FourThought Financial Partners LLC Has $5.23 Million Position in Marathon Petroleum Corporation $MPC

FourThought Financial Partners LLC lessened its stake in Marathon Petroleum Corporation (NYSE:MPC) by 1.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 31,508 shares of the oil and gas company’s stock after selling 373 shares during the period. FourThought Financial Partners LLC’s holdings in Marathon Petroleum were worth $5,234,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisors Asset Management Inc. boosted its holdings in Marathon Petroleum by 1.9% in the second quarter. Advisors Asset Management Inc. now owns 11,338 shares of the oil and gas company’s stock valued at $1,883,000 after acquiring an additional 213 shares during the last quarter. Laurel Wealth Advisors LLC lifted its position in Marathon Petroleum by 16,741.9% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 84,883 shares of the oil and gas company’s stock valued at $14,100,000 after purchasing an additional 84,379 shares during the period. RiverFront Investment Group LLC bought a new position in shares of Marathon Petroleum in the 2nd quarter valued at about $1,653,000. Steward Partners Investment Advisory LLC grew its position in shares of Marathon Petroleum by 3.7% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 185,763 shares of the oil and gas company’s stock worth $30,857,000 after buying an additional 6,588 shares during the period. Finally, Quadcap Wealth Management LLC bought a new stake in shares of Marathon Petroleum during the second quarter worth approximately $571,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MPC has been the topic of a number of recent research reports. Piper Sandler raised their price objective on shares of Marathon Petroleum from $220.00 to $231.00 and gave the company a “neutral” rating in a research note on Friday, November 14th. Dbs Bank upgraded Marathon Petroleum to a “moderate buy” rating in a research report on Monday, July 28th. BMO Capital Markets upped their price objective on Marathon Petroleum from $208.00 to $210.00 in a report on Tuesday, November 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Marathon Petroleum in a research note on Wednesday, October 8th. Finally, Bank of America boosted their target price on Marathon Petroleum from $184.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 3rd. Eight analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $202.14.

Marathon Petroleum Trading Down 0.1%

NYSE:MPC opened at $190.39 on Tuesday. 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 business’s 50-day simple moving average is $191.08 and its 200-day simple moving average is $176.63. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $202.29. The stock has a market capitalization of $57.23 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 1.00 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $31.06 billion. Sell-side analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share 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. Investors of record on Wednesday, November 19th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, November 19th. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s dividend payout ratio (DPR) is currently 42.64%.

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.