Independent Advisor Alliance Grows Holdings in Marathon Petroleum Corporation $MPC

Independent Advisor Alliance increased its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 111.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 14,419 shares of the oil and gas company’s stock after purchasing an additional 7,604 shares during the period. Independent Advisor Alliance’s holdings in Marathon Petroleum were worth $2,779,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Associated Banc Corp raised its holdings in shares of Marathon Petroleum by 2.1% in the 3rd quarter. Associated Banc Corp now owns 2,475 shares of the oil and gas company’s stock valued at $477,000 after buying an additional 52 shares during the period. CoreCap Advisors LLC grew its position in Marathon Petroleum by 2.6% in the 3rd quarter. CoreCap Advisors LLC now owns 2,363 shares of the oil and gas company’s stock valued at $456,000 after acquiring an additional 59 shares in the last quarter. FSM Wealth Advisors LLC increased its stake in Marathon Petroleum by 1.6% during the third quarter. FSM Wealth Advisors LLC now owns 3,944 shares of the oil and gas company’s stock worth $760,000 after purchasing an additional 63 shares during the period. Warwick Investment Management Inc. lifted its position in shares of Marathon Petroleum by 4.6% during the third quarter. Warwick Investment Management Inc. now owns 1,436 shares of the oil and gas company’s stock worth $277,000 after purchasing an additional 63 shares in the last quarter. Finally, Werba Rubin Papier Wealth Management boosted its stake in shares of Marathon Petroleum by 4.2% in the second quarter. Werba Rubin Papier Wealth Management now owns 1,577 shares of the oil and gas company’s stock valued at $262,000 after purchasing an additional 64 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Up 0.2%

Shares of NYSE MPC opened at $176.06 on Monday. The business has a 50-day moving average of $177.62 and a two-hundred day moving average of $180.59. The company has a market capitalization of $52.92 billion, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 1.81 and a beta of 0.74. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $202.29. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.32 and a quick ratio of 0.79.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.01. The business had revenue of $34.81 billion for the quarter, compared to analyst estimates of $31.06 billion. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%. On average, analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Wednesday, February 18th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, February 18th. Marathon Petroleum’s dividend payout ratio (DPR) is 42.64%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MPC. Wall Street Zen cut shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Citigroup decreased their target price on Marathon Petroleum from $185.00 to $182.00 and set a “neutral” rating for the company in a report on Wednesday, January 14th. Piper Sandler cut their price target on Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Zacks Research lowered Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Finally, The Goldman Sachs Group lowered their price objective on Marathon Petroleum from $206.00 to $204.00 and set a “buy” rating for the company in a research report on Thursday, January 22nd. Ten research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $197.19.

About Marathon Petroleum

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.