6,073 Shares in Marathon Petroleum Corporation $MPC Acquired by 49 Wealth Management LLC

Key Points

• 49 Wealth Management LLC acquired 6,073 Marathon Petroleum shares in the second quarter, valued at approximately $1.55 million. Institutional investors collectively own 76.77% of MPC.
• MPC reported quarterly EPS of $17.73, beating estimates of $14.27, while revenue rose 53.5% year over year to $51.99 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $312.50.
• Marathon Petroleum shares opened at $369.00, near their 12-month high, while insiders sold 26,032 shares worth $8.74 million over the past 90 days. The company also declared a quarterly dividend of $1.00 per share.

49 Wealth Management LLC purchased a new position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,073 shares of the oil and gas company's stock, valued at approximately $1,553,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MPC. Solstein Capital LLC acquired a new stake in shares of Marathon Petroleum during the 2nd quarter worth approximately $26,000. Caitlin John LLC purchased a new position in shares of Marathon Petroleum during the second quarter valued at $26,000. Bell Investment Advisors Inc purchased a new position in Marathon Petroleum during the 2nd quarter valued at about $27,000. Navalign LLC acquired a new position in shares of Marathon Petroleum in the 4th quarter valued at about $30,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Marathon Petroleum in the fourth quarter worth approximately $31,000. 76.77% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Molly R. Benson sold 17,196 shares of the company's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $358.57, for a total transaction of $6,165,969.72. Following the transaction, the insider directly owned 30,334 shares of the company's stock, valued at $10,876,862.38. This represents a 36.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Michael A. Henschen II sold 6,336 shares of the company's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the sale, the vice president directly owned 16,900 shares of the company's stock, valued at $4,543,058. The trade was a 27.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 26,032 shares of company stock valued at $8,744,213 over the last ninety days. Company insiders own 0.17% of the company's stock.

Analyst Ratings Changes

MPC has been the topic of several recent research reports. UBS Group restated a "buy" rating and set a $321.00 target price on shares of Marathon Petroleum in a report on Friday, July 10th. Piper Sandler lifted their price target on shares of Marathon Petroleum from $343.00 to $344.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. TD Cowen lifted their price objective on shares of Marathon Petroleum from $357.00 to $375.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Wells Fargo & Company lifted their price objective on shares of Marathon Petroleum from $344.00 to $359.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. Finally, Mizuho increased their target price on Marathon Petroleum from $284.00 to $304.00 and gave the stock a "neutral" rating in a report on Tuesday, August 11th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $312.50.

Marathon Petroleum Stock Up 1.5%

Shares of NYSE:MPC opened at $369.00 on Friday. Marathon Petroleum Corporation has a 12-month low of $161.93 and a 12-month high of $369.12. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. The business's 50 day moving average is $308.87 and its 200 day moving average is $260.20. The stock has a market cap of $107.73 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 0.24 and a beta of 0.52.

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

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 19th. Marathon Petroleum's dividend payout ratio (DPR) is currently 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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