Brookstone Capital Management Increases Stock Holdings in Marathon Petroleum Corporation $MPC

Key Points

• Brookstone Capital Management increased its stake in Marathon Petroleum Corporation by 17.8% during the second quarter, raising its holdings to 10,687 shares valued at approximately $1.775 million.
• Various institutional investors showed significant interest in Marathon Petroleum, with Activest Wealth Management increasing its holdings by 290.2% and CBIZ Investment Advisory Services LLC boosting its stake by 1,546.2% in the previous quarter.
• Analysts are optimistic about Marathon Petroleum's performance, with the stock receiving a consensus rating of "Moderate Buy" and an average target price of $200.31 from research firms.

Brookstone Capital Management lifted its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 17.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,687 shares of the oil and gas company's stock after purchasing an additional 1,617 shares during the quarter. Brookstone Capital Management's holdings in Marathon Petroleum were worth $1,775,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Activest Wealth Management boosted its holdings in Marathon Petroleum by 290.2% during the 2nd quarter. Activest Wealth Management now owns 160 shares of the oil and gas company's stock valued at $27,000 after acquiring an additional 119 shares during the period. CBIZ Investment Advisory Services LLC boosted its holdings in Marathon Petroleum by 1,546.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company's stock valued at $31,000 after acquiring an additional 201 shares during the period. Hughes Financial Services LLC purchased a new position in Marathon Petroleum during the 1st quarter valued at $32,000. WPG Advisers LLC purchased a new position in Marathon Petroleum during the 1st quarter valued at $32,000. Finally, Decker Retirement Planning Inc. boosted its holdings in Marathon Petroleum by 1,621.4% during the 1st quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock valued at $35,000 after acquiring an additional 227 shares during the period. Hedge funds and other institutional investors own 76.77% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on MPC. Wolfe Research cut Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. UBS Group lifted their target price on Marathon Petroleum from $203.00 to $220.00 and gave the company a "buy" rating in a research report on Friday, September 26th. Raymond James Financial reaffirmed an "outperform" rating and set a $203.00 target price (up from $199.00) on shares of Marathon Petroleum in a research report on Friday, October 17th. Wells Fargo & Company began coverage on Marathon Petroleum in a research report on Friday, October 17th. They set an "overweight" rating and a $214.00 target price for the company. Finally, Citigroup lifted their target price on Marathon Petroleum from $144.00 to $182.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $200.31.

Marathon Petroleum Trading Up 0.1%

MPC opened at $196.17 on Friday. The firm has a market cap of $59.64 billion, a price-to-earnings ratio of 29.10, a PEG ratio of 4.10 and a beta of 0.90. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $201.61. The stock has a fifty day moving average price of $183.52 and a 200-day moving average price of $166.92.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, topping the consensus estimate of $3.22 by $0.74. The firm had revenue of $34.10 billion during the quarter, compared to analyst estimates of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The business's revenue for the quarter was down 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $4.12 EPS. As a group, equities research analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, August 20th. Marathon Petroleum's payout ratio is presently 54.01%.

Insider Activity at Marathon Petroleum

In other news, insider Molly R. Benson sold 10,879 shares of the business's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $163.00, for a total value of $1,773,277.00. Following the completion of the transaction, the insider directly owned 28,700 shares of the company's stock, valued at approximately $4,678,100. The trade was a 27.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.21% of the company's stock.

Marathon Petroleum Profile

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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