Joseph Group Capital Management Purchases 1,133 Shares of Marathon Petroleum Co. (NYSE:MPC)

Joseph Group Capital Management lifted its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 11.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,346 shares of the oil and gas company’s stock after acquiring an additional 1,133 shares during the period. Joseph Group Capital Management’s holdings in Marathon Petroleum were worth $1,968,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Granite Bay Wealth Management LLC purchased a new position in shares of Marathon Petroleum in the second quarter worth $219,537,000. Capital Wealth Planning LLC raised its position in Marathon Petroleum by 10,902.9% in the 1st quarter. Capital Wealth Planning LLC now owns 1,110,630 shares of the oil and gas company’s stock worth $223,792,000 after buying an additional 1,100,536 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Marathon Petroleum by 980.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 684,718 shares of the oil and gas company’s stock valued at $118,785,000 after acquiring an additional 621,336 shares during the period. Schroder Investment Management Group boosted its holdings in shares of Marathon Petroleum by 309.9% during the 4th quarter. Schroder Investment Management Group now owns 643,590 shares of the oil and gas company’s stock valued at $95,483,000 after acquiring an additional 486,573 shares during the last quarter. Finally, Panagora Asset Management Inc. grew its stake in shares of Marathon Petroleum by 64.1% in the second quarter. Panagora Asset Management Inc. now owns 619,049 shares of the oil and gas company’s stock worth $107,393,000 after acquiring an additional 241,746 shares during the period. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Stock Up 1.0 %

Shares of MPC stock opened at $166.36 on Friday. The company has a market capitalization of $58.61 billion, a price-to-earnings ratio of 8.31, a PEG ratio of 2.09 and a beta of 1.38. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 0.90. The company’s fifty day moving average price is $170.01 and its 200-day moving average price is $179.84. Marathon Petroleum Co. has a one year low of $139.32 and a one year high of $221.11.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, beating the consensus estimate of $3.09 by $1.03. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The business had revenue of $38.36 billion for the quarter, compared to the consensus estimate of $36.66 billion. During the same period in the previous year, the business earned $5.32 earnings per share. The business’s revenue was up 4.2% on a year-over-year basis. Sell-side analysts expect that Marathon Petroleum Co. will post 12.68 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 1.98%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum’s payout ratio is currently 16.48%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MPC. Tudor Pickering cut shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a report on Monday, September 9th. Jefferies Financial Group lifted their price objective on Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Wolfe Research assumed coverage on Marathon Petroleum in a report on Thursday, July 18th. They issued an “outperform” rating and a $200.00 target price on the stock. Mizuho cut their price target on Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Wells Fargo & Company lowered their price objective on shares of Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Two equities research 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $199.46.

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.