Marathon Petroleum Co. (NYSE:MPC) Shares Acquired by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. increased its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 25.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,925 shares of the oil and gas company’s stock after acquiring an additional 1,597 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Marathon Petroleum were worth $1,597,000 as of its most recent SEC filing.

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

Marathon Petroleum Stock Performance

NYSE MPC opened at $173.48 on Friday. The business’s 50-day moving average price is $178.71 and its 200 day moving average price is $175.76. The company has a current ratio of 1.43, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. Marathon Petroleum Co. has a twelve month low of $112.82 and a twelve month high of $221.11. The company has a market capitalization of $61.12 billion, a PE ratio of 8.67, a price-to-earnings-growth ratio of 1.62 and a beta of 1.45.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.25. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The business had revenue of $32.71 billion for the quarter, compared to analyst estimates of $32.07 billion. During the same period in the prior year, the firm posted $6.09 EPS. The company’s revenue was down 6.2% on a year-over-year basis. On average, research analysts predict that Marathon Petroleum Co. will post 17.85 earnings per share for the current year.

Marathon Petroleum declared that its Board of Directors has authorized a share buyback 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 reacquire up to 7.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Thursday, May 16th were paid a dividend of $0.825 per share. The ex-dividend date was Wednesday, May 15th. This represents a $3.30 annualized dividend and a dividend yield of 1.90%. Marathon Petroleum’s dividend payout ratio is presently 16.48%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MPC. Piper Sandler reduced their price objective on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating for the company in a report on Friday, June 14th. StockNews.com lowered shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Bank of America raised their target price on shares of Marathon Petroleum from $185.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Barclays reduced their price target on shares of Marathon Petroleum from $221.00 to $195.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Finally, Mizuho dropped their price objective on shares of Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating for the company in a research note on Thursday, June 20th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $192.08.

Marathon Petroleum 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.