Massmutual Trust Co. FSB ADV Boosts Stake in Marathon Petroleum Co. (NYSE:MPC)

Massmutual Trust Co. FSB ADV raised its holdings in Marathon Petroleum Co. (NYSE:MPC) by 8.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,175 shares of the oil and gas company’s stock after purchasing an additional 92 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Marathon Petroleum were worth $204,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of MPC. International Assets Investment Management LLC grew its stake in Marathon Petroleum by 248.1% during the 4th quarter. International Assets Investment Management LLC now owns 608,888 shares of the oil and gas company’s stock worth $90,335,000 after purchasing an additional 433,977 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Marathon Petroleum by 3.2% in the 4th quarter. Allworth Financial LP now owns 10,899 shares of the oil and gas company’s stock worth $1,617,000 after acquiring an additional 340 shares during the period. Stratos Wealth Partners LTD. grew its holdings in shares of Marathon Petroleum by 42.0% in the 4th quarter. Stratos Wealth Partners LTD. now owns 30,336 shares of the oil and gas company’s stock worth $4,501,000 after acquiring an additional 8,966 shares during the period. Tritonpoint Wealth LLC acquired a new stake in Marathon Petroleum during the 4th quarter valued at $461,000. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Marathon Petroleum by 7.0% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 156,771 shares of the oil and gas company’s stock worth $22,940,000 after purchasing an additional 10,323 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MPC shares. Scotiabank cut their target price on Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Wolfe Research initiated coverage on Marathon Petroleum in a research note on Thursday, July 18th. They issued an “outperform” rating and a $200.00 price target for the company. Barclays decreased their target price on Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a research note on Monday, July 1st. Piper Sandler decreased their target price on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating for the company in a research note on Friday, June 14th. Finally, JPMorgan Chase & Co. decreased their price objective on Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. Six analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and an average price target of $196.85.

Marathon Petroleum Stock Down 1.5 %

MPC stock traded down $2.50 during midday trading on Monday, hitting $162.14. The company’s stock had a trading volume of 2,702,296 shares, compared to its average volume of 2,656,518. The company’s fifty day moving average price is $171.45 and its 200 day moving average price is $178.88. Marathon Petroleum Co. has a twelve month low of $137.57 and a twelve month high of $221.11. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 0.99. The stock has a market capitalization of $57.13 billion, a P/E ratio of 8.10, a PEG ratio of 2.09 and a beta of 1.40.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio is 16.48%.

Marathon Petroleum declared that its Board of Directors has initiated a stock buyback program on Tuesday, April 30th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to purchase up to 7.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Marathon Petroleum Company 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.