High Net Worth Advisory Group LLC Invests $321,000 in Marathon Petroleum Co. (NYSE:MPC)

High Net Worth Advisory Group LLC purchased a new position in Marathon Petroleum Co. (NYSE:MPC) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,594 shares of the oil and gas company’s stock, valued at approximately $321,000.

Several other institutional investors have also added to or reduced their stakes in MPC. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Marathon Petroleum in the 4th quarter worth approximately $25,000. ICA Group Wealth Management LLC bought a new stake in Marathon Petroleum in the 4th quarter worth $30,000. Vima LLC bought a new position in shares of Marathon Petroleum during the fourth quarter valued at about $30,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Marathon Petroleum during the fourth quarter worth about $32,000. Finally, Bare Financial Services Inc bought a new position in Marathon Petroleum during the 4th quarter valued at approximately $32,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Performance

Shares of MPC traded up $1.49 during mid-day trading on Monday, hitting $174.16. 195,851 shares of the company traded hands, compared to its average volume of 2,726,289. The stock has a market cap of $61.36 billion, a price-to-earnings ratio of 8.62, a P/E/G ratio of 1.55 and a beta of 1.45. The stock has a 50-day moving average price of $181.41 and a two-hundred day moving average price of $174.90. Marathon Petroleum Co. has a 1 year low of $111.27 and a 1 year high of $221.11. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 1.43.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.25. The company had revenue of $32.71 billion for the quarter, compared to the consensus estimate of $32.07 billion. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The firm’s revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted $6.09 earnings per share. Equities analysts anticipate that Marathon Petroleum Co. will post 18.65 earnings per share for the current year.

Marathon Petroleum announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, April 30th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to repurchase up to 7.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 16th were paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Wednesday, May 15th. Marathon Petroleum’s payout ratio is 16.48%.

Analysts Set New Price Targets

MPC has been the topic of several research analyst reports. Wells Fargo & Company reduced their target price on Marathon Petroleum from $227.00 to $223.00 and set an “overweight” rating on the stock in a research note on Thursday, June 6th. Tudor Pickering upgraded shares of Marathon Petroleum to a “strong-buy” rating in a research report on Thursday, May 30th. Raymond James lowered their price objective on shares of Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating for the company in a report on Thursday, May 30th. Mizuho decreased their target price on Marathon Petroleum from $203.00 to $201.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, The Goldman Sachs Group lifted their price target on Marathon Petroleum from $175.00 to $211.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Six research 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 company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $192.08.

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.