7,532 Shares in Marathon Petroleum Co. (NYSE:MPC) Acquired by Keynote Financial Services LLC

Keynote Financial Services LLC acquired a new stake in shares of Marathon Petroleum Co. (NYSE:MPC) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,532 shares of the oil and gas company’s stock, valued at approximately $1,518,000. Marathon Petroleum comprises about 1.3% of Keynote Financial Services LLC’s portfolio, making the stock its 19th largest holding.

Other large investors have also modified their holdings of the company. American Trust acquired a new stake in shares of Marathon Petroleum during the first quarter valued at approximately $269,000. EverSource Wealth Advisors LLC raised its stake in Marathon Petroleum by 9.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 7,104 shares of the oil and gas company’s stock valued at $1,431,000 after purchasing an additional 631 shares during the period. Maxwell Wealth Strategies Inc. lifted its holdings in shares of Marathon Petroleum by 2.0% in the first quarter. Maxwell Wealth Strategies Inc. now owns 15,681 shares of the oil and gas company’s stock valued at $3,160,000 after purchasing an additional 311 shares in the last quarter. Pathway Financial Advisers LLC acquired a new stake in shares of Marathon Petroleum in the first quarter worth $67,000. Finally, Birmingham Capital Management Co. Inc. AL acquired a new position in Marathon Petroleum during the first quarter valued at $202,000. 76.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MPC has been the subject of a number of research reports. Wolfe Research initiated coverage on Marathon Petroleum in a research report on Thursday, July 18th. They set an “outperform” rating and a $200.00 price objective for the company. Barclays dropped their price objective on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating on the stock in a research note on Monday, July 1st. StockNews.com lowered shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Mizuho cut their price objective on Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating for the company in a report on Thursday, June 20th. Finally, Piper Sandler reduced their price objective on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating for the company in a research report on Friday, June 14th. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $196.85.

Marathon Petroleum Stock Performance

Shares of NYSE:MPC traded down $8.54 during trading on Friday, reaching $164.64. The stock had a trading volume of 2,599,758 shares, compared to its average volume of 2,325,567. The stock has a fifty day simple moving average of $171.45 and a two-hundred day simple moving average of $178.69. The company has a quick ratio of 0.99, a current ratio of 1.43 and a debt-to-equity ratio of 0.85. Marathon Petroleum Co. has a 52 week low of $133.65 and a 52 week high of $221.11. The firm has a market capitalization of $58.01 billion, a price-to-earnings ratio of 8.22, a P/E/G ratio of 2.09 and a beta of 1.40.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.53 by $0.25. The firm had revenue of $32.71 billion for the quarter, compared to the consensus estimate of $32.07 billion. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The business’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter last year, the firm posted $6.09 EPS. As a group, analysts anticipate that Marathon Petroleum Co. will post 13.84 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be given a dividend of $0.825 per share. The ex-dividend date is Wednesday, August 21st. This represents a $3.30 annualized dividend and a dividend yield of 2.00%. Marathon Petroleum’s dividend payout ratio is presently 16.48%.

Marathon Petroleum declared that its Board of Directors has initiated a share buyback program on Tuesday, April 30th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to buy up to 7.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Marathon Petroleum Company Profile

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.