Granite Bay Wealth Management LLC Acquires 4,838 Shares of Marathon Petroleum Co. (NYSE:MPC)

Granite Bay Wealth Management LLC increased its holdings in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 20.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,328 shares of the oil and gas company's stock after buying an additional 4,838 shares during the period. Marathon Petroleum comprises approximately 2.6% of Granite Bay Wealth Management LLC's portfolio, making the stock its 15th largest position. Granite Bay Wealth Management LLC's holdings in Marathon Petroleum were worth $4,615,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MPC. NBC Securities Inc. raised its holdings in Marathon Petroleum by 0.9% during the 1st quarter. NBC Securities Inc. now owns 6,333 shares of the oil and gas company's stock worth $1,276,000 after purchasing an additional 55 shares during the last quarter. Guidance Capital Inc. raised its holdings in Marathon Petroleum by 1.1% during the 1st quarter. Guidance Capital Inc. now owns 5,483 shares of the oil and gas company's stock worth $1,135,000 after purchasing an additional 57 shares during the last quarter. WR Wealth Planners LLC raised its holdings in 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 purchasing an additional 57 shares during the last quarter. Bruce G. Allen Investments LLC raised its holdings in Marathon Petroleum by 27.3% during the 1st quarter. Bruce G. Allen Investments LLC now owns 275 shares of the oil and gas company's stock worth $55,000 after purchasing an additional 59 shares during the last quarter. Finally, First Financial Corp IN raised its holdings in Marathon Petroleum by 2.5% during the 1st quarter. First Financial Corp IN now owns 2,429 shares of the oil and gas company's stock worth $489,000 after purchasing an additional 59 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Stock Performance

Shares of NYSE:MPC traded down $2.85 during midday trading on Friday, reaching $171.99. The company had a trading volume of 2,241,622 shares, compared to its average volume of 2,697,056. The company's 50 day moving average price is $169.69 and its 200 day moving average price is $178.52. 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 stock has a market cap of $60.60 billion, a P/E ratio of 8.59, a P/E/G ratio of 2.59 and a beta of 1.37. Marathon Petroleum Co. has a 52-week low of $139.93 and a 52-week high of $221.11.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, topping analysts' consensus estimates of $3.09 by $1.03. The company had revenue of $38.36 billion for the quarter, compared to the consensus estimate of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The firm's quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $5.32 EPS. As a group, sell-side analysts anticipate that Marathon Petroleum Co. will post 10.56 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were given a dividend of $0.825 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $3.30 dividend on an annualized basis and a yield of 1.92%. Marathon Petroleum's dividend payout ratio is presently 16.48%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MPC shares. Scotiabank lowered their price objective on shares of Marathon Petroleum from $207.00 to $191.00 and set a "sector outperform" rating for the company in a research note on Friday, July 12th. Morgan Stanley lowered their price objective on shares of Marathon Petroleum from $196.00 to $182.00 and set an "overweight" rating for the company in a research note on Monday, September 16th. Tudor Pickering lowered shares of Marathon Petroleum from a "strong-buy" rating to a "strong sell" rating in a research note on Monday, September 9th. Tudor, Pickering, Holt & Co. lowered shares of Marathon Petroleum from a "buy" rating to a "sell" rating in a research note on Monday, September 9th. Finally, Piper Sandler decreased 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 note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Marathon Petroleum has an average rating of "Moderate Buy" and an average target price of $196.14.

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.