Citizens Financial Group Inc. RI Boosts Stock Position in Marathon Petroleum Corporation $MPC

Citizens Financial Group Inc. RI increased its position in Marathon Petroleum Corporation (NYSE:MPC) by 250.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,225 shares of the oil and gas company’s stock after acquiring an additional 49,495 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Marathon Petroleum were worth $11,499,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MPC. Westwood Holdings Group Inc. raised its position in shares of Marathon Petroleum by 5.6% during the 2nd quarter. Westwood Holdings Group Inc. now owns 4,229 shares of the oil and gas company’s stock valued at $702,000 after purchasing an additional 225 shares during the period. Cetera Investment Advisers increased its stake in Marathon Petroleum by 2.4% in the 2nd quarter. Cetera Investment Advisers now owns 84,570 shares of the oil and gas company’s stock worth $14,048,000 after buying an additional 1,944 shares in the last quarter. Creative Planning increased its stake in Marathon Petroleum by 0.5% in the 2nd quarter. Creative Planning now owns 176,368 shares of the oil and gas company’s stock worth $29,297,000 after buying an additional 880 shares in the last quarter. WealthShield Partners LLC raised its holdings in Marathon Petroleum by 9.1% during the second quarter. WealthShield Partners LLC now owns 7,695 shares of the oil and gas company’s stock valued at $1,278,000 after acquiring an additional 640 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Marathon Petroleum by 4.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 75,346 shares of the oil and gas company’s stock worth $12,516,000 after acquiring an additional 3,081 shares during the period. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MPC. Wall Street Zen raised Marathon Petroleum from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Dbs Bank raised shares of Marathon Petroleum to a “moderate buy” rating in a report on Monday, July 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Marathon Petroleum in a research note on Wednesday, October 8th. BMO Capital Markets lifted their price target on shares of Marathon Petroleum from $208.00 to $210.00 in a report on Tuesday, November 11th. Finally, Piper Sandler raised their price objective on Marathon Petroleum from $220.00 to $231.00 and gave the company a “neutral” rating in a research report on Friday. Eight research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $201.57.

Marathon Petroleum Stock Performance

Marathon Petroleum stock opened at $199.91 on Friday. The company’s 50-day moving average price is $189.65 and its 200-day moving average price is $174.27. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 1.31. The company has a market cap of $60.09 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 3.88 and a beta of 0.90. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $202.30.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results 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 firm had revenue of $34.81 billion during the quarter, compared to the consensus estimate of $31.06 billion. On average, equities research analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 19th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $4.00 annualized dividend 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 presently 38.81%.

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.