Smith Group Asset Management LLC Buys 951 Shares of Marathon Petroleum Co. (NYSE:MPC)

Smith Group Asset Management LLC lifted its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 1.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 72,284 shares of the oil and gas company’s stock after purchasing an additional 951 shares during the period. Smith Group Asset Management LLC’s holdings in Marathon Petroleum were worth $11,776,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Pallas Capital Advisors LLC increased its stake in shares of Marathon Petroleum by 34.0% in the 3rd quarter. Pallas Capital Advisors LLC now owns 2,235 shares of the oil and gas company’s stock valued at $342,000 after buying an additional 567 shares during the period. Hunter Associates Investment Management LLC increased its position in Marathon Petroleum by 10.6% in the third quarter. Hunter Associates Investment Management LLC now owns 3,005 shares of the oil and gas company’s stock worth $491,000 after purchasing an additional 287 shares during the period. Inscription Capital LLC raised its holdings in Marathon Petroleum by 8.5% during the 3rd quarter. Inscription Capital LLC now owns 3,340 shares of the oil and gas company’s stock worth $544,000 after purchasing an additional 261 shares during the last quarter. Pullen Investment Management LLC lifted its position in Marathon Petroleum by 1.8% during the 3rd quarter. Pullen Investment Management LLC now owns 10,820 shares of the oil and gas company’s stock valued at $1,763,000 after purchasing an additional 192 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of Marathon Petroleum by 3.6% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 149,014 shares of the oil and gas company’s stock valued at $24,313,000 after purchasing an additional 5,133 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Down 0.8 %

Shares of NYSE:MPC opened at $151.07 on Tuesday. The firm has a market cap of $53.23 billion, a price-to-earnings ratio of 7.55, a PEG ratio of 3.03 and a beta of 1.37. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86. Marathon Petroleum Co. has a 12 month low of $140.98 and a 12 month high of $221.11. The company’s fifty day simple moving average is $164.81 and its 200 day simple moving average is $172.82.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $1.03. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The company had revenue of $38.36 billion for the quarter, compared to analyst estimates of $36.66 billion. During the same period in the previous year, the company posted $5.32 earnings per share. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, research analysts forecast that Marathon Petroleum Co. will post 8.71 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were paid a dividend of $0.825 per share. The ex-dividend date was Wednesday, August 21st. This represents a $3.30 annualized dividend and a dividend yield of 2.18%. Marathon Petroleum’s dividend payout ratio is currently 16.48%.

Wall Street Analysts Forecast Growth

MPC has been the topic of several analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Wells Fargo & Company cut their price target on Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Bank of America initiated coverage on Marathon Petroleum in a research note on Thursday, October 17th. They set a “neutral” rating and a $174.00 price objective for the company. Piper Sandler cut their target price on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. Finally, Morgan Stanley decreased their target price on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and an average target price of $187.00.

About Marathon Petroleum

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.