Journey Advisory Group LLC Has $10.62 Million Stock Holdings in Marathon Petroleum Corporation $MPC

Journey Advisory Group LLC increased its stake in Marathon Petroleum Corporation (NYSE:MPC) by 634.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,073 shares of the oil and gas company’s stock after acquiring an additional 47,579 shares during the quarter. Journey Advisory Group LLC’s holdings in Marathon Petroleum were worth $10,615,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Los Angeles Capital Management LLC raised its stake in Marathon Petroleum by 459.5% in the 2nd quarter. Los Angeles Capital Management LLC now owns 189,973 shares of the oil and gas company’s stock valued at $31,556,000 after acquiring an additional 156,019 shares during the period. First Interstate Bank bought a new stake in shares of Marathon Petroleum during the 3rd quarter valued at $5,050,000. Generali Asset Management SPA SGR lifted its holdings in Marathon Petroleum by 36.8% during the 3rd quarter. Generali Asset Management SPA SGR now owns 41,225 shares of the oil and gas company’s stock worth $7,946,000 after purchasing an additional 11,082 shares in the last quarter. National Pension Service grew its holdings in Marathon Petroleum by 1.7% during the 3rd quarter. National Pension Service now owns 849,268 shares of the oil and gas company’s stock valued at $163,688,000 after buying an additional 14,308 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Marathon Petroleum by 11.2% during the second quarter. Vanguard Group Inc. now owns 38,866,104 shares of the oil and gas company’s stock valued at $6,456,049,000 after buying an additional 3,924,713 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Marathon Petroleum from $213.00 to $217.00 and gave the company an “overweight” rating in a research report on Wednesday, February 4th. Jefferies Financial Group cut their price target on shares of Marathon Petroleum from $216.00 to $205.00 and set a “buy” rating for the company in a report on Monday, January 26th. Mizuho upped their price target on shares of Marathon Petroleum from $198.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, January 13th. Piper Sandler dropped their price objective on Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Finally, JPMorgan Chase & Co. reduced their target price on Marathon Petroleum from $211.00 to $179.00 and set a “neutral” rating for the company in a research report on Tuesday, January 13th. Ten research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $202.19.

Marathon Petroleum Stock Up 0.2%

Shares of NYSE:MPC opened at $196.77 on Friday. The firm has a market capitalization of $59.15 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 1.27 and a beta of 0.74. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.79 and a current ratio of 1.32. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $210.32. The firm has a fifty day moving average of $179.89 and a 200 day moving average of $183.15.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share for the quarter, beating analysts’ consensus estimates of $3.73 by $0.34. Marathon Petroleum had a return on equity of 14.00% and a net margin of 2.99%.The business had revenue of $35.10 billion for the quarter, compared to the consensus estimate of $30.89 billion. During the same quarter last year, the business posted $0.77 earnings per share. The company’s revenue for the quarter was down .1% on a year-over-year basis. As a group, research analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Wednesday, February 18th will be given a $1.00 dividend. The ex-dividend date is Wednesday, February 18th. This represents a $4.00 dividend on an annualized basis and a yield of 2.0%. Marathon Petroleum’s payout ratio is presently 29.96%.

About Marathon Petroleum

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.