Pullen Investment Management LLC Raises Position in Marathon Petroleum Co. (NYSE:MPC)

Pullen Investment Management LLC increased its stake in Marathon Petroleum Co. (NYSE:MPC) by 1.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,820 shares of the oil and gas company’s stock after acquiring an additional 192 shares during the period. Marathon Petroleum makes up about 1.3% of Pullen Investment Management LLC’s holdings, making the stock its 24th largest holding. Pullen Investment Management LLC’s holdings in Marathon Petroleum were worth $1,763,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. WR Wealth Planners LLC grew its position 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 in the last quarter. D Orazio & Associates Inc. increased its position in shares of Marathon Petroleum by 3.2% in the 1st quarter. D Orazio & Associates Inc. now owns 1,894 shares of the oil and gas company’s stock valued at $382,000 after purchasing an additional 59 shares during the last quarter. Legacy Advisors LLC raised its holdings in shares of 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 in the last quarter. Latitude Advisors LLC lifted its position in shares of Marathon Petroleum by 3.6% during 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. Finally, SouthState Corp grew its stake 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 worth $715,000 after purchasing an additional 61 shares in the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MPC has been the topic of a number of analyst reports. Bank of America assumed coverage on Marathon Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price target on the stock. Tudor Pickering cut Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, September 9th. Jefferies Financial Group increased their price target on shares of Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Wells Fargo & Company lowered their target price on shares of Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Finally, Citigroup cut their price target on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $187.00.

Marathon Petroleum Stock Down 0.3 %

Marathon Petroleum stock opened at $152.36 on Friday. The stock has a market capitalization of $50.99 billion, a price-to-earnings ratio of 8.01, a PEG ratio of 3.03 and a beta of 1.37. 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 50 day moving average of $165.37 and a two-hundred day moving average of $173.52. Marathon Petroleum Co. has a twelve month low of $140.98 and a twelve month high of $221.11.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The company had revenue of $38.36 billion during the quarter, compared to the consensus estimate of $36.66 billion. During the same quarter in the prior year, the firm earned $5.32 EPS. Marathon Petroleum’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, research analysts expect that Marathon Petroleum Co. will post 8.71 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were issued a $0.825 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $3.30 annualized dividend and a dividend yield of 2.17%. Marathon Petroleum’s dividend payout ratio is currently 17.34%.

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.