Ballentine Partners LLC Has $3.04 Million Stake in Marathon Petroleum Co. (NYSE:MPC)

Ballentine Partners LLC boosted its stake in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 47.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,668 shares of the oil and gas company's stock after purchasing an additional 6,017 shares during the quarter. Ballentine Partners LLC's holdings in Marathon Petroleum were worth $3,041,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MPC. Financial Partners Group LLC grew its stake in shares of Marathon Petroleum by 3.3% in the third quarter. Financial Partners Group LLC now owns 2,220 shares of the oil and gas company's stock valued at $362,000 after acquiring an additional 71 shares in the last quarter. West Michigan Advisors LLC increased its holdings in shares of Marathon Petroleum by 3.0% during the third quarter. West Michigan Advisors LLC now owns 18,347 shares of the oil and gas company's stock worth $2,989,000 after purchasing an additional 532 shares during the period. Dakota Wealth Management raised its position in shares of Marathon Petroleum by 0.4% in the third quarter. Dakota Wealth Management now owns 24,302 shares of the oil and gas company's stock valued at $3,959,000 after buying an additional 95 shares in the last quarter. Woodard & Co. Asset Management Group Inc. ADV boosted its stake in shares of Marathon Petroleum by 8.1% in the third quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 10,579 shares of the oil and gas company's stock valued at $1,723,000 after buying an additional 797 shares during the period. Finally, Hennion & Walsh Asset Management Inc. grew its position in Marathon Petroleum by 4.1% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 10,129 shares of the oil and gas company's stock worth $1,650,000 after buying an additional 396 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Trading Down 0.3 %

MPC traded down $0.52 during trading on Friday, hitting $152.36. The company's stock had a trading volume of 1,045,549 shares, compared to its average volume of 2,666,899. The firm has a market capitalization of $50.99 billion, a P/E ratio of 8.02, a PEG ratio of 3.03 and a beta of 1.37. Marathon Petroleum Co. has a twelve month low of $140.98 and a twelve month high of $221.11. The company has a quick ratio of 0.90, a current ratio of 1.31 and a debt-to-equity ratio of 0.86. The stock's fifty day moving average price is $165.92 and its 200-day moving average price is $174.24.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (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 for the quarter, compared to analyst estimates of $36.66 billion. During the same period in the prior year, the firm earned $5.32 earnings per share. Marathon Petroleum's revenue was up 4.2% on a year-over-year basis. Analysts anticipate that Marathon Petroleum Co. will post 8.71 EPS for the current 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 dividend of $0.825 per share. The ex-dividend date was Wednesday, August 21st. This represents a $3.30 annualized dividend and a dividend yield of 2.17%. Marathon Petroleum's dividend payout ratio is 17.34%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Wells Fargo & Company cut their target price on Marathon Petroleum from $196.00 to $183.00 and set an "overweight" rating for the company in a research report on Wednesday, October 9th. Scotiabank reduced their price objective on shares of Marathon Petroleum from $191.00 to $170.00 and set a "sector outperform" rating on the stock in a research note on Thursday, October 10th. Jefferies Financial Group boosted their target price on shares of Marathon Petroleum from $222.00 to $231.00 and gave the company a "buy" rating in a research report on Monday, July 15th. Mizuho reduced their price target on shares of Marathon Petroleum from $198.00 to $193.00 and set a "neutral" rating on the stock in a research report on Monday, September 16th. Finally, Piper Sandler lowered their price objective 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. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $187.00.

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.