Commonwealth Equity Services LLC Boosts Position in Marathon Petroleum Co. (NYSE:MPC)

Commonwealth Equity Services LLC grew its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 2.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 158,390 shares of the oil and gas company’s stock after buying an additional 3,247 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Marathon Petroleum were worth $27,478,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Concurrent Investment Advisors LLC increased its holdings in Marathon Petroleum by 17.6% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 15,597 shares of the oil and gas company’s stock valued at $2,706,000 after purchasing an additional 2,338 shares in the last quarter. Hixon Zuercher LLC grew its stake in shares of Marathon Petroleum by 30.8% in the second quarter. Hixon Zuercher LLC now owns 3,802 shares of the oil and gas company’s stock valued at $660,000 after buying an additional 895 shares in the last quarter. Legacy Advisors LLC raised its holdings in shares of Marathon Petroleum by 5.0% during the 2nd quarter. Legacy Advisors LLC now owns 1,238 shares of the oil and gas company’s stock valued at $215,000 after buying an additional 59 shares during the period. Rothschild Investment LLC acquired a new position in Marathon Petroleum during the 2nd quarter worth approximately $1,183,000. Finally, United Capital Management of KS Inc. boosted its holdings in Marathon Petroleum by 1.2% in the 2nd quarter. United Capital Management of KS Inc. now owns 38,930 shares of the oil and gas company’s stock worth $6,754,000 after acquiring an additional 464 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Trading Up 3.6 %

Marathon Petroleum stock opened at $177.12 on Monday. Marathon Petroleum Co. has a 1 year low of $139.32 and a 1 year high of $221.11. The firm’s 50-day moving average is $171.47 and its 200-day moving average is $180.32. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31. The company has a market cap of $62.40 billion, a P/E ratio of 8.85, a PEG ratio of 2.33 and a beta of 1.40.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $1.03. The firm had revenue of $38.36 billion for the quarter, compared to analysts’ expectations of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. Marathon Petroleum’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the company posted $5.32 earnings per share. On average, equities analysts expect that Marathon Petroleum Co. will post 12.68 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be paid a dividend of $0.825 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $3.30 dividend on an annualized basis and a yield of 1.86%. Marathon Petroleum’s payout ratio is currently 16.48%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Wolfe Research started coverage on shares of Marathon Petroleum in a report on Thursday, July 18th. They issued an “outperform” rating and a $200.00 price objective on the stock. Wells Fargo & Company lowered their target price on Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. TD Cowen boosted their price target on Marathon Petroleum from $187.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, Barclays lowered their price objective on Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a research note on Monday, July 1st. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus target price of $198.38.

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.