Elo Mutual Pension Insurance Co Lowers Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Elo Mutual Pension Insurance Co lessened its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 19.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 32,526 shares of the oil and gas company’s stock after selling 7,877 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Marathon Petroleum were worth $5,643,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Scarborough Advisors LLC lifted its holdings in shares of Marathon Petroleum by 10.7% during the 4th quarter. Scarborough Advisors LLC now owns 2,174 shares of the oil and gas company’s stock worth $323,000 after acquiring an additional 210 shares during the period. Global Assets Advisory LLC acquired a new position in shares of Marathon Petroleum during the 1st quarter valued at $36,823,000. Founders Financial Securities LLC boosted its position in shares of Marathon Petroleum by 22.8% in 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 holdings in Marathon Petroleum by 3.2% in the 1st quarter. Fidelis Capital Partners LLC now owns 3,050 shares of the oil and gas company’s stock worth $615,000 after acquiring an additional 94 shares during the period. Finally, Franklin Resources Inc. grew its holdings in Marathon Petroleum by 17.6% during the 4th quarter. Franklin Resources Inc. now owns 692,063 shares of the oil and gas company’s stock valued at $102,675,000 after purchasing an additional 103,471 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

MPC opened at $164.67 on Thursday. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86. The company’s 50-day moving average price is $169.97 and its 200 day moving average price is $179.93. Marathon Petroleum Co. has a fifty-two week low of $139.32 and a fifty-two week high of $221.11. The firm has a market cap of $58.02 billion, a price-to-earnings ratio of 8.23, a price-to-earnings-growth ratio of 2.09 and a beta of 1.38.

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 the consensus estimate of $3.09 by $1.03. The business had revenue of $38.36 billion for the quarter, compared to the consensus estimate of $36.66 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The business’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $5.32 EPS. As a group, sell-side analysts expect 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. Stockholders of record on Wednesday, August 21st were given a dividend of $0.825 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $3.30 annualized dividend and a dividend yield of 2.00%. Marathon Petroleum’s dividend payout ratio is currently 16.48%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MPC. Piper Sandler dropped their target price on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating on the stock in a research report on Friday, June 14th. Jefferies Financial Group upped their target price on Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Barclays decreased their price target on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a research report on Monday, July 1st. StockNews.com cut shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Friday, June 14th. Finally, TD Cowen raised their price objective on shares of Marathon Petroleum from $187.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Two 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $199.46.

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.