Profund Advisors LLC Has $3.22 Million Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Profund Advisors LLC raised its stake in Marathon Petroleum Co. (NYSE:MPC) by 2.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,579 shares of the oil and gas company’s stock after buying an additional 506 shares during the period. Profund Advisors LLC’s holdings in Marathon Petroleum were worth $3,223,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Raymond James & Associates grew its position in Marathon Petroleum by 2.6% during the 2nd quarter. Raymond James & Associates now owns 4,286,892 shares of the oil and gas company’s stock worth $743,690,000 after acquiring an additional 107,915 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Marathon Petroleum by 1.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,080,958 shares of the oil and gas company’s stock valued at $620,815,000 after purchasing an additional 31,100 shares in the last quarter. Boston Partners grew its holdings in shares of Marathon Petroleum by 0.3% during the first quarter. Boston Partners now owns 2,773,050 shares of the oil and gas company’s stock worth $558,390,000 after purchasing an additional 8,476 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Marathon Petroleum by 8.5% in the second quarter. Pacer Advisors Inc. now owns 2,669,815 shares of the oil and gas company’s stock valued at $463,160,000 after buying an additional 209,270 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in Marathon Petroleum by 7.6% in the 1st quarter. Acadian Asset Management LLC now owns 1,663,835 shares of the oil and gas company’s stock valued at $335,241,000 after buying an additional 117,790 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Tudor Pickering cut shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, September 9th. Piper Sandler lowered 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. StockNews.com lowered Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Tudor, Pickering, Holt & Co. downgraded Marathon Petroleum from a “buy” rating to a “sell” rating in a research report on Monday, September 9th. Finally, JPMorgan Chase & Co. reduced their target price on Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Marathon Petroleum has a consensus rating of “Hold” and an average price target of $197.69.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $164.39 on Monday. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86. Marathon Petroleum Co. has a 52 week low of $139.32 and a 52 week high of $221.11. The firm has a 50 day moving average of $169.99 and a 200-day moving average of $179.83. The company has a market cap of $57.92 billion, a price-to-earnings ratio of 8.21, a price-to-earnings-growth 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 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 business had revenue of $38.36 billion during the quarter, compared to analysts’ expectations of $36.66 billion. During the same period last year, the company posted $5.32 earnings per share. The business’s quarterly revenue was up 4.2% on a year-over-year basis. On average, equities analysts forecast that Marathon Petroleum Co. will post 12.68 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

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 dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio (DPR) is currently 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.