Marathon Petroleum Co. (NYSE:MPC) Holdings Lifted by Everhart Financial Group Inc.

Everhart Financial Group Inc. grew its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 3.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,840 shares of the oil and gas company’s stock after buying an additional 198 shares during the period. Everhart Financial Group Inc.’s holdings in Marathon Petroleum were worth $1,013,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Catalina Capital Group LLC boosted its position in Marathon Petroleum by 6.1% during the 2nd quarter. Catalina Capital Group LLC now owns 3,414 shares of the oil and gas company’s stock worth $592,000 after acquiring an additional 196 shares during the period. My Legacy Advisors LLC acquired a new stake in Marathon Petroleum in the second quarter worth about $612,000. &PARTNERS grew its position in Marathon Petroleum by 79.6% in the 2nd quarter. &PARTNERS now owns 10,262 shares of the oil and gas company’s stock valued at $1,780,000 after buying an additional 4,548 shares in the last quarter. Moss Adams Wealth Advisors LLC raised its position in shares of Marathon Petroleum by 15.6% during the 2nd quarter. Moss Adams Wealth Advisors LLC now owns 1,177 shares of the oil and gas company’s stock worth $204,000 after buying an additional 159 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its stake in shares of Marathon Petroleum by 50.7% in the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 13,796 shares of the oil and gas company’s stock worth $2,393,000 after acquiring an additional 4,640 shares during the period. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Mizuho dropped their target price on Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. StockNews.com downgraded Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. TD Cowen raised their target price on Marathon Petroleum from $187.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Barclays dropped their price target on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating on the stock in a research report on Monday, July 1st. Finally, Wells Fargo & Company reduced their price objective on shares of 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 assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus price target of $198.38.

Marathon Petroleum Stock Up 2.1 %

Shares of MPC traded up $3.59 during mid-day trading on Friday, reaching $175.37. The company’s stock had a trading volume of 1,995,168 shares, compared to its average volume of 2,629,847. Marathon Petroleum Co. has a 1 year low of $139.32 and a 1 year high of $221.11. The company has a quick ratio of 0.99, a current ratio of 1.43 and a debt-to-equity ratio of 0.85. The company has a market cap of $61.79 billion, a price-to-earnings ratio of 8.76, a price-to-earnings-growth ratio of 2.09 and a beta of 1.40. The business has a fifty day moving average of $171.50 and a 200 day moving average of $180.06.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, beating the consensus estimate of $3.09 by $1.03. The company had revenue of $38.36 billion for the quarter, compared to analysts’ expectations of $36.66 billion. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.32 EPS. As a group, analysts forecast that Marathon Petroleum Co. will post 13.84 earnings per share for the current fiscal year.

Marathon Petroleum announced that its board has initiated a share buyback plan 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 purchase up to 7.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Marathon Petroleum Announces Dividend

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