ORG Partners LLC Takes Position in Marathon Petroleum Co. (NYSE:MPC)

ORG Partners LLC acquired a new stake in shares of Marathon Petroleum Co. (NYSE:MPC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,934 shares of the oil and gas company’s stock, valued at approximately $513,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Farmers Trust Co. bought a new position in shares of Marathon Petroleum during the 2nd quarter valued at about $688,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Marathon Petroleum by 2.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 89,034 shares of the oil and gas company’s stock valued at $15,446,000 after acquiring an additional 2,338 shares during the period. Diversified Trust Co lifted its position in shares of Marathon Petroleum by 6.3% in the second quarter. Diversified Trust Co now owns 22,797 shares of the oil and gas company’s stock worth $3,955,000 after buying an additional 1,342 shares in the last quarter. Wedmont Private Capital increased its position in shares of Marathon Petroleum by 8.4% during the 2nd quarter. Wedmont Private Capital now owns 6,245 shares of the oil and gas company’s stock valued at $1,033,000 after purchasing an additional 486 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in shares of Marathon Petroleum by 3.3% during the second quarter. Sequoia Financial Advisors LLC now owns 14,355 shares of the oil and gas company’s stock worth $2,490,000 after purchasing an additional 459 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

MPC has been the topic of several research analyst reports. Mizuho dropped their target price on Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating on the stock in a research note on Thursday, June 20th. Barclays reduced their price target on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a research report on Monday, July 1st. Piper Sandler decreased their target price on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating on the stock in a research report on Friday, June 14th. TD Cowen raised their price objective on Marathon Petroleum from $187.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. dropped 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. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $198.38.

Marathon Petroleum Stock Performance

NYSE MPC traded up $0.88 on Thursday, reaching $179.93. The stock had a trading volume of 450,343 shares, compared to its average volume of 2,632,051. The firm has a fifty day moving average of $171.07 and a two-hundred day moving average of $179.71. The company has a market cap of $63.39 billion, a P/E ratio of 8.94, a price-to-earnings-growth 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 Co. has a 1-year low of $139.32 and a 1-year high of $221.11.

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

Marathon Petroleum Announces Dividend

The company also recently announced 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 is Wednesday, August 21st. This represents a $3.30 annualized dividend and a yield of 1.83%. Marathon Petroleum’s payout ratio is 16.48%.

Marathon Petroleum declared that its board has initiated 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 shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are 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.