Diversify Wealth Management LLC Acquires 492 Shares of Marathon Petroleum Co. (NYSE:MPC)

Diversify Wealth Management LLC grew its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 14.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,790 shares of the oil and gas company’s stock after buying an additional 492 shares during the quarter. Diversify Wealth Management LLC’s holdings in Marathon Petroleum were worth $583,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Pinnacle Associates Ltd. lifted its position in Marathon Petroleum by 20.4% in the third quarter. Pinnacle Associates Ltd. now owns 42,389 shares of the oil and gas company’s stock valued at $6,289,000 after purchasing an additional 7,196 shares during the last quarter. Pathway Financial Advisers LLC increased its stake in shares of Marathon Petroleum by 30.9% in the third quarter. Pathway Financial Advisers LLC now owns 436 shares of the oil and gas company’s stock worth $71,000 after buying an additional 103 shares during the period. Valmark Advisers Inc. raised its holdings in Marathon Petroleum by 8.7% during the 3rd quarter. Valmark Advisers Inc. now owns 3,074 shares of the oil and gas company’s stock valued at $501,000 after buying an additional 246 shares during the last quarter. Smith Group Asset Management LLC boosted its position in Marathon Petroleum by 1.3% during the 3rd quarter. Smith Group Asset Management LLC now owns 72,284 shares of the oil and gas company’s stock valued at $11,776,000 after buying an additional 951 shares during the period. Finally, Pallas Capital Advisors LLC grew its holdings in Marathon Petroleum by 34.0% in the 3rd quarter. Pallas Capital Advisors LLC now owns 2,235 shares of the oil and gas company’s stock worth $342,000 after acquiring an additional 567 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

Shares of MPC opened at $145.47 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31. The firm’s 50-day simple moving average is $163.21 and its two-hundred day simple moving average is $172.00. Marathon Petroleum Co. has a fifty-two week low of $140.98 and a fifty-two week high of $221.11. The stock has a market cap of $48.69 billion, a PE ratio of 7.64, a price-to-earnings-growth ratio of 3.03 and a beta of 1.37.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $1.03. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The business had revenue of $38.36 billion during the quarter, compared to analysts’ expectations of $36.66 billion. During the same quarter in the previous year, the business earned $5.32 earnings per share. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. Analysts anticipate that Marathon Petroleum Co. will post 8.71 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be issued a $0.91 dividend. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.83. This represents a $3.64 annualized dividend and a yield of 2.50%. Marathon Petroleum’s payout ratio is 17.34%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MPC. Wolfe Research began coverage on shares of Marathon Petroleum in a report on Thursday, July 18th. They set an “outperform” rating and a $200.00 target price for the company. Jefferies Financial Group lifted their price objective on Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Citigroup decreased their target price on Marathon Petroleum from $172.00 to $167.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Tudor, Pickering, Holt & Co. cut shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a report on Monday, September 9th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Marathon Petroleum from $172.00 to $171.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus target price of $187.00.

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.