Heritage Wealth Management Inc. Has $1.60 Million Holdings in Marathon Petroleum Co. (NYSE:MPC)

Heritage Wealth Management Inc. lowered its position in Marathon Petroleum Co. (NYSE:MPC) by 1.0% in the third quarter, Holdings Channel.com reports. The fund owned 9,805 shares of the oil and gas company’s stock after selling 100 shares during the period. Heritage Wealth Management Inc.’s holdings in Marathon Petroleum were worth $1,597,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. WR Wealth Planners LLC boosted its holdings in shares of Marathon Petroleum by 15.2% during the 2nd quarter. WR Wealth Planners LLC now owns 431 shares of the oil and gas company’s stock worth $75,000 after buying an additional 57 shares during the period. D Orazio & Associates Inc. boosted its holdings in Marathon Petroleum by 3.2% in the first quarter. D Orazio & Associates Inc. now owns 1,894 shares of the oil and gas company’s stock valued at $382,000 after acquiring an additional 59 shares during the last quarter. Legacy Advisors LLC grew its stake in Marathon Petroleum by 5.0% during the second quarter. Legacy Advisors LLC now owns 1,238 shares of the oil and gas company’s stock worth $215,000 after purchasing an additional 59 shares during the period. Latitude Advisors LLC increased its stake in Marathon Petroleum by 3.6% in the second quarter. Latitude Advisors LLC now owns 1,714 shares of the oil and gas company’s stock valued at $297,000 after purchasing an additional 60 shares in the last quarter. Finally, SouthState Corp lifted its holdings in shares of Marathon Petroleum by 1.5% in the 2nd quarter. SouthState Corp now owns 4,122 shares of the oil and gas company’s stock worth $715,000 after purchasing an additional 61 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on MPC shares. Piper Sandler reduced their price target on shares of Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. Tudor Pickering cut shares of Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, September 9th. BMO Capital Markets cut their price objective on shares of Marathon Petroleum from $200.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Bank of America initiated coverage on shares of Marathon Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $174.00 price target for the company. Finally, Wells Fargo & Company decreased their price target on shares of Marathon Petroleum from $196.00 to $183.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $185.67.

Marathon Petroleum Stock Performance

Shares of MPC traded down $1.60 during mid-day trading on Friday, hitting $152.40. 52,522 shares of the company’s stock were exchanged, compared to its average volume of 2,659,393. Marathon Petroleum Co. has a fifty-two week low of $140.98 and a fifty-two week high of $221.11. The firm has a market capitalization of $51.01 billion, a P/E ratio of 8.09, a P/E/G ratio of 2.77 and a beta of 1.38. 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 50 day moving average is $161.30 and its two-hundred day moving average is $170.32.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, November 5th. The oil and gas company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.90. The company had revenue of $35.37 billion for the quarter, compared to the consensus estimate of $34.34 billion. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. Marathon Petroleum’s quarterly revenue was down 14.9% compared to the same quarter last year. During the same period in the previous year, the business earned $8.14 earnings per share. On average, equities analysts expect that Marathon Petroleum Co. will post 8.71 earnings per share for the current year.

Marathon Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a $0.91 dividend. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, November 20th. This represents a $3.64 annualized dividend and a yield of 2.39%. Marathon Petroleum’s dividend payout ratio (DPR) is 17.34%.

Marathon Petroleum declared that its board has approved a share buyback program on Tuesday, November 5th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the oil and gas company to repurchase up to 10% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Marathon Petroleum Company 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.