Tsfg LLC Decreases Stake in Marathon Petroleum Co. (NYSE:MPC)

Tsfg LLC cut its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 23.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 257 shares of the oil and gas company’s stock after selling 80 shares during the quarter. Tsfg LLC’s holdings in Marathon Petroleum were worth $52,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. The Goldman Sachs Group upped their target price on shares of Marathon Petroleum from $175.00 to $211.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Scotiabank increased their price objective on Marathon Petroleum from $175.00 to $207.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. StockNews.com cut shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Tudor Pickering raised shares of Marathon Petroleum to a “strong-buy” rating in a research note on Thursday, May 30th. Finally, Raymond James reduced their price objective on Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating on the stock in a research note on Thursday, May 30th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $192.08.

Marathon Petroleum Price Performance

Shares of MPC stock opened at $173.40 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 1.43. The firm has a market cap of $61.09 billion, a P/E ratio of 8.66, a P/E/G ratio of 1.61 and a beta of 1.45. The business’s 50 day moving average price is $178.71 and its 200-day moving average price is $175.53. Marathon Petroleum Co. has a fifty-two week low of $112.82 and a fifty-two week high of $221.11.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.25. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The business had revenue of $32.71 billion for the quarter, compared to analysts’ expectations of $32.07 billion. During the same quarter in the previous year, the business posted $6.09 earnings per share. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. On average, equities research analysts anticipate that Marathon Petroleum Co. will post 17.85 earnings per share for the current year.

Marathon Petroleum declared that its board has authorized a share repurchase program on Tuesday, April 30th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to buy up to 7.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were issued a $0.825 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $3.30 annualized dividend and a yield of 1.90%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

Marathon Petroleum Company 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.