EverSource Wealth Advisors LLC Has $1.27 Million Position in Marathon Petroleum Co. (NYSE:MPC)

EverSource Wealth Advisors LLC boosted its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 0.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,165 shares of the oil and gas company’s stock after buying an additional 61 shares during the period. EverSource Wealth Advisors LLC’s holdings in Marathon Petroleum were worth $1,268,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MPC. Granite Bay Wealth Management LLC bought a new stake in Marathon Petroleum during the 2nd quarter worth approximately $219,537,000. Capital Wealth Planning LLC raised its holdings in shares of Marathon Petroleum by 10,902.9% in the first quarter. Capital Wealth Planning LLC now owns 1,110,630 shares of the oil and gas company’s stock valued at $223,792,000 after purchasing an additional 1,100,536 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Marathon Petroleum by 980.3% during the second 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 purchasing an additional 621,336 shares in the last quarter. Schroder Investment Management Group grew its position in Marathon Petroleum by 309.9% in the 4th quarter. Schroder Investment Management Group now owns 643,590 shares of the oil and gas company’s stock worth $95,483,000 after purchasing an additional 486,573 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its stake in Marathon Petroleum by 64.1% in the 2nd quarter. Panagora Asset Management Inc. now owns 619,049 shares of the oil and gas company’s stock valued at $107,393,000 after buying an additional 241,746 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on the company. Morgan Stanley decreased their price target on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Raymond James lowered their target price on Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating on the stock in a research note on Thursday, May 30th. Wolfe Research assumed coverage on shares of Marathon Petroleum in a research report on Thursday, July 18th. They set an “outperform” rating and a $200.00 price target for the company. StockNews.com cut shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Finally, Mizuho decreased their price target on shares of Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Marathon Petroleum currently has a consensus rating of “Hold” and a consensus price target of $197.69.

Marathon Petroleum Stock Down 1.2 %

Shares of Marathon Petroleum stock opened at $164.39 on Monday. The company’s fifty day simple moving average is $169.99 and its two-hundred day simple moving average is $179.83. Marathon Petroleum Co. has a 12-month low of $139.32 and a 12-month high of $221.11. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86. The company has a market cap of $57.92 billion, a P/E ratio of 8.21, a PEG ratio of 2.09 and a beta of 1.38.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $36.66 billion. During the same period in the prior year, the firm earned $5.32 earnings per share. Marathon Petroleum’s revenue was up 4.2% on a year-over-year basis. Research analysts anticipate that Marathon Petroleum Co. will post 12.68 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were paid a $0.825 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $3.30 annualized dividend and a yield of 2.01%. Marathon Petroleum’s payout ratio is 16.48%.

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.