Marathon Petroleum Co. (NYSE:MPC) Shares Bought by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC raised its stake in Marathon Petroleum Co. (NYSE:MPC) by 3.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,905 shares of the oil and gas company’s stock after acquiring an additional 161 shares during the period. Harbor Investment Advisory LLC’s holdings in Marathon Petroleum were worth $799,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MPC. Scarborough Advisors LLC boosted its position in shares of Marathon Petroleum by 10.7% during the fourth quarter. Scarborough Advisors LLC now owns 2,174 shares of the oil and gas company’s stock worth $323,000 after buying an additional 210 shares during the period. Global Assets Advisory LLC acquired a new position in shares of Marathon Petroleum during the first quarter worth approximately $36,823,000. Founders Financial Securities LLC boosted its position in shares of Marathon Petroleum by 22.8% during the second quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company’s stock worth $863,000 after buying an additional 924 shares during the period. Fidelis Capital Partners LLC boosted its position in shares of Marathon Petroleum by 3.2% during the first quarter. Fidelis Capital Partners LLC now owns 3,050 shares of the oil and gas company’s stock worth $615,000 after buying an additional 94 shares during the period. Finally, LRI Investments LLC acquired a new position in shares of Marathon Petroleum during the first quarter worth approximately $97,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Price Performance

NYSE MPC opened at $171.98 on Friday. The business’s fifty day moving average is $169.69 and its two-hundred day moving average is $178.39. 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 1 year low of $139.93 and a 1 year high of $221.11. The stock has a market capitalization of $60.59 billion, a P/E ratio of 8.59, a P/E/G ratio of 2.59 and a beta of 1.37.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $36.66 billion. During the same period in the previous year, the business earned $5.32 EPS. The company’s revenue was up 4.2% on a year-over-year basis. On average, research analysts forecast that Marathon Petroleum Co. will post 10.56 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were paid a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 1.92%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio (DPR) is currently 16.48%.

Analysts Set New Price Targets

MPC has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their price objective on Marathon Petroleum from $186.00 to $172.00 and set a “neutral” rating for the company in a research report on Wednesday. Jefferies Financial Group upped their target price on Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Mizuho cut their target price on Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Wolfe Research started coverage on Marathon Petroleum in a research report on Thursday, July 18th. They issued an “outperform” rating and a $200.00 target price for the company. Finally, BMO Capital Markets cut their target price on Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a research report on Friday. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $196.14.

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.