HBK Sorce Advisory LLC Increases Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

HBK Sorce Advisory LLC raised its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 16.2% during the second quarter, Holdings Channel reports. The firm owned 3,126 shares of the oil and gas company’s stock after buying an additional 435 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Marathon Petroleum were worth $542,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MPC. Gryphon Financial Partners LLC increased its position in shares of Marathon Petroleum by 81.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 4,226 shares of the oil and gas company’s stock valued at $627,000 after buying an additional 1,895 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Marathon Petroleum by 1.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 102,650 shares of the oil and gas company’s stock worth $15,229,000 after acquiring an additional 1,542 shares during the period. Foundations Investment Advisors LLC raised its position in shares of Marathon Petroleum by 11.1% in the 4th quarter. Foundations Investment Advisors LLC now owns 3,365 shares of the oil and gas company’s stock worth $499,000 after acquiring an additional 335 shares in the last quarter. NorthRock Partners LLC lifted its stake in shares of Marathon Petroleum by 11.4% in the 4th quarter. NorthRock Partners LLC now owns 3,367 shares of the oil and gas company’s stock valued at $499,000 after purchasing an additional 345 shares during the period. Finally, Tortoise Investment Management LLC boosted its position in shares of Marathon Petroleum by 12.5% during the fourth quarter. Tortoise Investment Management LLC now owns 847 shares of the oil and gas company’s stock valued at $126,000 after purchasing an additional 94 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MPC. Jefferies Financial Group increased their price objective on Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a report on Monday, July 15th. TD Cowen lifted their price target on shares of Marathon Petroleum from $187.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Barclays dropped their price objective 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. Wolfe Research began coverage on shares of Marathon Petroleum in a research note on Thursday, July 18th. They set an “outperform” rating and a $200.00 target price for the company. Finally, Raymond James dropped their price target on Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating on the stock in a research report on Thursday, May 30th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $198.38.

Marathon Petroleum Stock Up 1.3 %

MPC stock opened at $163.58 on Friday. 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 Co. has a 1-year low of $139.32 and a 1-year high of $221.11. The stock has a market capitalization of $54.75 billion, a P/E ratio of 8.17, a P/E/G ratio of 2.09 and a beta of 1.38. The business has a fifty day moving average price of $170.03 and a 200-day moving average price of $180.07.

Marathon Petroleum (NYSE:MPC) last issued its 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 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 was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.32 EPS. Equities analysts forecast that Marathon Petroleum Co. will post 12.68 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were issued a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 2.02%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio is currently 16.48%.

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.