Westside Investment Management Inc. Increases Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Westside Investment Management Inc. raised its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 10.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,311 shares of the oil and gas company’s stock after buying an additional 120 shares during the quarter. Westside Investment Management Inc.’s holdings in Marathon Petroleum were worth $265,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MPC. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Marathon Petroleum during the fourth quarter valued at $25,000. ICA Group Wealth Management LLC purchased a new position in Marathon Petroleum during the fourth quarter valued at $30,000. Vima LLC purchased a new position in Marathon Petroleum during the fourth quarter valued at $30,000. Bruce G. Allen Investments LLC purchased a new position in Marathon Petroleum during the fourth quarter valued at $32,000. Finally, Bare Financial Services Inc purchased a new position in shares of Marathon Petroleum in the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

MPC has been the subject of several recent analyst reports. Scotiabank lifted their price target on Marathon Petroleum from $175.00 to $207.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. The Goldman Sachs Group lifted their price target on Marathon Petroleum from $175.00 to $211.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Bank of America lifted their price target on Marathon Petroleum from $185.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Wells Fargo & Company lowered their price target on Marathon Petroleum from $227.00 to $223.00 and set an “overweight” rating for the company in a research report on Thursday, June 6th. Finally, Piper Sandler lowered their price target 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 research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.31.

Marathon Petroleum Trading Up 0.5 %

Marathon Petroleum stock opened at $174.99 on Thursday. The business has a 50-day simple moving average of $177.73 and a two-hundred day simple moving average of $176.31. The company has a market cap of $61.65 billion, a P/E ratio of 8.74, a P/E/G ratio of 1.63 and a beta of 1.40. Marathon Petroleum Co. has a 52-week low of $112.82 and a 52-week high of $221.11. 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 (NYSE:MPC) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.25. The business had revenue of $32.71 billion during the quarter, compared to the consensus estimate of $32.07 billion. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period in the previous year, the company posted $6.09 EPS. Analysts predict that Marathon Petroleum Co. will post 17.85 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 16th were paid a dividend of $0.825 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.89%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

Marathon Petroleum declared that its Board of Directors has initiated a share buyback plan on Tuesday, April 30th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the oil and gas company to purchase up to 7.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

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.