1,518 Shares in Marathon Petroleum Corporation (NYSE:MPC) Acquired by Fountainhead AM LLC

Fountainhead AM LLC acquired a new position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,518 shares of the oil and gas company's stock, valued at approximately $221,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC acquired a new position in Marathon Petroleum in the 4th quarter worth about $26,000. Hughes Financial Services LLC acquired a new stake in shares of Marathon Petroleum in the 1st quarter valued at $32,000. Decker Retirement Planning Inc. lifted its stake in shares of Marathon Petroleum by 1,621.4% in the 1st quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock valued at $35,000 after purchasing an additional 227 shares during the last quarter. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Marathon Petroleum in the 1st quarter valued at $35,000. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Marathon Petroleum in the 4th quarter valued at $52,000. Institutional investors and hedge funds own 76.77% of the company's stock.

Marathon Petroleum Price Performance

Shares of MPC stock opened at $174.34 on Friday. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $183.31. The firm's 50 day moving average is $166.52 and its 200-day moving average is $151.30. The firm has a market capitalization of $53.56 billion, a price-to-earnings ratio of 24.52, a PEG ratio of 3.27 and a beta of 0.88. The company has a current ratio of 1.19, a quick ratio of 0.73 and a debt-to-equity ratio of 1.16.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.16. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The business had revenue of $31.85 billion for the quarter, compared to analyst estimates of $28.91 billion. During the same period in the prior year, the business posted $2.58 earnings per share. Marathon Petroleum's revenue was down 4.1% compared to the same quarter last year. Sell-side analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were given a dividend of $0.91 per share. The ex-dividend date was Wednesday, May 21st. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.09%. Marathon Petroleum's dividend payout ratio is 51.20%.

Wall Street Analyst Weigh In

MPC has been the topic of several research reports. Morgan Stanley boosted their price objective on shares of Marathon Petroleum from $160.00 to $182.00 and gave the stock an "overweight" rating in a report on Wednesday. Piper Sandler reiterated a "neutral" rating and issued a $175.00 target price (up previously from $157.00) on shares of Marathon Petroleum in a research note on Thursday, July 10th. Citigroup increased their target price on shares of Marathon Petroleum from $144.00 to $182.00 and gave the company a "neutral" rating in a research note on Wednesday. Wall Street Zen upgraded shares of Marathon Petroleum from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, UBS Group increased their target price on shares of Marathon Petroleum from $175.00 to $203.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $183.43.

Insider Buying and Selling at Marathon Petroleum

In related news, Director Kim K.W. Rucker sold 7,392 shares of the firm's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the sale, the director directly owned 18,944 shares in the company, valued at $3,315,200. This trade represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.21% of the stock is currently owned by corporate insiders.

About Marathon Petroleum

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.

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