RFG Advisory LLC Grows Stock Position in Marathon Petroleum Co. (NYSE:MPC)

RFG Advisory LLC boosted its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 32.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,156 shares of the oil and gas company’s stock after purchasing an additional 3,755 shares during the quarter. RFG Advisory LLC’s holdings in Marathon Petroleum were worth $3,054,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. BTC Capital Management Inc. purchased a new stake in shares of Marathon Petroleum during the 1st quarter worth $6,740,000. Marcum Wealth LLC lifted its holdings in Marathon Petroleum by 34.9% during the 1st quarter. Marcum Wealth LLC now owns 3,852 shares of the oil and gas company’s stock worth $776,000 after buying an additional 997 shares during the last quarter. Aprio Wealth Management LLC purchased a new position in shares of Marathon Petroleum in the 1st quarter valued at about $261,000. American National Bank raised its position in shares of Marathon Petroleum by 263.2% during the 1st quarter. American National Bank now owns 276 shares of the oil and gas company’s stock worth $56,000 after acquiring an additional 200 shares in the last quarter. Finally, KMG Fiduciary Partners LLC lifted its stake in Marathon Petroleum by 7.4% during the first quarter. KMG Fiduciary Partners LLC now owns 1,791 shares of the oil and gas company’s stock worth $361,000 after purchasing an additional 123 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MPC shares. The Goldman Sachs Group raised their price objective on shares of Marathon Petroleum from $175.00 to $211.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. JPMorgan Chase & Co. increased their target price on shares of Marathon Petroleum from $172.00 to $186.00 and gave the stock a “neutral” rating in a research note on Monday, April 1st. Bank of America boosted their price target on Marathon Petroleum from $185.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Barclays decreased their price objective on Marathon Petroleum from $221.00 to $195.00 and set an “overweight” rating for the company in a research report on Monday, May 6th. Finally, Raymond James cut their price target on Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating for the company in a research note on Thursday, May 30th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $192.08.

Marathon Petroleum Stock Down 0.6 %

MPC stock opened at $172.67 on Friday. 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’s 50-day moving average price is $181.41 and its 200 day moving average price is $174.68. Marathon Petroleum Co. has a 52 week low of $108.88 and a 52 week high of $221.11. The company has a market cap of $60.84 billion, a P/E ratio of 8.62, a P/E/G ratio of 1.55 and a beta of 1.45.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.25. The firm had revenue of $32.71 billion during the quarter, compared to the consensus estimate of $32.07 billion. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. Marathon Petroleum’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period last year, the business posted $6.09 EPS. On average, research analysts expect that Marathon Petroleum Co. will post 18.65 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 16th were paid a $0.825 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $3.30 dividend on an annualized basis and a yield of 1.91%. Marathon Petroleum’s payout ratio is 16.48%.

Marathon Petroleum announced that its Board of Directors has initiated a stock repurchase 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 buy up to 7.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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.