Pathway Financial Advisers LLC Increases Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Pathway Financial Advisers LLC boosted its holdings in Marathon Petroleum Co. (NYSE:MPC) by 30.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 436 shares of the oil and gas company’s stock after purchasing an additional 103 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Marathon Petroleum were worth $71,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in MPC. WR Wealth Planners LLC boosted its position in shares of Marathon Petroleum by 15.2% in the second quarter. WR Wealth Planners LLC now owns 431 shares of the oil and gas company’s stock worth $75,000 after buying an additional 57 shares during the period. D Orazio & Associates Inc. lifted its position in shares of Marathon Petroleum by 3.2% in 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. Legacy Advisors LLC boosted its holdings in shares of Marathon Petroleum by 5.0% in the 2nd quarter. Legacy Advisors LLC now owns 1,238 shares of the oil and gas company’s stock valued at $215,000 after buying an additional 59 shares during the period. Latitude Advisors LLC grew its position in shares of Marathon Petroleum by 3.6% during the 2nd quarter. Latitude Advisors LLC now owns 1,714 shares of the oil and gas company’s stock valued at $297,000 after buying an additional 60 shares during the last quarter. Finally, SouthState Corp raised its stake in Marathon Petroleum by 1.5% during the second quarter. SouthState Corp now owns 4,122 shares of the oil and gas company’s stock worth $715,000 after acquiring an additional 61 shares during the period. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Down 0.4 %

Shares of Marathon Petroleum stock opened at $144.77 on Thursday. The stock has a market cap of $51.01 billion, a PE ratio of 7.23, a price-to-earnings-growth ratio of 3.03 and a beta of 1.37. The business has a fifty day simple moving average of $163.74 and a 200 day simple moving average of $172.18. 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 12 month low of $140.98 and a 12 month high of $221.11.

Marathon Petroleum (NYSE:MPC) last released its quarterly 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 during the quarter, compared to analysts’ expectations of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.32 earnings per share. Research analysts predict that Marathon Petroleum Co. will post 8.71 EPS for the current year.

Marathon Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.51%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. Marathon Petroleum’s payout ratio is currently 16.48%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MPC. Piper Sandler cut their price target on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. Tudor Pickering cut Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. dropped their price objective on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Jefferies Financial Group boosted their target price on shares of Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Citigroup dropped their price target on shares of Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $187.00.

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.