Capital Wealth Planning LLC Boosts Holdings in Marathon Petroleum Co. (NYSE:MPC)

Capital Wealth Planning LLC boosted its position in Marathon Petroleum Co. (NYSE:MPC) by 1.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,129,690 shares of the oil and gas company’s stock after purchasing an additional 19,060 shares during the quarter. Marathon Petroleum comprises 2.1% of Capital Wealth Planning LLC’s investment portfolio, making the stock its 22nd biggest position. Capital Wealth Planning LLC’s holdings in Marathon Petroleum were worth $195,979,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Scarborough Advisors LLC increased its holdings in shares of Marathon Petroleum by 10.7% in the 4th quarter. Scarborough Advisors LLC now owns 2,174 shares of the oil and gas company’s stock worth $323,000 after buying an additional 210 shares during the last quarter. Global Assets Advisory LLC bought a new position in shares of Marathon Petroleum in the 1st quarter worth $36,823,000. Founders Financial Securities LLC increased its holdings in shares of Marathon Petroleum by 22.8% in the 2nd quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company’s stock worth $863,000 after buying an additional 924 shares during the last quarter. Fidelis Capital Partners LLC increased its holdings in shares of Marathon Petroleum by 3.2% in the 1st quarter. Fidelis Capital Partners LLC now owns 3,050 shares of the oil and gas company’s stock worth $615,000 after buying an additional 94 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Marathon Petroleum by 17.6% in the 4th quarter. Franklin Resources Inc. now owns 692,063 shares of the oil and gas company’s stock worth $102,675,000 after buying an additional 103,471 shares during the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MPC shares. Barclays decreased their price target on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating on the stock in a report on Monday, July 1st. Scotiabank reduced their target price on shares of Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. JPMorgan Chase & Co. reduced their target price on shares of Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. TD Cowen increased their target price on shares of Marathon Petroleum from $187.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Piper Sandler reduced their target price on shares of Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating on the stock in a report on Friday, June 14th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $198.38.

Marathon Petroleum Trading Up 1.3 %

NYSE:MPC opened at $163.58 on Monday. The company has a 50-day moving average price of $170.03 and a 200-day moving average price of $180.16. Marathon Petroleum Co. has a 12 month low of $139.32 and a 12 month high of $221.11. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86. The stock has a market cap of $57.63 billion, a price-to-earnings ratio of 8.17, a P/E/G ratio of 2.09 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, topping the consensus estimate of $3.09 by $1.03. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The firm had revenue of $38.36 billion during the quarter, compared to analysts’ expectations of $36.66 billion. During the same period last year, the company posted $5.32 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. Equities analysts predict that Marathon Petroleum Co. will post 12.68 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were given a $0.825 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $3.30 annualized dividend and a dividend yield of 2.02%. Marathon Petroleum’s dividend payout ratio is 16.48%.

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.