Thrive Wealth Management LLC Takes Position in Marathon Petroleum Co. (NYSE:MPC)

Thrive Wealth Management LLC bought a new stake in shares of Marathon Petroleum Co. (NYSE:MPC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,188 shares of the oil and gas company’s stock, valued at approximately $206,000.

Several other institutional investors also recently bought and sold shares of MPC. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Marathon Petroleum during the fourth quarter valued at about $25,000. FinTrust Capital Advisors LLC lifted its stake in shares of Marathon Petroleum by 400.0% during the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock worth $25,000 after buying an additional 100 shares during the period. Crewe Advisors LLC acquired a new position in shares of Marathon Petroleum in the 1st quarter valued at $29,000. ICA Group Wealth Management LLC purchased a new position in Marathon Petroleum in the 4th quarter worth $30,000. Finally, Vima LLC acquired a new stake in Marathon Petroleum during the 4th quarter worth about $30,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Price Performance

Shares of MPC stock traded up $1.68 on Friday, reaching $175.83. 2,321,874 shares of the company were exchanged, compared to its average volume of 2,645,106. Marathon Petroleum Co. has a 1 year low of $139.32 and a 1 year high of $221.11. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 1.43. The business has a 50-day moving average price of $170.93 and a 200 day moving average price of $179.30. The company has a market cap of $61.95 billion, a price-to-earnings ratio of 8.78, a P/E/G ratio of 2.09 and a beta of 1.40.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, topping the consensus estimate of $3.09 by $1.03. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The firm 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. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities research analysts forecast that Marathon Petroleum Co. will post 13.84 earnings per share for the current fiscal year.

Marathon Petroleum declared that its board has authorized a stock repurchase plan on Tuesday, April 30th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to purchase up to 7.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be issued a $0.825 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $3.30 annualized dividend and a dividend yield of 1.88%. Marathon Petroleum’s dividend payout ratio is presently 16.48%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. decreased their target price on Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. Tudor Pickering raised shares of Marathon Petroleum to a “strong-buy” rating in a report on Thursday, May 30th. TD Cowen upped their price target on shares of Marathon Petroleum from $187.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday. StockNews.com downgraded Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Finally, Wells Fargo & Company reduced their price target on Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. 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 stock. According to data from MarketBeat, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and a consensus price target of $198.38.

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.