Marathon Petroleum Co. (NYSE:MPC) Shares Bought by Cwm LLC

Cwm LLC grew its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 9.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,489 shares of the oil and gas company’s stock after buying an additional 1,398 shares during the quarter. Cwm LLC’s holdings in Marathon Petroleum were worth $2,861,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Scarborough Advisors LLC lifted its stake in Marathon Petroleum by 10.7% during the fourth quarter. Scarborough Advisors LLC now owns 2,174 shares of the oil and gas company’s stock worth $323,000 after purchasing an additional 210 shares during the last quarter. Global Assets Advisory LLC bought a new stake in Marathon Petroleum in the first quarter valued at $36,823,000. First Horizon Advisors Inc. lifted its stake in Marathon Petroleum by 8.9% in the fourth quarter. First Horizon Advisors Inc. now owns 1,174 shares of the oil and gas company’s stock valued at $174,000 after buying an additional 96 shares during the last quarter. Canoe Financial LP bought a new stake in Marathon Petroleum in the fourth quarter valued at $33,604,000. Finally, Fidelis Capital Partners LLC lifted its stake in Marathon Petroleum by 3.2% in the first quarter. Fidelis Capital Partners LLC now owns 3,050 shares of the oil and gas company’s stock valued at $615,000 after buying an additional 94 shares during the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Performance

Shares of MPC traded up $4.68 during mid-day trading on Thursday, reaching $174.03. The company’s stock had a trading volume of 593,119 shares, compared to its average volume of 2,635,875. Marathon Petroleum Co. has a 1-year low of $139.32 and a 1-year high of $221.11. The stock has a market cap of $61.32 billion, a P/E ratio of 8.46, a PEG ratio of 2.09 and a beta of 1.40. The business has a 50-day simple moving average of $170.90 and a two-hundred day simple moving average of $179.01. The company has a current ratio of 1.43, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. The company had revenue of $38.36 billion for the quarter, compared to analyst estimates of $36.66 billion. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $5.32 earnings per share. As a group, equities research analysts anticipate that Marathon Petroleum Co. will post 13.84 earnings per share for the current fiscal year.

Marathon Petroleum declared that its board has approved a share 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 reacquire up to 7.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be paid a dividend of $0.825 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.90%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 16.48%.

Analyst Ratings Changes

A number of brokerages have recently commented on MPC. Raymond James lowered their price target on Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating on the stock in a report on Thursday, May 30th. Barclays lowered their target price on Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating on the stock in a report on Monday, July 1st. StockNews.com lowered Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Friday, June 14th. TD Cowen increased their price target on Marathon Petroleum from $187.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. decreased their price target on Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Marathon Petroleum has an average rating of “Moderate Buy” and an average target price of $198.38.

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.