Bahl & Gaynor Inc. Buys 1,062 Shares of Marathon Petroleum Co. (NYSE:MPC)

Bahl & Gaynor Inc. lifted its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 31.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,453 shares of the oil and gas company’s stock after purchasing an additional 1,062 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Marathon Petroleum were worth $773,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MPC. FinTrust Capital Advisors LLC lifted its holdings in shares of Marathon Petroleum by 400.0% in the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock worth $25,000 after buying an additional 100 shares in the last quarter. Crewe Advisors LLC bought a new stake in Marathon Petroleum during the 1st quarter worth approximately $29,000. ICA Group Wealth Management LLC purchased a new stake in Marathon Petroleum in the 4th quarter worth approximately $30,000. Vima LLC bought a new position in Marathon Petroleum in the 4th quarter valued at $30,000. Finally, Manchester Capital Management LLC increased its holdings in shares of Marathon Petroleum by 97.2% in the fourth quarter. Manchester Capital Management LLC now owns 215 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 106 shares during the period. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MPC. Scotiabank dropped their price objective on 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. Piper Sandler cut their price objective on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating for the company in a report on Friday, June 14th. Barclays lowered their target price on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating on the stock in a research note on Monday, July 1st. Tudor Pickering cut shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research note on Monday. Finally, Wolfe Research began coverage on shares of Marathon Petroleum in a research report on Thursday, July 18th. They set an “outperform” rating and a $200.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, six have issued 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, the stock has an average rating of “Hold” and an average target price of $198.38.

Marathon Petroleum Stock Performance

NYSE MPC opened at $161.49 on Friday. The firm has a market cap of $56.90 billion, a price-to-earnings ratio of 8.07, a PEG ratio of 2.18 and a beta of 1.38. The company has a 50-day simple moving average of $170.17 and a two-hundred day simple moving average of $180.07. 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 Co. has a 12-month low of $139.32 and a 12-month high of $221.11.

Marathon Petroleum (NYSE:MPC) last posted 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 analyst estimates of $36.66 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. Marathon Petroleum’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the company earned $5.32 EPS. On average, equities analysts forecast that Marathon Petroleum Co. will post 12.68 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders 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 yield of 2.04%. 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.