Victory Financial Group LLC Purchases New Stake in Marathon Petroleum Corporation $MPC

Victory Financial Group LLC purchased a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 7,427 shares of the oil and gas company’s stock, valued at approximately $1,234,000.

A number of other large investors have also recently made changes to their positions in MPC. Concord Asset Management LLC VA purchased a new position in shares of Marathon Petroleum during the second quarter valued at approximately $412,000. Jump Financial LLC lifted its stake in Marathon Petroleum by 128.0% during the 1st quarter. Jump Financial LLC now owns 8,663 shares of the oil and gas company’s stock valued at $1,262,000 after acquiring an additional 4,863 shares in the last quarter. Los Angeles Capital Management LLC boosted its holdings in Marathon Petroleum by 459.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 189,973 shares of the oil and gas company’s stock worth $31,556,000 after acquiring an additional 156,019 shares during the last quarter. FSM Wealth Advisors LLC purchased a new position in Marathon Petroleum during the 2nd quarter worth $685,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Marathon Petroleum by 12.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 578,641 shares of the oil and gas company’s stock worth $84,302,000 after acquiring an additional 64,849 shares in the last quarter. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $190.47 on Friday. The business’s 50 day simple moving average is $191.51 and its 200 day simple moving average is $178.33. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $202.29. The company has a market cap of $57.25 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 0.98 and a beta of 0.72. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 1.31.

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

Marathon Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Wednesday, November 19th will be paid a $1.00 dividend. The ex-dividend date is Wednesday, November 19th. This represents a $4.00 dividend on an annualized basis and a yield of 2.1%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s dividend payout ratio (DPR) is presently 42.64%.

Analyst Upgrades and Downgrades

MPC has been the topic of a number of recent analyst reports. Piper Sandler raised their price target on shares of Marathon Petroleum from $220.00 to $231.00 and gave the company a “neutral” rating in a research report on Friday, November 14th. Wells Fargo & Company dropped their target price on shares of Marathon Petroleum from $214.00 to $213.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Wall Street Zen upgraded Marathon Petroleum from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Mizuho increased their price target on Marathon Petroleum from $184.00 to $188.00 and gave the company a “neutral” rating in a research report on Monday, September 15th. Finally, Barclays lifted their price target on Marathon Petroleum from $194.00 to $202.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. Eight analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, Marathon Petroleum presently has a consensus rating of “Hold” and a consensus price target of $203.21.

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.