MQS Management LLC Invests $1.02 Million in Marathon Petroleum Co. (NYSE:MPC)

MQS Management LLC bought a new stake in shares of Marathon Petroleum Co. (NYSE:MPC) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 5,867 shares of the oil and gas company’s stock, valued at approximately $1,018,000. Marathon Petroleum accounts for 0.6% of MQS Management LLC’s holdings, making the stock its 6th largest position.

Several other institutional investors and hedge funds have also modified their holdings of the stock. FinTrust Capital Advisors LLC raised its stake in shares of Marathon Petroleum by 400.0% during the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Crewe Advisors LLC bought a new stake in Marathon Petroleum in the first quarter worth approximately $29,000. ICA Group Wealth Management LLC acquired a new position in shares of Marathon Petroleum during the 4th quarter worth $30,000. Wellington Shields & Co. LLC acquired a new stake in shares of Marathon Petroleum in the 1st quarter valued at $40,000. Finally, TruNorth Capital Management LLC acquired a new stake in shares of Marathon Petroleum in the 2nd quarter valued at $35,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MPC. Piper Sandler cut their target price on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating on the stock in a report on Friday, June 14th. Morgan Stanley cut their price objective on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating on the stock in a research note on Monday. Tudor Pickering downgraded Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 9th. JPMorgan Chase & Co. reduced their price objective on shares of Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Finally, TD Cowen raised their target price on shares of Marathon Petroleum from $187.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $199.46.

Marathon Petroleum Trading Up 0.5 %

Shares of MPC stock opened at $164.67 on Thursday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31. The firm has a fifty day moving average of $169.97 and a 200-day moving average of $179.93. Marathon Petroleum Co. has a 52-week low of $139.32 and a 52-week high of $221.11. The stock has a market cap of $58.02 billion, a price-to-earnings ratio of 8.23, a P/E/G ratio of 2.09 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $1.03. The firm had revenue of $38.36 billion during the quarter, compared to analyst estimates of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.32 earnings per share. On average, equities research analysts forecast that Marathon Petroleum Co. will post 12.68 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were given a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio (DPR) is 16.48%.

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.