Financial Partners Group LLC Purchases 696 Shares of Marathon Petroleum Co. (NYSE:MPC)

Financial Partners Group LLC increased its position in Marathon Petroleum Co. (NYSE:MPCFree Report) by 27.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,251 shares of the oil and gas company’s stock after purchasing an additional 696 shares during the quarter. Financial Partners Group LLC’s holdings in Marathon Petroleum were worth $482,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MPC. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Marathon Petroleum in the 4th quarter worth about $25,000. Bruce G. Allen Investments LLC bought a new position in shares of Marathon Petroleum during the fourth quarter valued at approximately $32,000. Bare Financial Services Inc purchased a new position in shares of Marathon Petroleum during the fourth quarter valued at approximately $32,000. Manchester Capital Management LLC boosted its position in shares of Marathon Petroleum by 97.2% in the 4th quarter. Manchester Capital Management LLC now owns 215 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 106 shares in the last quarter. Finally, Pittenger & Anderson Inc. purchased a new stake in shares of Marathon Petroleum in the 4th quarter worth approximately $36,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Marathon Petroleum from $172.00 to $186.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Piper Sandler cut their price objective on shares of Marathon Petroleum from $204.00 to $190.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 14th. Raymond James reduced their price objective on shares of Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating for the company in a research note on Thursday. Barclays lowered their price objective on Marathon Petroleum from $221.00 to $195.00 and set an “overweight” rating on the stock in a research report on Monday, May 6th. Finally, StockNews.com downgraded shares of Marathon Petroleum from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 9th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus target price of $194.23.

Get Our Latest Stock Analysis on Marathon Petroleum

Marathon Petroleum Price Performance

Marathon Petroleum stock traded up $4.60 during mid-day trading on Friday, hitting $176.61. The stock had a trading volume of 3,935,572 shares, compared to its average volume of 2,210,004. The firm has a market capitalization of $62.23 billion, a P/E ratio of 8.82, a P/E/G ratio of 1.48 and a beta of 1.55. The firm’s 50 day moving average is $191.98 and its 200 day moving average is $172.32. The company has a current ratio of 1.43, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. Marathon Petroleum Co. has a one year low of $104.32 and a one year high of $221.11.

Marathon Petroleum (NYSE:MPCGet Free Report) last posted its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.25. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The firm had revenue of $32.71 billion during the quarter, compared to the consensus estimate of $32.07 billion. During the same period in the prior year, the company earned $6.09 EPS. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. On average, sell-side analysts forecast that Marathon Petroleum Co. will post 19.3 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.825 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $3.30 annualized dividend and a yield of 1.87%. Marathon Petroleum’s payout ratio is currently 16.48%.

Marathon Petroleum declared that its Board of Directors has approved a share buyback program on Tuesday, April 30th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas company to reacquire up to 7.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Marathon Petroleum Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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