Aspire Private Capital LLC Has $737,000 Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Aspire Private Capital LLC lifted its stake in Marathon Petroleum Co. (NYSE:MPC) by 5.4% in the second quarter, Holdings Channel.com reports. The firm owned 4,250 shares of the oil and gas company’s stock after acquiring an additional 219 shares during the quarter. Aspire Private Capital LLC’s holdings in Marathon Petroleum were worth $737,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Marathon Petroleum during the fourth quarter valued at $500,685,000. Granite Bay Wealth Management LLC bought a new stake in shares of Marathon Petroleum in the second quarter valued at about $219,537,000. Capital Wealth Planning LLC raised its holdings in shares of Marathon Petroleum by 10,902.9% in the first quarter. Capital Wealth Planning LLC now owns 1,110,630 shares of the oil and gas company’s stock valued at $223,792,000 after purchasing an additional 1,100,536 shares during the last quarter. Schroder Investment Management Group increased its position in shares of Marathon Petroleum by 309.9% in the fourth quarter. Schroder Investment Management Group now owns 643,590 shares of the oil and gas company’s stock valued at $95,483,000 after acquiring an additional 486,573 shares during the last quarter. Finally, Canoe Financial LP bought a new stake in shares of Marathon Petroleum during the 4th quarter worth approximately $33,604,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Trading Up 0.3 %

MPC traded up $0.55 during midday trading on Monday, reaching $176.38. 2,290,221 shares of the company’s stock traded hands, compared to its average volume of 2,647,558. The firm has a fifty day moving average of $170.93 and a two-hundred day moving average of $179.47. Marathon Petroleum Co. has a 52 week low of $139.32 and a 52 week high of $221.11. The stock has a market capitalization of $62.14 billion, a price-to-earnings ratio of 8.83, a P/E/G ratio of 2.09 and a beta of 1.40. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 0.99.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, beating the consensus estimate of $3.09 by $1.03. The business had revenue of $38.36 billion during 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 company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $5.32 earnings per share. On average, equities analysts anticipate that Marathon Petroleum Co. will post 13.84 earnings per share for the current fiscal year.

Marathon Petroleum announced that its board has approved a share buyback program on Tuesday, April 30th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the oil and gas company to buy up to 7.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management 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. Shareholders of record on Wednesday, August 21st will be issued a $0.825 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $3.30 annualized dividend and a yield of 1.87%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on MPC shares. Piper Sandler dropped their price objective on shares of Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating on the stock in a research report on Friday, June 14th. Wolfe Research assumed coverage on Marathon Petroleum in a report on Thursday, July 18th. They set an “outperform” rating and a $200.00 price target for the company. StockNews.com cut Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. JPMorgan Chase & Co. reduced their price target on Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Finally, Jefferies Financial Group boosted their price objective on shares of Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Marathon Petroleum has an average rating of “Moderate Buy” and a consensus target price of $198.38.

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.