MGB Wealth Management LLC Has $4.70 Million Holdings in Marathon Petroleum Co. (NYSE:MPC)

MGB Wealth Management LLC boosted its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 3.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,360 shares of the oil and gas company’s stock after acquiring an additional 785 shares during the quarter. Marathon Petroleum makes up approximately 1.9% of MGB Wealth Management LLC’s portfolio, making the stock its 9th largest holding. MGB Wealth Management LLC’s holdings in Marathon Petroleum were worth $4,697,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Scarborough Advisors LLC lifted its holdings in Marathon Petroleum by 10.7% in the 4th quarter. Scarborough Advisors LLC now owns 2,174 shares of the oil and gas company’s stock worth $323,000 after purchasing an additional 210 shares during the last quarter. Global Assets Advisory LLC acquired a new stake in shares of Marathon Petroleum in the first quarter worth $36,823,000. First Horizon Advisors Inc. boosted its holdings in shares of Marathon Petroleum by 8.9% during the 4th quarter. First Horizon Advisors Inc. now owns 1,174 shares of the oil and gas company’s stock worth $174,000 after buying an additional 96 shares during the period. Canoe Financial LP bought a new position in Marathon Petroleum in the 4th quarter worth $33,604,000. Finally, Allworth Financial LP lifted its position in Marathon Petroleum by 3.2% during the 4th quarter. Allworth Financial LP now owns 10,899 shares of the oil and gas company’s stock worth $1,617,000 after acquiring an additional 340 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group boosted 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. Barclays reduced their target price on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a research note on Monday, July 1st. Raymond James lowered their price target on 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. Bank of America lifted their price objective on Marathon Petroleum from $185.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Finally, Piper Sandler cut their target price on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating for the company in a research note on Friday, June 14th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $191.31.

Marathon Petroleum Trading Down 0.2 %

MPC traded down $0.39 during trading on Friday, reaching $163.90. 439,594 shares of the company’s stock were exchanged, compared to its average volume of 2,679,178. The company’s fifty day moving average price is $174.45 and its 200-day moving average price is $176.75. The firm has a market capitalization of $57.75 billion, a PE ratio of 8.21, a P/E/G ratio of 1.60 and a beta of 1.40. Marathon Petroleum Co. has a fifty-two week low of $117.28 and a fifty-two week high of $221.11. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 1.43.

Marathon Petroleum (NYSE:MPC) last issued 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. The firm had revenue of $32.71 billion for the quarter, compared to analysts’ expectations of $32.07 billion. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The company’s revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the business earned $6.09 earnings per share. As a group, equities analysts forecast that Marathon Petroleum Co. will post 16.9 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

Marathon Petroleum declared that its Board of Directors has authorized a share buyback program on Tuesday, April 30th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to buy up to 7.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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.