Walker Asset Management LLC Takes $211,000 Position in Marathon Petroleum Co. (NYSE:MPC)

Walker Asset Management LLC acquired a new position in shares of Marathon Petroleum Co. (NYSE:MPCFree Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,049 shares of the oil and gas company’s stock, valued at approximately $211,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. NBC Securities Inc. raised its holdings in shares of Marathon Petroleum by 0.9% during the first quarter. NBC Securities Inc. now owns 6,333 shares of the oil and gas company’s stock worth $1,276,000 after purchasing an additional 55 shares during the period. Bruce G. Allen Investments LLC increased its holdings in Marathon Petroleum by 27.3% in the first quarter. Bruce G. Allen Investments LLC now owns 275 shares of the oil and gas company’s stock worth $55,000 after buying an additional 59 shares during the last quarter. Marino Stram & Associates LLC grew its holdings in Marathon Petroleum by 0.5% during the fourth quarter. Marino Stram & Associates LLC now owns 11,424 shares of the oil and gas company’s stock valued at $1,695,000 after purchasing an additional 60 shares during the last quarter. SteelPeak Wealth LLC grew its stake in shares of Marathon Petroleum by 0.3% in the fourth quarter. SteelPeak Wealth LLC now owns 20,408 shares of the oil and gas company’s stock worth $3,028,000 after acquiring an additional 67 shares during the last quarter. Finally, Aaron Wealth Advisors LLC lifted its position in Marathon Petroleum by 4.5% in the fourth quarter. Aaron Wealth Advisors LLC now owns 1,559 shares of the oil and gas company’s stock worth $231,000 after purchasing an additional 67 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

MPC has been the topic of a number of recent analyst reports. Wells Fargo & Company reduced their price target on shares of Marathon Petroleum from $227.00 to $223.00 and set an “overweight” rating on the stock in a research report on Thursday, June 6th. StockNews.com downgraded shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Raymond James reduced their price target on shares of Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating on the stock in a research note on Thursday, May 30th. Tudor Pickering upgraded shares of Marathon Petroleum to a “strong-buy” rating in a report on Thursday, May 30th. Finally, Barclays cut their price objective on shares of Marathon Petroleum from $221.00 to $195.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $192.08.

Read Our Latest Analysis on Marathon Petroleum

Marathon Petroleum Price Performance

NYSE:MPC traded up $0.25 during trading hours on Friday, reaching $173.91. 696,906 shares of the company’s stock were exchanged, compared to its average volume of 2,691,675. The company has a quick ratio of 0.99, a current ratio of 1.43 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $61.27 billion, a P/E ratio of 8.67, a price-to-earnings-growth ratio of 1.54 and a beta of 1.45. Marathon Petroleum Co. has a 12 month low of $108.88 and a 12 month high of $221.11. The business’s 50-day simple moving average is $182.13 and its two-hundred day simple moving average is $174.35.

Marathon Petroleum (NYSE:MPCGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.25. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The firm had revenue of $32.71 billion during the quarter, compared to analysts’ expectations of $32.07 billion. During the same quarter last year, the company earned $6.09 earnings per share. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. Sell-side analysts expect that Marathon Petroleum Co. will post 18.65 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were paid a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio (DPR) is 16.48%.

Marathon Petroleum announced that its Board of Directors has approved a share buyback plan on Tuesday, April 30th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the oil and gas company to reacquire up to 7.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Marathon Petroleum Profile

(Free Report)

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.

Read More

Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

Receive News & Ratings for Marathon Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.