Edgestream Partners L.P. Raises Position in Marathon Petroleum Co. (NYSE:MPC)

Edgestream Partners L.P. lifted its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 271.7% during the second quarter, Holdings Channel reports. The fund owned 15,686 shares of the oil and gas company’s stock after acquiring an additional 11,466 shares during the period. Edgestream Partners L.P.’s holdings in Marathon Petroleum were worth $2,721,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. FinTrust Capital Advisors LLC raised its position in Marathon Petroleum by 400.0% in the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 100 shares in the last quarter. Crewe Advisors LLC acquired a new stake in Marathon Petroleum in the first quarter valued at approximately $29,000. ICA Group Wealth Management LLC purchased a new position in Marathon Petroleum in the fourth quarter worth approximately $30,000. Vima LLC acquired a new position in Marathon Petroleum during the 4th quarter worth approximately $30,000. Finally, TruNorth Capital Management LLC purchased a new stake in shares of Marathon Petroleum in the 2nd quarter valued at approximately $35,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Scotiabank lowered their target price on shares of Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. TD Cowen increased their price objective on Marathon Petroleum from $187.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. decreased their target price on Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Piper Sandler dropped their price target on shares of Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating on the stock in a research note on Friday, June 14th. Finally, Tudor, Pickering, Holt & Co. downgraded shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a research report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Marathon Petroleum currently has an average rating of “Hold” and an average price target of $199.46.

Marathon Petroleum Stock Performance

NYSE MPC opened at $164.67 on Thursday. The firm has a market cap of $58.02 billion, a P/E ratio of 8.23, a P/E/G ratio of 2.09 and a beta of 1.38. Marathon Petroleum Co. has a 52-week low of $139.32 and a 52-week high of $221.11. The business’s 50-day moving average price is $169.97 and its 200 day moving average price is $179.93. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86.

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

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were paid a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

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.