Marathon Petroleum Co. (NYSE:MPC) Shares Bought by Catalina Capital Group LLC

Catalina Capital Group LLC increased its stake in shares of Marathon Petroleum Co. (NYSE:MPCFree Report) by 41.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,218 shares of the oil and gas company’s stock after purchasing an additional 945 shares during the period. Catalina Capital Group LLC’s holdings in Marathon Petroleum were worth $648,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Avidian Wealth Solutions LLC raised its holdings in Marathon Petroleum by 1.2% in the 1st quarter. Avidian Wealth Solutions LLC now owns 7,816 shares of the oil and gas company’s stock valued at $1,575,000 after buying an additional 96 shares during the period. Mediolanum International Funds Ltd purchased a new stake in Marathon Petroleum during the first quarter worth about $8,828,000. RIA Advisory Group LLC acquired a new stake in shares of Marathon Petroleum during the first quarter worth about $3,871,000. Larson Financial Group LLC boosted its stake in shares of Marathon Petroleum by 82.8% in the first quarter. Larson Financial Group LLC now owns 3,889 shares of the oil and gas company’s stock valued at $784,000 after purchasing an additional 1,761 shares during the period. Finally, MRA Advisory Group purchased a new stake in Marathon Petroleum during the 1st quarter worth approximately $207,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Marathon Petroleum stock traded down $0.72 on Wednesday, reaching $162.20. 2,457,468 shares of the stock were exchanged, compared to its average volume of 2,699,837. The company has a current ratio of 1.43, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. Marathon Petroleum Co. has a twelve month low of $117.28 and a twelve month high of $221.11. The firm has a fifty day moving average price of $175.16 and a two-hundred day moving average price of $176.94. The stock has a market cap of $57.15 billion, a PE ratio of 8.10, a PEG ratio of 1.65 and a beta of 1.40.

Marathon Petroleum (NYSE:MPCGet Free Report) last released its earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 EPS for the quarter, beating the consensus estimate of $2.53 by $0.25. The firm had revenue of $32.71 billion during the quarter, compared to analysts’ expectations of $32.07 billion. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned $6.09 EPS. Sell-side analysts anticipate that Marathon Petroleum Co. will post 16.9 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 16th were paid a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 2.03%. The ex-dividend date was Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio is 16.48%.

Marathon Petroleum declared that its board has approved a share buyback plan on Tuesday, April 30th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to purchase up to 7.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Raymond James lowered their price objective on Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating for the company in a research report on Thursday, May 30th. 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. Wells Fargo & Company lowered their price objective 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. Scotiabank increased their target price on Marathon Petroleum from $175.00 to $207.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Finally, The Goldman Sachs Group upped their target price on shares of Marathon Petroleum from $175.00 to $211.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $191.31.

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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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