Baer Investment Advisory LLC Invests $1.37 Million in Marathon Petroleum Corporation $MPC

Key Points

• Baer Investment Advisory LLC disclosed a new first-quarter stake in Marathon Petroleum, buying 5,622 shares valued at about $1.37 million.
• Marathon Petroleum reported strong quarterly results, with earnings of $1.65 per share versus $0.74 expected and revenue of $34.2 billion, while also raising its quarterly dividend to $1.00 per share.
• Analyst sentiment remains mixed but constructive: the stock has a Moderate Buy consensus rating, with an average price target of $272.62, even as a few firms recently adjusted their ratings.

Baer Investment Advisory LLC bought a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,622 shares of the oil and gas company's stock, valued at approximately $1,373,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Creative Financial Designs Inc. ADV increased its holdings in Marathon Petroleum by 2.6% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 2,050 shares of the oil and gas company's stock worth $333,000 after purchasing an additional 51 shares during the period. IFG Advisory LLC boosted its stake in shares of Marathon Petroleum by 1.5% in the 4th quarter. IFG Advisory LLC now owns 3,429 shares of the oil and gas company's stock valued at $558,000 after buying an additional 51 shares during the period. Eagle Bluffs Wealth Management LLC boosted its stake in shares of Marathon Petroleum by 1.2% in the 4th quarter. Eagle Bluffs Wealth Management LLC now owns 4,357 shares of the oil and gas company's stock valued at $709,000 after buying an additional 52 shares during the period. Auxano Advisors LLC grew its position in shares of Marathon Petroleum by 2.1% during the fourth quarter. Auxano Advisors LLC now owns 2,630 shares of the oil and gas company's stock worth $428,000 after buying an additional 55 shares in the last quarter. Finally, Onyx Bridge Wealth Group LLC increased its stake in shares of Marathon Petroleum by 4.7% during the fourth quarter. Onyx Bridge Wealth Group LLC now owns 1,253 shares of the oil and gas company's stock worth $204,000 after buying an additional 56 shares during the period. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total value of $1,703,243.52. Following the transaction, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. This trade represents a 27.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.17% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on MPC. The Goldman Sachs Group raised their target price on shares of Marathon Petroleum from $264.00 to $291.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Zacks Research downgraded shares of Marathon Petroleum from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 17th. BMO Capital Markets restated an "outperform" rating on shares of Marathon Petroleum in a report on Friday, June 12th. Piper Sandler lifted their price objective on shares of Marathon Petroleum from $197.00 to $228.00 and gave the stock a "neutral" rating in a research report on Thursday, April 9th. Finally, Weiss Ratings downgraded shares of Marathon Petroleum from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 6th. Ten investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Marathon Petroleum has a consensus rating of "Moderate Buy" and an average target price of $272.62.

Marathon Petroleum Trading Up 0.1%

NYSE MPC opened at $266.50 on Friday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18. The firm has a market cap of $77.80 billion, a PE ratio of 17.40, a P/E/G ratio of 0.39 and a beta of 0.52. Marathon Petroleum Corporation has a one year low of $158.00 and a one year high of $272.46. The firm's fifty day moving average is $252.10 and its two-hundred day moving average is $218.93.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.91. The business had revenue of $34.20 billion during the quarter, compared to the consensus estimate of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The business's quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.24) earnings per share. Analysts expect that Marathon Petroleum Corporation will post 32.96 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Wednesday, May 20th. Marathon Petroleum's dividend payout ratio is 26.11%.

Marathon Petroleum Profile

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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