Traynor Capital Management Inc. Acquires 134 Shares of Marathon Petroleum Co. (NYSE:MPC)

Traynor Capital Management Inc. grew its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 4.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,201 shares of the oil and gas company’s stock after buying an additional 134 shares during the quarter. Traynor Capital Management Inc.’s holdings in Marathon Petroleum were worth $645,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Marathon Petroleum in the fourth quarter worth approximately $25,000. ICA Group Wealth Management LLC purchased a new stake in Marathon Petroleum during the fourth quarter worth $30,000. Vima LLC purchased a new stake in shares of Marathon Petroleum during the 4th quarter valued at $30,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Marathon Petroleum during the 4th quarter valued at $32,000. Finally, Bare Financial Services Inc purchased a new stake in shares of Marathon Petroleum during the 4th quarter valued at $32,000. Institutional investors own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MPC shares. Scotiabank increased their price objective on Marathon Petroleum from $175.00 to $207.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Piper Sandler reduced their target price on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating for the company in a research note on Friday, June 14th. The Goldman Sachs Group raised their target price on Marathon Petroleum from $175.00 to $211.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Tudor Pickering raised Marathon Petroleum to a “strong-buy” rating in a research report on Thursday, May 30th. Finally, Bank of America increased their price target on Marathon Petroleum from $185.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $192.08.

Marathon Petroleum Trading Up 0.8 %

MPC opened at $173.99 on Tuesday. The firm has a market capitalization of $61.30 billion, a price-to-earnings ratio of 8.69, a price-to-earnings-growth ratio of 1.54 and a beta of 1.45. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 0.99. The company’s 50 day simple moving average is $180.74 and its two-hundred day simple moving average is $175.13. Marathon Petroleum Co. has a 1-year low of $111.27 and a 1-year high of $221.11.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 EPS for the quarter, beating the consensus estimate of $2.53 by $0.25. The firm had revenue of $32.71 billion for the quarter, compared to analyst estimates of $32.07 billion. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.09 EPS. Analysts expect that Marathon Petroleum Co. will post 18.65 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were given a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Wednesday, May 15th. Marathon Petroleum’s payout ratio is 16.48%.

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

About Marathon Petroleum

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.