Ingalls & Snyder LLC Has $2.59 Million Stake in Marathon Petroleum Co. (NYSE:MPC)

Ingalls & Snyder LLC lifted its holdings in Marathon Petroleum Co. (NYSE:MPC) by 2.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,925 shares of the oil and gas company’s stock after purchasing an additional 400 shares during the period. Ingalls & Snyder LLC’s holdings in Marathon Petroleum were worth $2,594,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in MPC. WR Wealth Planners LLC lifted its holdings 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 worth $75,000 after buying an additional 57 shares during the last quarter. Legacy Advisors LLC boosted its holdings in 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 valued at $215,000 after purchasing an additional 59 shares during the period. Latitude Advisors LLC grew its position in 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 worth $297,000 after purchasing an additional 60 shares during the last quarter. SouthState Corp raised 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 buying an additional 61 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Marathon Petroleum by 0.9% in the second quarter. EverSource Wealth Advisors LLC now owns 7,165 shares of the oil and gas company’s stock valued at $1,268,000 after buying an additional 61 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Piper Sandler cut their price target on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, September 20th. BMO Capital Markets reduced their target price on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. JPMorgan Chase & Co. lowered their price target on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Citigroup reduced their price objective on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Finally, TD Cowen lowered their target price on shares of Marathon Petroleum from $174.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.07.

Marathon Petroleum Price Performance

Marathon Petroleum stock traded down $0.87 on Tuesday, reaching $156.54. The company’s stock had a trading volume of 181,078 shares, compared to its average volume of 2,608,543. Marathon Petroleum Co. has a twelve month low of $140.98 and a twelve month high of $221.11. The company has a market cap of $50.31 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 2.71 and a beta of 1.40. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The business’s fifty day moving average price is $157.98 and its 200 day moving average price is $166.70.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.90. Marathon Petroleum had a net margin of 3.15% and a return on equity of 16.19%. The firm had revenue of $35.37 billion for the quarter, compared to analyst estimates of $34.34 billion. During the same quarter in the prior year, the firm earned $8.14 EPS. The company’s revenue was down 14.9% on a year-over-year basis. Equities analysts expect that Marathon Petroleum Co. will post 9.59 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.33%. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, November 20th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 28.84%.

Marathon Petroleum declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, November 5th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to reacquire up to 10% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

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.