Atomi Financial Group Inc. Increases Stake in Marathon Petroleum Co. (NYSE:MPC)

Atomi Financial Group Inc. raised its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 68.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,710 shares of the oil and gas company’s stock after acquiring an additional 2,733 shares during the quarter. Atomi Financial Group Inc.’s holdings in Marathon Petroleum were worth $1,093,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Granite Bay Wealth Management LLC bought a new stake in Marathon Petroleum during the second quarter valued at about $219,537,000. Capital Wealth Planning LLC increased its holdings in Marathon Petroleum by 10,902.9% in the 1st quarter. Capital Wealth Planning LLC now owns 1,110,630 shares of the oil and gas company’s stock worth $223,792,000 after acquiring an additional 1,100,536 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Marathon Petroleum by 980.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 684,718 shares of the oil and gas company’s stock worth $118,785,000 after acquiring an additional 621,336 shares during the period. Panagora Asset Management Inc. boosted its position in shares of Marathon Petroleum by 64.1% in the second quarter. Panagora Asset Management Inc. now owns 619,049 shares of the oil and gas company’s stock worth $107,393,000 after purchasing an additional 241,746 shares during the period. Finally, Pacer Advisors Inc. raised its position in shares of Marathon Petroleum by 8.5% during the 2nd quarter. Pacer Advisors Inc. now owns 2,669,815 shares of the oil and gas company’s stock valued at $463,160,000 after purchasing an additional 209,270 shares during the period. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Down 7.6 %

Shares of MPC stock opened at $160.02 on Wednesday. The company has a market cap of $56.38 billion, a PE ratio of 7.99, a price-to-earnings-growth ratio of 2.59 and a beta of 1.37. Marathon Petroleum Co. has a 1 year low of $140.98 and a 1 year high of $221.11. The stock’s 50 day simple moving average is $169.71 and its two-hundred day simple moving average is $178.07. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 0.90.

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 for the quarter, beating the consensus estimate of $3.09 by $1.03. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. 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 firm posted $5.32 EPS. Marathon Petroleum’s quarterly revenue was up 4.2% compared to the same quarter last year. Research analysts predict that Marathon Petroleum Co. will post 10.56 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. 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 2.06%. Marathon Petroleum’s dividend payout ratio is presently 16.48%.

Wall Street Analysts Forecast Growth

MPC has been the subject of a number of analyst reports. Piper Sandler cut their price target on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. StockNews.com downgraded Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Barclays dropped their price target on Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a research note on Monday, July 1st. Morgan Stanley lowered their target price on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Finally, Scotiabank cut their target price on shares of Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $196.14.

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.