Weaver C. Barksdale & Associates Inc. Reduces Holdings in Marathon Petroleum Co. (NYSE:MPC)

Weaver C. Barksdale & Associates Inc. lessened its holdings in Marathon Petroleum Co. (NYSE:MPC) by 1.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,210 shares of the oil and gas company’s stock after selling 146 shares during the period. Weaver C. Barksdale & Associates Inc.’s holdings in Marathon Petroleum were worth $1,598,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Gryphon Financial Partners LLC boosted its stake in shares of Marathon Petroleum by 81.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 4,226 shares of the oil and gas company’s stock worth $627,000 after purchasing an additional 1,895 shares during the last quarter. Gladstone Institutional Advisory LLC grew its stake in Marathon Petroleum by 7.1% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 1,642 shares of the oil and gas company’s stock worth $244,000 after acquiring an additional 109 shares during the period. D.A. Davidson & CO. raised its holdings in Marathon Petroleum by 2.2% in the 4th quarter. D.A. Davidson & CO. now owns 27,370 shares of the oil and gas company’s stock valued at $4,061,000 after acquiring an additional 589 shares during the last quarter. CreativeOne Wealth LLC lifted its stake in shares of Marathon Petroleum by 17.9% during the 4th quarter. CreativeOne Wealth LLC now owns 2,826 shares of the oil and gas company’s stock worth $419,000 after purchasing an additional 430 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in shares of Marathon Petroleum by 17.6% during the fourth quarter. Franklin Resources Inc. now owns 692,063 shares of the oil and gas company’s stock worth $102,675,000 after purchasing an additional 103,471 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MPC has been the topic of several research reports. Wolfe Research started coverage on shares of Marathon Petroleum in a report on Thursday, July 18th. They issued an “outperform” rating and a $200.00 price target on the stock. Tudor Pickering downgraded shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, September 9th. TD Cowen raised their price objective on Marathon Petroleum from $187.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Mizuho decreased 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. Finally, Barclays lowered their target price 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. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $199.46.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $166.36 on Friday. The business has a 50 day moving average price of $170.01 and a two-hundred day moving average price of $179.84. 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 $58.61 billion, a PE ratio of 8.31, a price-to-earnings-growth ratio of 2.09 and a beta of 1.38. 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 (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, topping analysts’ consensus estimates of $3.09 by $1.03. The business had revenue of $38.36 billion during the quarter, compared to the consensus estimate of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $5.32 earnings per share. Sell-side analysts expect that Marathon Petroleum Co. will post 12.68 earnings per share for the current fiscal 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 $0.825 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $3.30 dividend on an annualized basis and a yield of 1.98%. Marathon Petroleum’s dividend payout ratio (DPR) is 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.