Capital Wealth Planning LLC Has $195.98 Million Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Capital Wealth Planning LLC grew its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 1.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,129,690 shares of the oil and gas company’s stock after purchasing an additional 19,060 shares during the period. Marathon Petroleum makes up 2.1% of Capital Wealth Planning LLC’s investment portfolio, making the stock its 22nd biggest holding. Capital Wealth Planning LLC owned about 0.32% of Marathon Petroleum worth $195,979,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in MPC. Norges Bank acquired a new position in shares of Marathon Petroleum during the fourth quarter valued at about $500,685,000. Granite Bay Wealth Management LLC bought a new stake in shares of Marathon Petroleum during the second quarter worth about $219,537,000. Assenagon Asset Management S.A. increased its position in shares of Marathon Petroleum by 980.3% during the second quarter. Assenagon Asset Management S.A. now owns 684,718 shares of the oil and gas company’s stock worth $118,785,000 after acquiring an additional 621,336 shares in the last quarter. Schroder Investment Management Group increased its position in shares of Marathon Petroleum by 309.9% during the fourth quarter. Schroder Investment Management Group now owns 643,590 shares of the oil and gas company’s stock worth $95,483,000 after acquiring an additional 486,573 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its position in shares of Marathon Petroleum by 64.1% during the second quarter. Panagora Asset Management Inc. now owns 619,049 shares of the oil and gas company’s stock worth $107,393,000 after acquiring an additional 241,746 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $163.58 on Monday. The stock has a market capitalization of $57.63 billion, a P/E ratio of 8.17, a PEG ratio of 2.09 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 firm’s 50 day moving average is $170.03 and its 200 day moving average is $180.16. Marathon Petroleum Co. has a 12 month low of $139.32 and a 12 month high of $221.11.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $1.03. The company had revenue of $38.36 billion for the quarter, compared to analysts’ expectations of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. Marathon Petroleum’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company posted $5.32 EPS. On average, sell-side analysts anticipate that Marathon Petroleum Co. will post 12.68 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum’s payout ratio is currently 16.48%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MPC shares. Piper Sandler decreased their target price on shares of Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating for the company in a research report on Friday, June 14th. JPMorgan Chase & Co. decreased their target price on shares of Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Tudor, Pickering, Holt & Co. downgraded shares of Marathon Petroleum from a “buy” rating to a “sell” rating in a research report on Monday, September 9th. Wolfe Research began coverage on shares of Marathon Petroleum in a research report on Thursday, July 18th. They issued an “outperform” rating and a $200.00 price objective for the company. Finally, Jefferies Financial Group upped their price objective on shares of Marathon Petroleum from $222.00 to $231.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $198.38.

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.