Marathon Petroleum Co. (NYSE:MPC) Shares Bought by AE Wealth Management LLC

AE Wealth Management LLC boosted its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 184.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,206 shares of the oil and gas company’s stock after purchasing an additional 17,657 shares during the period. AE Wealth Management LLC’s holdings in Marathon Petroleum were worth $4,720,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board boosted its stake in shares of Marathon Petroleum by 6.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,285,248 shares of the oil and gas company’s stock worth $222,965,000 after acquiring an additional 72,192 shares in the last quarter. Joseph Group Capital Management lifted its holdings in shares of Marathon Petroleum by 11.1% during the second quarter. Joseph Group Capital Management now owns 11,346 shares of the oil and gas company’s stock valued at $1,968,000 after purchasing an additional 1,133 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of Marathon Petroleum by 3.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 7,110 shares of the oil and gas company’s stock valued at $1,234,000 after purchasing an additional 256 shares during the period. Ieq Capital LLC raised its holdings in Marathon Petroleum by 11.0% during the 2nd quarter. Ieq Capital LLC now owns 20,549 shares of the oil and gas company’s stock worth $3,565,000 after buying an additional 2,039 shares during the period. Finally, Brighton Jones LLC lifted its stake in Marathon Petroleum by 17.0% during the second quarter. Brighton Jones LLC now owns 5,035 shares of the oil and gas company’s stock valued at $874,000 after buying an additional 733 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Trading Down 1.2 %

NYSE:MPC opened at $164.39 on Friday. The company has a market capitalization of $57.92 billion, a P/E ratio of 8.21, a P/E/G ratio of 2.09 and a beta of 1.38. The stock’s 50 day moving average price is $169.99 and its 200 day moving average price is $179.80. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31. Marathon Petroleum Co. has a 52 week low of $139.32 and a 52 week high of $221.11.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, topping the consensus estimate of $3.09 by $1.03. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The company had revenue of $38.36 billion for the quarter, compared to analyst estimates of $36.66 billion. During the same quarter in the prior year, the business posted $5.32 EPS. Marathon Petroleum’s quarterly revenue was up 4.2% on a year-over-year basis. On average, research analysts forecast that Marathon Petroleum Co. will post 12.68 EPS 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. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.01%. Marathon Petroleum’s dividend payout ratio is currently 16.48%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Scotiabank dropped their target price on shares of Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Wells Fargo & Company cut their target price 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. Piper Sandler decreased their target price on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday. Raymond James dropped their price target on Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating on the stock in a research report on Thursday, May 30th. Finally, TD Cowen raised their price objective on Marathon Petroleum from $187.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Hold” and an average price target of $197.69.

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.