Pettyjohn Wood & White Inc. Makes New $223,000 Investment in Marathon Petroleum Corporation $MPC

Pettyjohn Wood & White Inc. acquired a new position in Marathon Petroleum Corporation (NYSE:MPC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,340 shares of the oil and gas company’s stock, valued at approximately $223,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MPC. Activest Wealth Management boosted its holdings in Marathon Petroleum by 290.2% in the second quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 119 shares in the last quarter. WPG Advisers LLC purchased a new position in shares of Marathon Petroleum in the 1st quarter valued at approximately $32,000. NewSquare Capital LLC boosted its stake in Marathon Petroleum by 103.1% in the 2nd quarter. NewSquare Capital LLC now owns 199 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 101 shares in the last quarter. Stone House Investment Management LLC grew its position in Marathon Petroleum by 46.1% during the 2nd quarter. Stone House Investment Management LLC now owns 225 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 71 shares during the last quarter. Finally, Operose Advisors LLC acquired a new position in Marathon Petroleum during the 1st quarter valued at approximately $42,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Trading Up 1.4%

Shares of MPC opened at $190.53 on Friday. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $202.29. 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 market capitalization of $57.27 billion, a P/E ratio of 20.31, a PEG ratio of 4.57 and a beta of 0.90. The firm’s 50-day moving average is $190.87 and its two-hundred day moving average is $176.12.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share for the quarter, topping analysts’ consensus estimates of $3.00 by $0.01. The business 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%. On average, research analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Wednesday, November 19th will be given a $1.00 dividend. The ex-dividend date is Wednesday, November 19th. This represents a $4.00 annualized dividend and a dividend yield of 2.1%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s payout ratio is presently 42.64%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MPC shares. BMO Capital Markets boosted their price objective on shares of Marathon Petroleum from $208.00 to $210.00 in a report on Tuesday, November 11th. Morgan Stanley boosted their price target on Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, October 3rd. Scotiabank restated an “outperform” rating on shares of Marathon Petroleum in a research note on Thursday, October 9th. UBS Group upped their target price on Marathon Petroleum from $203.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, September 26th. Finally, Evercore ISI raised their price target on shares of Marathon Petroleum from $170.00 to $210.00 and gave the stock an “in-line” rating in a research report on Friday, September 19th. Eight analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $202.14.

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.