Sara Bay Financial Has $753,000 Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Sara Bay Financial raised its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 29.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,340 shares of the oil and gas company’s stock after purchasing an additional 1,000 shares during the period. Sara Bay Financial’s holdings in Marathon Petroleum were worth $753,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. FinTrust Capital Advisors LLC lifted its stake in Marathon Petroleum by 400.0% in the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 100 shares during the period. Crewe Advisors LLC bought a new position in Marathon Petroleum during the 1st quarter worth approximately $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Marathon Petroleum in the fourth quarter valued at approximately $25,000. ICA Group Wealth Management LLC acquired a new stake in Marathon Petroleum in the fourth quarter worth $30,000. Finally, Wellington Shields & Co. LLC bought a new position in shares of Marathon Petroleum during the first quarter worth $40,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

MPC has been the subject of a number of recent analyst reports. Barclays lowered their price objective 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. StockNews.com lowered Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Scotiabank decreased their price objective on Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. TD Cowen raised their target price on shares of Marathon Petroleum from $187.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, Piper Sandler cut their price target on shares of Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating on the stock in a research note on Friday, June 14th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and a consensus price target of $198.38.

Marathon Petroleum Stock Down 0.6 %

Shares of Marathon Petroleum stock traded down $1.13 during trading hours on Monday, reaching $178.90. 2,057,007 shares of the company’s stock were exchanged, compared to its average volume of 2,639,633. The company has a current ratio of 1.43, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. The company has a 50 day moving average of $171.27 and a two-hundred day moving average of $180.02. The stock has a market cap of $63.03 billion, a P/E ratio of 8.94, a P/E/G ratio of 2.09 and a beta of 1.40. Marathon Petroleum Co. has a fifty-two week low of $139.32 and a fifty-two week high of $221.11.

Marathon Petroleum (NYSE:MPC) last posted 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. The firm 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 business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.32 EPS. On average, sell-side analysts forecast that Marathon Petroleum Co. will post 13.84 EPS for the current fiscal year.

Marathon Petroleum announced that its Board of Directors has initiated a share buyback 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be given a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

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.