Accordant Advisory Group Inc Increases Stake in Marathon Petroleum Co. (NYSE:MPC)

Accordant Advisory Group Inc raised its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 4.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,267 shares of the oil and gas company’s stock after buying an additional 700 shares during the quarter. Marathon Petroleum comprises 2.0% of Accordant Advisory Group Inc’s portfolio, making the stock its 17th largest holding. Accordant Advisory Group Inc’s holdings in Marathon Petroleum were worth $2,487,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in MPC. FinTrust Capital Advisors LLC lifted its position in Marathon Petroleum by 400.0% in the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the oil and gas company’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Crewe Advisors LLC bought a new stake in Marathon Petroleum in the 1st quarter worth approximately $29,000. TruNorth Capital Management LLC bought a new stake in Marathon Petroleum in the 2nd quarter worth approximately $35,000. Industrial Alliance Investment Management Inc. bought a new stake in Marathon Petroleum in the 2nd quarter worth approximately $35,000. Finally, Wellington Shields & Co. LLC bought a new stake in Marathon Petroleum in the 1st quarter worth approximately $40,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on MPC. TD Cowen boosted their target price on Marathon Petroleum from $187.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Wolfe Research started coverage on Marathon Petroleum in a research note on Thursday, July 18th. They issued an “outperform” rating and a $200.00 price target on the stock. Piper Sandler decreased their price target on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. Jefferies Financial Group lifted their price target on Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Finally, Tudor, Pickering, Holt & Co. cut Marathon Petroleum from a “buy” rating to a “sell” rating in a research note on Monday, September 9th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $187.00.

Marathon Petroleum Trading Up 0.8 %

Marathon Petroleum stock opened at $158.24 on Wednesday. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86. The business’s fifty day simple moving average is $166.98 and its two-hundred day simple moving average is $174.53. Marathon Petroleum Co. has a 12 month low of $140.98 and a 12 month high of $221.11. The company has a market capitalization of $55.75 billion, a price-to-earnings ratio of 7.90, a price-to-earnings-growth ratio of 2.65 and a beta of 1.37.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results 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. The firm had revenue of $38.36 billion for the quarter, compared to the consensus estimate of $36.66 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $5.32 earnings per share. As a group, equities analysts predict that Marathon Petroleum Co. will post 10.22 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend was Wednesday, August 21st. Marathon Petroleum’s payout ratio is currently 16.48%.

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.