1,282 Shares in Marathon Petroleum Corporation $MPC Bought by Oak Harvest Investment Services

Oak Harvest Investment Services purchased a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 1,282 shares of the oil and gas company’s stock, valued at approximately $213,000.

Several other institutional investors and hedge funds have also modified their holdings of MPC. Vanguard Group Inc. increased its position in Marathon Petroleum by 12.3% during the first quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company’s stock worth $5,090,611,000 after buying an additional 3,834,501 shares during the last quarter. Boston Partners boosted its stake in shares of Marathon Petroleum by 58.5% during the 1st quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company’s stock worth $791,274,000 after acquiring an additional 2,011,810 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Marathon Petroleum by 18.7% during the 1st quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock valued at $1,722,664,000 after acquiring an additional 1,862,674 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Marathon Petroleum by 14.8% in the 2nd quarter. Geode Capital Management LLC now owns 8,013,213 shares of the oil and gas company’s stock valued at $1,325,598,000 after acquiring an additional 1,033,645 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in Marathon Petroleum in the 1st quarter worth approximately $147,122,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. UBS Group increased their price target on Marathon Petroleum from $203.00 to $220.00 and gave the company a “buy” rating in a report on Friday, September 26th. Raymond James Financial set a $200.00 target price on shares of Marathon Petroleum in a research note on Tuesday, November 4th. BMO Capital Markets boosted their target price on shares of Marathon Petroleum from $195.00 to $208.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Piper Sandler raised their price target on Marathon Petroleum from $220.00 to $231.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Morgan Stanley lifted their price objective on Marathon Petroleum from $182.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, October 3rd. Eight research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $200.69.

Marathon Petroleum Stock Performance

NYSE MPC opened at $199.91 on Friday. The company’s fifty day moving average is $189.65 and its two-hundred day moving average is $174.02. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $202.30. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.32 and a quick ratio of 0.79. The firm has a market capitalization of $60.09 billion, a price-to-earnings ratio of 21.31, a P/E/G ratio of 3.77 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $3.01 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.01. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. The business had revenue of $34.81 billion during the quarter, compared to analyst estimates of $31.06 billion. Equities research analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 19th will be given a $1.00 dividend. The ex-dividend date is Wednesday, November 19th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.0%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s dividend payout ratio is 38.81%.

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.