Denali Advisors LLC Buys 500 Shares of Marathon Petroleum Co. (NYSE:MPC)

Denali Advisors LLC boosted its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 15.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,800 shares of the oil and gas company’s stock after buying an additional 500 shares during the quarter. Denali Advisors LLC’s holdings in Marathon Petroleum were worth $659,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Gryphon Financial Partners LLC boosted its holdings in shares of Marathon Petroleum by 81.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 4,226 shares of the oil and gas company’s stock valued at $627,000 after purchasing an additional 1,895 shares during the period. Gladstone Institutional Advisory LLC lifted its holdings in shares of Marathon Petroleum by 7.1% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 1,642 shares of the oil and gas company’s stock worth $244,000 after buying an additional 109 shares during the period. Associated Banc Corp grew its position in shares of Marathon Petroleum by 13.7% during the 4th quarter. Associated Banc Corp now owns 4,427 shares of the oil and gas company’s stock worth $657,000 after buying an additional 533 shares in the last quarter. Sachetta LLC purchased a new position in shares of Marathon Petroleum during the fourth quarter valued at $221,000. Finally, D.A. Davidson & CO. raised its holdings in shares of Marathon Petroleum by 2.2% in the fourth quarter. D.A. Davidson & CO. now owns 27,370 shares of the oil and gas company’s stock valued at $4,061,000 after acquiring an additional 589 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Performance

MPC opened at $163.87 on Wednesday. The firm’s 50-day moving average price is $169.92 and its 200-day moving average price is $180.04. The company has a market cap of $57.74 billion, a P/E ratio of 8.19, a price-to-earnings-growth ratio of 2.09 and a beta of 1.38. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86. Marathon Petroleum Co. has a 52-week low of $139.32 and a 52-week high of $221.11.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, topping the consensus estimate of $3.09 by $1.03. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The business had revenue of $38.36 billion during the quarter, compared to the consensus estimate of $36.66 billion. During the same period in the previous year, the firm posted $5.32 earnings per share. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, equities analysts anticipate that Marathon Petroleum Co. will post 12.68 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio is presently 16.48%.

Analyst Upgrades and Downgrades

MPC has been the topic of several recent research reports. Scotiabank dropped their target price on shares of Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. StockNews.com downgraded shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Raymond James reduced their price objective on shares of Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating for the company in a research note on Thursday, May 30th. Wells Fargo & Company cut their price target on Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Finally, Piper Sandler reduced their price target on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating for the company in a research report on Friday, June 14th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $199.46.

About Marathon Petroleum

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.