4,364 Shares in Marathon Petroleum Co. (NYSE:MPC) Acquired by CoreCap Advisors LLC

CoreCap Advisors LLC purchased a new position in Marathon Petroleum Co. (NYSE:MPC) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 4,364 shares of the oil and gas company’s stock, valued at approximately $757,000.

A number of other large investors also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in Marathon Petroleum in the 4th quarter worth approximately $500,685,000. Granite Bay Wealth Management LLC bought a new stake in Marathon Petroleum in the 2nd quarter worth approximately $219,537,000. Capital Wealth Planning LLC increased its stake in Marathon Petroleum by 10,902.9% in the 1st quarter. Capital Wealth Planning LLC now owns 1,110,630 shares of the oil and gas company’s stock worth $223,792,000 after acquiring an additional 1,100,536 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Marathon Petroleum by 980.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 684,718 shares of the oil and gas company’s stock worth $118,785,000 after acquiring an additional 621,336 shares during the last quarter. Finally, Schroder Investment Management Group increased its stake in Marathon Petroleum by 309.9% in the 4th quarter. Schroder Investment Management Group now owns 643,590 shares of the oil and gas company’s stock worth $95,483,000 after acquiring an additional 486,573 shares during the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $163.58 on Friday. The stock’s fifty day moving average is $170.03 and its two-hundred day moving average is $180.01. The company has a market capitalization of $54.75 billion, a PE ratio of 8.17, a price-to-earnings-growth ratio of 2.09 and a beta of 1.38. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86. Marathon Petroleum Co. has a 52 week low of $139.32 and a 52 week high of $221.11.

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. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The company had revenue of $38.36 billion for the quarter, compared to the consensus estimate of $36.66 billion. During the same quarter in the prior year, the company posted $5.32 EPS. Marathon Petroleum’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, analysts expect that Marathon Petroleum Co. will post 12.68 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were paid a dividend of $0.825 per share. The ex-dividend date was Wednesday, August 21st. This represents a $3.30 annualized dividend and a dividend yield of 2.02%. Marathon Petroleum’s dividend payout ratio is currently 16.48%.

Analyst Ratings Changes

A number of analysts have issued reports on MPC shares. Tudor, Pickering, Holt & Co. downgraded Marathon Petroleum from a “buy” rating to a “sell” rating in a research note on Monday, September 9th. Jefferies Financial Group lifted their price objective on Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Wolfe Research started coverage on Marathon Petroleum in a research report on Thursday, July 18th. They set an “outperform” rating and a $200.00 target price on the stock. Piper Sandler cut 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. Finally, Barclays cut their target price on Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating on the stock in a research report on Monday, July 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Marathon Petroleum presently has a consensus rating of “Hold” 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.