Retirement Guys Formula LLC Makes New $212,000 Investment in Marathon Petroleum Co. (NYSE:MPC)

Retirement Guys Formula LLC purchased a new position in shares of Marathon Petroleum Co. (NYSE:MPC) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,050 shares of the oil and gas company’s stock, valued at approximately $212,000.

A number of other hedge funds also recently bought and sold shares of MPC. Lazard Asset Management LLC raised its holdings in shares of Marathon Petroleum by 47.9% during the third quarter. Lazard Asset Management LLC now owns 37,573 shares of the oil and gas company’s stock valued at $5,685,000 after acquiring an additional 12,163 shares during the last quarter. Truist Financial Corp raised its holdings in shares of Marathon Petroleum by 2.4% during the third quarter. Truist Financial Corp now owns 117,271 shares of the oil and gas company’s stock valued at $17,748,000 after acquiring an additional 2,703 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Marathon Petroleum by 0.7% during the third quarter. Advisors Asset Management Inc. now owns 18,609 shares of the oil and gas company’s stock valued at $2,816,000 after acquiring an additional 122 shares during the last quarter. KGH Ltd acquired a new stake in shares of Marathon Petroleum in the third quarter valued at approximately $16,647,000. Finally, Scotia Capital Inc. increased its holdings in shares of Marathon Petroleum by 71.9% in the third quarter. Scotia Capital Inc. now owns 19,859 shares of the oil and gas company’s stock valued at $3,006,000 after purchasing an additional 8,303 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Up 0.5 %

NYSE:MPC opened at $174.99 on Friday. The firm has a market cap of $61.65 billion, a PE ratio of 8.74, a price-to-earnings-growth ratio of 1.63 and a beta of 1.40. The stock has a fifty day moving average price of $176.75 and a 200 day moving average price of $176.30. Marathon Petroleum Co. has a 12-month low of $112.82 and a 12-month high of $221.11. 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 (NYSE:MPC) last released its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.25. The firm had revenue of $32.71 billion during the quarter, compared to analyst estimates of $32.07 billion. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. Marathon Petroleum’s revenue was down 6.2% compared to the same quarter last year. During the same period last year, the business posted $6.09 earnings per share. Sell-side analysts anticipate that Marathon Petroleum Co. will post 17.85 earnings per share for the current fiscal year.

Marathon Petroleum announced that its board has authorized 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 purchase up to 7.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 16th were issued a $0.825 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $3.30 dividend on an annualized basis and a yield of 1.89%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

Analysts Set New Price Targets

MPC has been the subject of several recent research reports. Barclays cut 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. 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. Piper Sandler cut 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. StockNews.com cut Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Finally, Bank of America raised their target price on Marathon Petroleum from $185.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and an average target price of $191.31.

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.