Meridian Wealth Advisors LLC Purchases 1,531 Shares of Marathon Petroleum Corporation $MPC

Meridian Wealth Advisors LLC increased its position in Marathon Petroleum Corporation (NYSE:MPC) by 6.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,701 shares of the oil and gas company’s stock after buying an additional 1,531 shares during the quarter. Meridian Wealth Advisors LLC’s holdings in Marathon Petroleum were worth $4,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Marathon Petroleum by 11.2% in the 2nd quarter. Vanguard Group Inc. now owns 38,866,104 shares of the oil and gas company’s stock valued at $6,456,049,000 after acquiring an additional 3,924,713 shares during the period. Wellington Management Group LLP grew its stake in shares of Marathon Petroleum by 18.7% in the first quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock worth $1,722,664,000 after purchasing an additional 1,862,674 shares during the last quarter. Geode Capital Management LLC increased its holdings in Marathon Petroleum by 14.8% in the second 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 purchasing an additional 1,033,645 shares during the period. Boston Partners raised its position in Marathon Petroleum by 13.0% during the 2nd quarter. Boston Partners now owns 6,155,996 shares of the oil and gas company’s stock worth $1,023,110,000 after purchasing an additional 707,482 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its holdings in Marathon Petroleum by 6.3% during the 1st quarter. Raymond James Financial Inc. now owns 6,037,532 shares of the oil and gas company’s stock worth $879,608,000 after buying an additional 355,215 shares during the period. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Stock Performance

Shares of MPC opened at $190.53 on Friday. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $202.29. The company has a market cap of $57.27 billion, a PE ratio of 20.31, a P/E/G ratio of 4.50 and a beta of 0.90. The stock has a 50-day moving average of $190.87 and a 200-day moving average of $175.90. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.32 and a quick ratio of 0.79.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.01. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%.The business had revenue of $34.81 billion for the quarter, compared to analyst estimates of $31.06 billion. On average, equities research analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Wednesday, November 19th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, November 19th. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s payout ratio is 42.64%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MPC. Wells Fargo & Company lowered their price objective on Marathon Petroleum from $214.00 to $213.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Raymond James Financial set a $200.00 target price on shares of Marathon Petroleum in a research report on Tuesday, November 4th. TD Cowen dropped their price target on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Wall Street Zen upgraded shares of Marathon Petroleum from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Marathon Petroleum from $183.00 to $211.00 and gave the company a “neutral” rating in a report on Wednesday, November 12th. Eight research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, Marathon Petroleum presently has a consensus rating of “Hold” and a consensus price target of $202.14.

Marathon Petroleum Company 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.