Marathon Petroleum Co. (NYSE:MPC) Shares Bought by Raymond James Trust N.A.

Raymond James Trust N.A. raised its holdings in Marathon Petroleum Co. (NYSE:MPC) by 1.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 103,081 shares of the oil and gas company’s stock after acquiring an additional 1,052 shares during the quarter. Raymond James Trust N.A.’s holdings in Marathon Petroleum were worth $17,882,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. NBC Securities Inc. lifted its holdings in Marathon Petroleum by 0.9% in the first quarter. NBC Securities Inc. now owns 6,333 shares of the oil and gas company’s stock valued at $1,276,000 after acquiring an additional 55 shares during the period. Guidance Capital Inc. raised its stake in shares of Marathon Petroleum by 1.1% during the 1st quarter. Guidance Capital Inc. now owns 5,483 shares of the oil and gas company’s stock worth $1,135,000 after buying an additional 57 shares during the last quarter. Bruce G. Allen Investments LLC raised its stake in shares of Marathon Petroleum by 27.3% during the 1st quarter. Bruce G. Allen Investments LLC now owns 275 shares of the oil and gas company’s stock worth $55,000 after buying an additional 59 shares during the last quarter. First Financial Corp IN raised its stake in shares of Marathon Petroleum by 2.5% during the 1st quarter. First Financial Corp IN now owns 2,429 shares of the oil and gas company’s stock worth $489,000 after buying an additional 59 shares during the last quarter. Finally, D Orazio & Associates Inc. raised its stake in shares of Marathon Petroleum by 3.2% during the 1st quarter. D Orazio & Associates Inc. now owns 1,894 shares of the oil and gas company’s stock worth $382,000 after buying an additional 59 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on MPC shares. Tudor Pickering upgraded Marathon Petroleum to a “strong-buy” rating in a research report on Thursday, May 30th. JPMorgan Chase & Co. lowered their price target on Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. Barclays lowered their price target on Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a report on Monday, July 1st. Raymond James lowered their price target on Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating for the company in a report on Thursday, May 30th. Finally, Jefferies Financial Group lifted their price target on Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a report on Monday, July 15th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Marathon Petroleum has an average rating of “Moderate Buy” and a consensus price target of $198.38.

Marathon Petroleum Stock Up 2.1 %

Marathon Petroleum stock traded up $3.53 during midday trading on Friday, hitting $175.31. 1,995,981 shares of the company were exchanged, compared to its average volume of 2,629,847. The company’s fifty day moving average price is $171.50 and its 200-day moving average price is $180.22. The company has a market cap of $61.77 billion, a PE ratio of 8.76, 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 fifty-two week low of $139.32 and a fifty-two week high of $221.11.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $1.03. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The company had revenue of $38.36 billion for the quarter, compared to analyst estimates of $36.66 billion. During the same period 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. On average, research analysts predict that Marathon Petroleum Co. will post 13.84 EPS for the current fiscal year.

Marathon Petroleum declared that its Board of Directors has initiated a share buyback plan on Tuesday, April 30th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to repurchase up to 7.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders 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 1.88%. The ex-dividend date is Wednesday, August 21st. Marathon Petroleum’s payout ratio is 16.48%.

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.