MAI Capital Management Boosts Stake in Marathon Petroleum Corporation $MPC

MAI Capital Management lifted its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 14.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 23,141 shares of the oil and gas company’s stock after acquiring an additional 2,870 shares during the period. MAI Capital Management’s holdings in Marathon Petroleum were worth $4,460,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MPC. Associated Banc Corp boosted its holdings in shares of Marathon Petroleum by 2.1% in the 3rd quarter. Associated Banc Corp now owns 2,475 shares of the oil and gas company’s stock worth $477,000 after purchasing an additional 52 shares in the last quarter. CoreCap Advisors LLC lifted its position in Marathon Petroleum by 2.6% in the 3rd quarter. CoreCap Advisors LLC now owns 2,363 shares of the oil and gas company’s stock worth $456,000 after buying an additional 59 shares during the last quarter. FSM Wealth Advisors LLC grew its position in Marathon Petroleum by 1.6% during the third quarter. FSM Wealth Advisors LLC now owns 3,944 shares of the oil and gas company’s stock valued at $760,000 after acquiring an additional 63 shares during the last quarter. Warwick Investment Management Inc. grew its position in Marathon Petroleum by 4.6% during the third quarter. Warwick Investment Management Inc. now owns 1,436 shares of the oil and gas company’s stock valued at $277,000 after acquiring an additional 63 shares during the last quarter. Finally, Simmons Bank raised its stake in shares of Marathon Petroleum by 1.3% during the third quarter. Simmons Bank now owns 5,105 shares of the oil and gas company’s stock worth $984,000 after acquiring an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Marathon Petroleum in a report on Thursday, January 22nd. The Goldman Sachs Group raised their price objective on Marathon Petroleum from $204.00 to $211.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Wall Street Zen lowered Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Piper Sandler dropped their target price on Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Finally, Wells Fargo & Company lifted their price target on Marathon Petroleum from $213.00 to $217.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 4th. Ten analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $202.19.

Marathon Petroleum Stock Performance

Marathon Petroleum stock opened at $201.13 on Friday. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $210.32. The firm has a market cap of $60.46 billion, a P/E ratio of 15.07, a P/E/G ratio of 1.27 and a beta of 0.74. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 1.31. The firm has a 50-day moving average of $181.48 and a 200-day moving average of $184.05.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share for the quarter, topping the consensus estimate of $3.73 by $0.34. Marathon Petroleum had a return on equity of 14.00% and a net margin of 2.99%.The business had revenue of $32.57 billion during the quarter, compared to analysts’ expectations of $30.89 billion. During the same quarter last year, the business posted $0.77 EPS. The business’s revenue was down .1% on a year-over-year basis. Sell-side analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Wednesday, February 18th will be issued a $1.00 dividend. The ex-dividend date is Wednesday, February 18th. This represents a $4.00 annualized dividend and a yield of 2.0%. Marathon Petroleum’s payout ratio is 29.96%.

Marathon Petroleum Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.