NorthCrest Asset Manangement LLC Grows Position in Marathon Petroleum Co. (NYSE:MPC)

NorthCrest Asset Manangement LLC raised its holdings in Marathon Petroleum Co. (NYSE:MPC) by 309.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,030 shares of the oil and gas company’s stock after purchasing an additional 22,696 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Marathon Petroleum were worth $4,892,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. WR Wealth Planners LLC increased its position in shares of Marathon Petroleum by 15.2% during the second quarter. WR Wealth Planners LLC now owns 431 shares of the oil and gas company’s stock valued at $75,000 after buying an additional 57 shares during the period. D Orazio & Associates Inc. grew its holdings in shares of Marathon Petroleum by 3.2% during the 1st quarter. D Orazio & Associates Inc. now owns 1,894 shares of the oil and gas company’s stock worth $382,000 after acquiring an additional 59 shares during the period. Legacy Advisors LLC raised its position in shares of Marathon Petroleum by 5.0% in the 2nd quarter. Legacy Advisors LLC now owns 1,238 shares of the oil and gas company’s stock worth $215,000 after acquiring an additional 59 shares in the last quarter. Latitude Advisors LLC lifted its stake in shares of Marathon Petroleum by 3.6% in the 2nd quarter. Latitude Advisors LLC now owns 1,714 shares of the oil and gas company’s stock valued at $297,000 after purchasing an additional 60 shares during the period. Finally, SouthState Corp boosted its position in shares of Marathon Petroleum by 1.5% during the second quarter. SouthState Corp now owns 4,122 shares of the oil and gas company’s stock valued at $715,000 after purchasing an additional 61 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

NYSE MPC opened at $152.36 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31. The company has a market capitalization of $50.99 billion, a price-to-earnings ratio of 8.01, a PEG ratio of 3.03 and a beta of 1.37. The stock has a 50-day moving average of $165.37 and a 200 day moving average of $173.52. Marathon Petroleum Co. has a one year low of $140.98 and a one year high of $221.11.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. The firm had revenue of $38.36 billion during the quarter, compared to analyst estimates of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the business posted $5.32 earnings per share. On average, sell-side analysts forecast that Marathon Petroleum Co. will post 8.71 EPS for the current year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were issued a dividend of $0.825 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $3.30 annualized dividend and a dividend yield of 2.17%. Marathon Petroleum’s payout ratio is 17.34%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MPC. Tudor Pickering lowered Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, September 9th. Jefferies Financial Group lifted their price target on shares of Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Piper Sandler cut their price objective on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. Bank of America began coverage on shares of Marathon Petroleum in a report on Thursday, October 17th. They set a “neutral” rating and a $174.00 target price for the company. Finally, Barclays cut their price target on Marathon Petroleum from $180.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $187.00.

About Marathon Petroleum

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.