SouthState Corp Purchases 61 Shares of Marathon Petroleum Co. (NYSE:MPC)

SouthState Corp increased its holdings in Marathon Petroleum Co. (NYSE:MPC) by 1.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,122 shares of the oil and gas company’s stock after purchasing an additional 61 shares during the quarter. SouthState Corp’s holdings in Marathon Petroleum were worth $715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of MPC. FinTrust Capital Advisors LLC raised its holdings in shares of Marathon Petroleum by 400.0% during the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. Crewe Advisors LLC purchased a new stake in shares of Marathon Petroleum in the 1st quarter worth about $29,000. ICA Group Wealth Management LLC bought a new stake in shares of Marathon Petroleum during the 4th quarter valued at about $30,000. Vima LLC bought a new position in Marathon Petroleum in the fourth quarter worth about $30,000. Finally, Manchester Capital Management LLC lifted its holdings in Marathon Petroleum by 97.2% in the fourth quarter. Manchester Capital Management LLC now owns 215 shares of the oil and gas company’s stock worth $32,000 after buying an additional 106 shares during the period. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Down 1.9 %

MPC stock opened at $168.46 on Friday. The stock has a market capitalization of $59.35 billion, a P/E ratio of 8.41, a P/E/G ratio of 2.33 and a beta of 1.40. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 0.90. Marathon Petroleum Co. has a 1-year low of $139.32 and a 1-year high of $221.11. The business has a fifty day moving average price of $171.36 and a 200-day moving average price of $180.24.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. The business had revenue of $38.36 billion during the quarter, compared to analyst estimates of $36.66 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. Marathon Petroleum’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.32 EPS. Equities analysts forecast that Marathon Petroleum Co. will post 12.68 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be paid a dividend of $0.825 per share. The ex-dividend date is Wednesday, August 21st. This represents a $3.30 dividend on an annualized basis and a yield of 1.96%. Marathon Petroleum’s dividend payout ratio is presently 16.48%.

Wall Street Analysts Forecast Growth

MPC has been the topic of a number of research analyst reports. Scotiabank reduced their target price on Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Piper Sandler decreased their price objective on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating for the company in a report on Friday, June 14th. Wells Fargo & Company dropped their target price on shares of Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. TD Cowen increased their price target on shares of Marathon Petroleum from $187.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, Wolfe Research started coverage on shares of Marathon Petroleum in a report on Thursday, July 18th. They issued an “outperform” rating and a $200.00 price objective on the stock. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $198.38.

Marathon Petroleum 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.