Douglas Lane & Associates LLC Decreases Stake in Marathon Petroleum Co. (NYSE:MPC)

Douglas Lane & Associates LLC decreased its position in Marathon Petroleum Co. (NYSE:MPCFree Report) by 5.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 138,879 shares of the oil and gas company’s stock after selling 7,591 shares during the period. Douglas Lane & Associates LLC’s holdings in Marathon Petroleum were worth $27,984,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. &PARTNERS boosted its holdings in Marathon Petroleum by 193.5% in the 1st quarter. &PARTNERS now owns 5,714 shares of the oil and gas company’s stock worth $1,151,000 after buying an additional 3,767 shares during the period. MJP Associates Inc. ADV bought a new position in Marathon Petroleum in the 1st quarter valued at $256,000. Meyer Handelman Co. boosted its holdings in Marathon Petroleum by 4.4% in the 1st quarter. Meyer Handelman Co. now owns 250,296 shares of the oil and gas company’s stock valued at $50,435,000 after purchasing an additional 10,620 shares during the period. RFG Advisory LLC boosted its holdings in Marathon Petroleum by 32.9% in the 1st quarter. RFG Advisory LLC now owns 15,156 shares of the oil and gas company’s stock valued at $3,054,000 after purchasing an additional 3,755 shares during the period. Finally, BTC Capital Management Inc. bought a new position in Marathon Petroleum in the 1st quarter valued at $6,740,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on MPC. JPMorgan Chase & Co. raised their price target on shares of Marathon Petroleum from $172.00 to $186.00 and gave the company a “neutral” rating in a report on Monday, April 1st. StockNews.com cut shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Piper Sandler lowered their price objective on shares of Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating on the stock in a research report on Friday, June 14th. Scotiabank raised their price objective on shares of Marathon Petroleum from $175.00 to $207.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Finally, Mizuho lowered their price objective on shares of Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating on the stock in a research report on Thursday. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $192.08.

Check Out Our Latest Analysis on MPC

Marathon Petroleum Stock Performance

Shares of MPC traded down $0.99 during trading hours on Friday, hitting $172.67. The stock had a trading volume of 7,346,460 shares, compared to its average volume of 2,355,093. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 1.43. The firm has a 50-day moving average price of $181.41 and a 200 day moving average price of $174.68. The firm has a market capitalization of $60.84 billion, a price-to-earnings ratio of 8.62, a PEG ratio of 1.55 and a beta of 1.45. Marathon Petroleum Co. has a fifty-two week low of $108.88 and a fifty-two week high of $221.11.

Marathon Petroleum (NYSE:MPCGet Free Report) last released its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (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 business had revenue of $32.71 billion during the quarter, compared to analyst estimates of $32.07 billion. During the same quarter in the prior year, the firm earned $6.09 earnings per share. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. As a group, research analysts anticipate that Marathon Petroleum Co. will post 18.65 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were paid a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend was Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

Marathon Petroleum announced that its Board of Directors has initiated a stock buyback program on Tuesday, April 30th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to buy up to 7.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

About Marathon Petroleum

(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.

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

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