Clearstead Advisors LLC Has $2.55 Million Stake in Marathon Petroleum Corporation $MPC

Clearstead Advisors LLC increased its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 24.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,208 shares of the oil and gas company’s stock after purchasing an additional 2,619 shares during the quarter. Clearstead Advisors LLC’s holdings in Marathon Petroleum were worth $2,546,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the stock. Koshinski Asset Management Inc. boosted its stake in shares of Marathon Petroleum by 1.1% during the 3rd quarter. Koshinski Asset Management Inc. now owns 8,057 shares of the oil and gas company’s stock valued at $1,553,000 after buying an additional 90 shares during the period. Journey Advisory Group LLC raised its holdings in shares of Marathon Petroleum by 634.9% during the third quarter. Journey Advisory Group LLC now owns 55,073 shares of the oil and gas company’s stock worth $10,615,000 after acquiring an additional 47,579 shares in the last quarter. Stevens Capital Management LP boosted its position in Marathon Petroleum by 232.7% during the third quarter. Stevens Capital Management LP now owns 6,081 shares of the oil and gas company’s stock valued at $1,172,000 after purchasing an additional 4,253 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new stake in Marathon Petroleum during the third quarter valued at $1,060,000. Finally, Raiffeisen Bank International AG increased its position in Marathon Petroleum by 38.5% in the 3rd quarter. Raiffeisen Bank International AG now owns 10,137 shares of the oil and gas company’s stock worth $1,992,000 after purchasing an additional 2,820 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MPC. Raymond James Financial lifted their price target on Marathon Petroleum from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Citigroup raised their price objective on shares of Marathon Petroleum from $182.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. UBS Group reissued a “buy” rating and issued a $221.00 target price on shares of Marathon Petroleum in a research report on Friday, February 6th. The Goldman Sachs Group increased their price target on shares of Marathon Petroleum from $204.00 to $211.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Finally, Piper Sandler reduced their price objective on shares of Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Ten equities 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.com, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.19.

Marathon Petroleum Price Performance

Shares of Marathon Petroleum stock opened at $195.10 on Wednesday. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $210.32. The firm has a fifty day simple moving average of $180.40 and a 200-day simple moving average of $183.85. 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 stock has a market capitalization of $58.65 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 1.25 and a beta of 0.74.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share for the quarter, topping analysts’ consensus estimates of $3.73 by $0.34. The firm had revenue of $35.10 billion during the quarter, compared to analyst estimates of $30.89 billion. Marathon Petroleum had a net margin of 2.99% and a return on equity of 14.00%. The business’s revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 EPS. On average, sell-side analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 18th 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, February 18th. Marathon Petroleum’s payout ratio is currently 29.96%.

About Marathon Petroleum

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.