Hennion & Walsh Asset Management Inc. Has $1.65 Million Position in Marathon Petroleum Co. (NYSE:MPC)

Hennion & Walsh Asset Management Inc. boosted its holdings in Marathon Petroleum Co. (NYSE:MPC) by 4.1% during the third quarter, Holdings Channel reports. The fund owned 10,129 shares of the oil and gas company’s stock after purchasing an additional 396 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Marathon Petroleum were worth $1,650,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in MPC. Founders Financial Securities LLC lifted its stake in shares of Marathon Petroleum by 22.8% during the 2nd quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company’s stock worth $863,000 after buying an additional 924 shares during the last quarter. Fidelis Capital Partners LLC lifted its position in Marathon Petroleum by 3.2% during the first quarter. Fidelis Capital Partners LLC now owns 3,050 shares of the oil and gas company’s stock worth $615,000 after acquiring an additional 94 shares during the last quarter. LRI Investments LLC bought a new stake in shares of Marathon Petroleum during the first quarter worth approximately $97,000. Magnolia Capital Advisors LLC increased its stake in shares of Marathon Petroleum by 353.4% during the second quarter. Magnolia Capital Advisors LLC now owns 55,989 shares of the oil and gas company’s stock worth $9,713,000 after purchasing an additional 43,639 shares during the period. Finally, Granite Bay Wealth Management LLC acquired a new stake in Marathon Petroleum during the 2nd quarter worth approximately $4,075,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analysts Set New Price Targets

MPC has been the topic of a number of research reports. Bank of America began coverage on Marathon Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $174.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. BMO Capital Markets decreased their target price on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Piper Sandler cut their price target on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. Finally, TD Cowen raised their price objective on Marathon Petroleum from $187.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $187.00.

Marathon Petroleum Stock Down 0.3 %

Shares of NYSE MPC opened at $152.36 on Friday. The stock has a 50-day moving average price of $165.37 and a two-hundred day moving average price of $173.79. Marathon Petroleum Co. has a 12 month low of $140.98 and a 12 month high of $221.11. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86. The company has a market cap of $50.99 billion, a price-to-earnings ratio of 8.01, a PEG ratio of 3.03 and a beta of 1.37.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $1.03. The firm had revenue of $38.36 billion for the quarter, compared to analyst estimates of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $5.32 earnings per share. As a group, analysts forecast that Marathon Petroleum Co. will post 8.71 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were issued a $0.825 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $3.30 dividend on an annualized basis and a yield of 2.17%. Marathon Petroleum’s payout ratio is presently 17.34%.

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.