Phoenix Wealth Advisors Has $2.63 Million Position in Marathon Petroleum Corporation $MPC

Phoenix Wealth Advisors reduced its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 7.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,845 shares of the oil and gas company’s stock after selling 1,291 shares during the period. Marathon Petroleum makes up approximately 1.1% of Phoenix Wealth Advisors’ investment portfolio, making the stock its 25th biggest position. Phoenix Wealth Advisors’ holdings in Marathon Petroleum were worth $2,632,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of MPC. Vanguard Group Inc. boosted its stake in Marathon Petroleum by 12.3% in the first quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company’s stock valued at $5,090,611,000 after buying an additional 3,834,501 shares in the last quarter. Wellington Management Group LLP raised its position in Marathon Petroleum by 18.7% in the first quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock valued at $1,722,664,000 after purchasing an additional 1,862,674 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Marathon Petroleum by 14.8% during the second quarter. Geode Capital Management LLC now owns 8,013,213 shares of the oil and gas company’s stock valued at $1,325,598,000 after purchasing an additional 1,033,645 shares in the last quarter. Boston Partners increased its stake in shares of Marathon Petroleum by 13.0% in the second quarter. Boston Partners now owns 6,155,996 shares of the oil and gas company’s stock valued at $1,023,110,000 after buying an additional 707,482 shares during the period. Finally, Raymond James Financial Inc. boosted its position in Marathon Petroleum by 6.3% during the 1st quarter. Raymond James Financial Inc. now owns 6,037,532 shares of the oil and gas company’s stock worth $879,608,000 after buying an additional 355,215 shares during the period. Institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

MPC has been the topic of a number of recent analyst reports. Raymond James Financial set a $200.00 price objective on Marathon Petroleum in a research note on Tuesday, November 4th. Scotiabank reiterated an “outperform” rating on shares of Marathon Petroleum in a report on Thursday, October 9th. BMO Capital Markets increased their price target on Marathon Petroleum from $195.00 to $208.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Morgan Stanley lifted their price objective on shares of Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, October 3rd. Finally, Piper Sandler increased their target price on shares of Marathon Petroleum from $184.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, September 11th. Eight research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $200.00.

Marathon Petroleum Stock Performance

NYSE MPC opened at $194.75 on Friday. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $202.25. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.32 and a quick ratio of 0.79. The company has a fifty day moving average price of $189.25 and a 200-day moving average price of $173.59. The firm has a market cap of $58.54 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 3.82 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 EPS for the quarter, topping the consensus estimate of $3.00 by $0.01. The firm had revenue of $34.81 billion for the quarter, compared to analysts’ expectations of $31.06 billion. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. As a group, equities research analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 19th will be paid a $1.00 dividend. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.91. The ex-dividend date is Wednesday, November 19th. This represents a $4.00 dividend on an annualized basis and a yield of 2.1%. Marathon Petroleum’s dividend payout ratio is currently 38.81%.

Marathon Petroleum 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.