11,096 Shares in Marathon Petroleum Corporation $MPC Bought by Centric Wealth Management

Key Points

• Centric Wealth Management initiated a position in Marathon Petroleum by purchasing 11,096 shares valued at approximately $2.8 million. Institutional investors collectively own 76.77% of MPC.
• Marathon Petroleum reported a strong quarter, posting $17.73 in EPS versus the $14.27 consensus estimate, while revenue rose 53.5% year over year to $51.99 billion.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $312.50 target price. MPC also declared a quarterly dividend of $1.00 per share, equivalent to a 1.1% yield.

Centric Wealth Management bought a new position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 11,096 shares of the oil and gas company's stock, valued at approximately $2,802,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Main Street Group LTD purchased a new position in shares of Marathon Petroleum during the first quarter worth about $35,000. Cedar Mountain Advisors LLC bought a new position in shares of Marathon Petroleum in the first quarter worth approximately $40,000. Navalign LLC purchased a new stake in Marathon Petroleum in the fourth quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in Marathon Petroleum during the fourth quarter valued at approximately $31,000. Finally, WFA of San Diego LLC bought a new stake in Marathon Petroleum during the second quarter valued at approximately $33,000. 76.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MPC. Wells Fargo & Company increased their price target on shares of Marathon Petroleum from $344.00 to $359.00 and gave the stock an "overweight" rating in a report on Wednesday, August 5th. Weiss Ratings raised shares of Marathon Petroleum from a "hold (c+)" rating to a "buy (b)" rating in a report on Wednesday, August 5th. Bank of America upped their target price on shares of Marathon Petroleum from $224.00 to $260.00 in a research report on Tuesday, May 26th. Zacks Research cut Marathon Petroleum from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 17th. Finally, The Goldman Sachs Group raised their price target on Marathon Petroleum from $291.00 to $376.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $312.50.

Insider Transactions at Marathon Petroleum

In other news, VP Michael A. Henschen II sold 6,336 shares of the firm's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the transaction, the vice president directly owned 16,900 shares of the company's stock, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.17% of the stock is currently owned by insiders.

Marathon Petroleum Trading Down 0.2%

MPC stock opened at $355.61 on Friday. The company has a market capitalization of $103.82 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25. Marathon Petroleum Corporation has a one year low of $160.87 and a one year high of $360.10. The company's 50 day moving average price is $287.31 and its two-hundred day moving average price is $247.66.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The company had revenue of $51.99 billion during the quarter, compared to analysts' expectations of $40.87 billion. During the same quarter in the prior year, the company earned $3.96 EPS. The firm's revenue was up 53.5% on a year-over-year basis. As a group, analysts predict that Marathon Petroleum Corporation will post 46.66 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum's dividend payout ratio is presently 13.75%.

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.

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