Western Wealth Management LLC Raises Stock Holdings in Marathon Petroleum Corporation $MPC

Western Wealth Management LLC raised its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 24.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,731 shares of the oil and gas company’s stock after purchasing an additional 538 shares during the quarter. Western Wealth Management LLC’s holdings in Marathon Petroleum were worth $454,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of 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 in the last quarter. Boston Partners boosted its stake in 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 valued at $791,274,000 after acquiring an additional 2,011,810 shares during the last quarter. Wellington Management Group LLP grew its holdings in 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 worth $1,722,664,000 after acquiring an additional 1,862,674 shares in the last quarter. Geode Capital Management LLC increased its position 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 worth $1,325,598,000 after purchasing an additional 1,033,645 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Marathon Petroleum in the 1st quarter valued at about $147,122,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MPC. TD Cowen decreased their price target on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Barclays increased their target price on Marathon Petroleum from $194.00 to $202.00 and gave the stock an “overweight” rating in a report on Monday. Wall Street Zen upgraded Marathon Petroleum from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. JPMorgan Chase & Co. raised their price objective on Marathon Petroleum from $183.00 to $211.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 12th. Finally, Wells Fargo & Company lowered their target price on shares of Marathon Petroleum from $214.00 to $213.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Eight research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, Marathon Petroleum currently has a consensus rating of “Hold” and a consensus price target of $202.14.

Marathon Petroleum Trading Up 1.8%

NYSE:MPC opened at $199.44 on Wednesday. The firm has a market capitalization of $59.95 billion, a P/E ratio of 21.26, a P/E/G ratio of 3.74 and a beta of 0.90. The business has a 50 day simple moving average of $190.28 and a 200 day simple moving average of $175.35. 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 Corporation has a 12-month low of $115.10 and a 12-month high of $202.29.

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, beating analysts’ consensus estimates of $3.00 by $0.01. The company had revenue of $34.81 billion for the quarter, compared to analysts’ expectations of $31.06 billion. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%. Equities research analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 19th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, November 19th. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s dividend payout ratio (DPR) is presently 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.