Certified Advisory Corp Raises Holdings in Marathon Petroleum Co. (NYSE:MPC)

Certified Advisory Corp boosted its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 7.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,616 shares of the oil and gas company’s stock after buying an additional 106 shares during the period. Certified Advisory Corp’s holdings in Marathon Petroleum were worth $280,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Raymond James & Associates lifted its stake in shares of 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 purchasing an additional 107,915 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Marathon Petroleum by 1.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,080,958 shares of the oil and gas company’s stock worth $620,815,000 after purchasing an additional 31,100 shares in the last quarter. Boston Partners raised its holdings in Marathon Petroleum by 0.3% in 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 in the last quarter. Pacer Advisors Inc. lifted its position in shares of Marathon Petroleum by 8.5% during 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 last quarter. Finally, Acadian Asset Management LLC boosted its holdings in shares of 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 in the last quarter. Institutional investors own 76.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. TD Cowen increased their target price on shares of Marathon Petroleum from $187.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Barclays decreased their price objective on Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a report on Monday, July 1st. StockNews.com downgraded Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Piper Sandler decreased their price objective on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Tudor, Pickering, Holt & Co. downgraded Marathon Petroleum from a “buy” rating to a “sell” rating in a research note on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned 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 price target of $197.69.

Marathon Petroleum Trading Down 0.1 %

Shares of NYSE:MPC opened at $164.21 on Tuesday. The company has a market capitalization of $57.86 billion, a PE ratio of 8.20, a PEG ratio of 2.09 and a beta of 1.38. Marathon Petroleum Co. has a 12-month low of $139.32 and a 12-month high of $221.11. The business has a 50 day moving average of $169.94 and a two-hundred day moving average of $179.73. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86.

Marathon Petroleum (NYSE:MPC) last announced 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 firm had revenue of $38.36 billion for the quarter, compared to the consensus estimate of $36.66 billion. During the same period in the prior year, the firm posted $5.32 earnings per share. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, analysts forecast that Marathon Petroleum Co. will post 12.68 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm 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 was Wednesday, August 21st. This represents a $3.30 annualized dividend and a dividend yield of 2.01%. Marathon Petroleum’s dividend payout ratio is presently 16.48%.

About Marathon Petroleum

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.