Gordian Capital Singapore Pte Ltd Buys Shares of 2,850 Marathon Petroleum Co. (NYSE:MPC)

Gordian Capital Singapore Pte Ltd purchased a new position in shares of Marathon Petroleum Co. (NYSE:MPC) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,850 shares of the oil and gas company’s stock, valued at approximately $494,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Granite Bay Wealth Management LLC acquired a new stake in shares of Marathon Petroleum during the 2nd quarter valued at approximately $219,537,000. Capital Wealth Planning LLC raised its holdings in Marathon Petroleum by 10,902.9% during the first quarter. Capital Wealth Planning LLC now owns 1,110,630 shares of the oil and gas company’s stock worth $223,792,000 after purchasing an additional 1,100,536 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Marathon Petroleum by 980.3% during the second quarter. Assenagon Asset Management S.A. now owns 684,718 shares of the oil and gas company’s stock worth $118,785,000 after purchasing an additional 621,336 shares in the last quarter. Schroder Investment Management Group increased its position in shares of Marathon Petroleum by 309.9% in the fourth quarter. Schroder Investment Management Group now owns 643,590 shares of the oil and gas company’s stock valued at $95,483,000 after buying an additional 486,573 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its stake in shares of Marathon Petroleum by 64.1% during the 2nd quarter. Panagora Asset Management Inc. now owns 619,049 shares of the oil and gas company’s stock worth $107,393,000 after buying an additional 241,746 shares during the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MPC has been the topic of several analyst reports. Piper Sandler decreased their price target on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. Morgan Stanley dropped their price target on shares of Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Barclays dropped their target price on Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating on the stock in a research report on Monday, July 1st. Scotiabank dropped their price target on shares of Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Finally, JPMorgan Chase & Co. cut their target price on Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $197.69.

Marathon Petroleum Trading Up 1.8 %

NYSE:MPC opened at $165.84 on Wednesday. The stock’s 50-day moving average is $169.68 and its two-hundred day moving average is $178.79. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 0.90. The stock has a market cap of $58.43 billion, a PE ratio of 8.28, a price-to-earnings-growth ratio of 2.59 and a beta of 1.38. Marathon Petroleum Co. has a fifty-two week low of $139.32 and a fifty-two week high of $221.11.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data 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 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 analyst estimates of $36.66 billion. During the same quarter in the prior year, the business earned $5.32 EPS. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, equities 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 given a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.99%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum’s payout ratio is currently 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.