Global Retirement Partners LLC Takes $708,000 Position in Marathon Petroleum Corporation $MPC

Global Retirement Partners LLC purchased a new stake in Marathon Petroleum Corporation (NYSE:MPC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,261 shares of the oil and gas company’s stock, valued at approximately $708,000.

Other institutional investors also recently bought and sold shares of the company. Concord Asset Management LLC VA purchased a new stake in shares of Marathon Petroleum in the 2nd quarter worth approximately $412,000. Jump Financial LLC increased its holdings in Marathon Petroleum by 128.0% during the first quarter. Jump Financial LLC now owns 8,663 shares of the oil and gas company’s stock valued at $1,262,000 after buying an additional 4,863 shares during the period. FSM Wealth Advisors LLC bought a new position in Marathon Petroleum in the second quarter worth approximately $685,000. Los Angeles Capital Management LLC lifted its holdings in Marathon Petroleum by 459.5% during the second quarter. Los Angeles Capital Management LLC now owns 189,973 shares of the oil and gas company’s stock worth $31,556,000 after buying an additional 156,019 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Marathon Petroleum by 12.6% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 578,641 shares of the oil and gas company’s stock worth $84,302,000 after buying an additional 64,849 shares during the period. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Performance

MPC opened at $193.73 on Friday. The company has a market cap of $58.24 billion, a P/E ratio of 20.65, a price-to-earnings-growth ratio of 0.98 and a beta of 0.90. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 1.31. The firm’s 50-day moving average price is $191.67 and its 200-day moving average price is $177.36. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $202.29.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.01. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. The company had revenue of $34.81 billion for the quarter, compared to the consensus estimate of $31.06 billion. As a group, equities analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The company 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 is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.91. The ex-dividend date is Wednesday, November 19th. This represents a $4.00 dividend on an annualized basis and a yield of 2.1%. Marathon Petroleum’s dividend payout ratio (DPR) is 42.64%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MPC shares. TD Cowen reduced their price target on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Barclays lifted their target price on Marathon Petroleum from $194.00 to $202.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. Evercore ISI increased their price target on shares of Marathon Petroleum from $170.00 to $210.00 and gave the company an “in-line” rating in a research report on Friday, September 19th. Mizuho raised their price target on shares of Marathon Petroleum from $184.00 to $188.00 and gave the company a “neutral” rating in a report on Monday, September 15th. Finally, Bank of America boosted their price objective on shares of Marathon Petroleum from $184.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 3rd. Eight analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, Marathon Petroleum has an average rating of “Hold” and a consensus target price of $202.14.

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.