Caliber Wealth Management LLC KS Invests $3.35 Million in Marathon Petroleum Corporation (NYSE:MPC)

Key Points

• Caliber Wealth Management LLC KS acquired **22,973 shares** of Marathon Petroleum Corporation, valued at approximately **$3.35 million**, during the first quarter.
• Marathon Petroleum reported a quarterly **earnings per share (EPS)** of **($0.24)**, exceeding the consensus estimate of **($0.40)**, with revenues of **$31.85 billion** for the quarter.
• The company declared a quarterly dividend of **$0.91**, resulting in an annualized yield of **2.12%** and a payout ratio of **51.20%**.

Caliber Wealth Management LLC KS purchased a new position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 22,973 shares of the oil and gas company's stock, valued at approximately $3,347,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Fourth Dimension Wealth LLC acquired a new position in Marathon Petroleum in the 4th quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC boosted its stake in Marathon Petroleum by 1,546.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company's stock worth $31,000 after acquiring an additional 201 shares in the last quarter. Hughes Financial Services LLC bought a new position in Marathon Petroleum during the first quarter worth $32,000. Decker Retirement Planning Inc. boosted its stake in Marathon Petroleum by 1,621.4% during the first quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock worth $35,000 after acquiring an additional 227 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC bought a new position in Marathon Petroleum during the first quarter worth $35,000. Institutional investors own 76.77% of the company's stock.

Analyst Upgrades and Downgrades

MPC has been the topic of several research analyst reports. Evercore ISI initiated coverage on shares of Marathon Petroleum in a research note on Wednesday, June 18th. They set an "in-line" rating and a $170.00 target price on the stock. TD Cowen lifted their price objective on shares of Marathon Petroleum from $152.00 to $163.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Scotiabank reiterated an "outperform" rating on shares of Marathon Petroleum in a report on Friday, July 11th. Mizuho lifted their price objective on shares of Marathon Petroleum from $168.00 to $184.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Finally, Barclays lifted their price objective on shares of Marathon Petroleum from $159.00 to $189.00 and gave the company an "overweight" rating in a report on Friday, July 11th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $183.93.

Marathon Petroleum Stock Performance

MPC stock traded down $1.57 during mid-day trading on Tuesday, hitting $173.23. The company had a trading volume of 327,542 shares, compared to its average volume of 2,725,068. The firm has a market cap of $53.22 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 2.93 and a beta of 0.88. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.73 and a current ratio of 1.19. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $183.31. The stock's fifty day moving average price is $167.90 and its two-hundred day moving average price is $152.72.

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) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.16. The business had revenue of $31.85 billion for the quarter, compared to analyst estimates of $28.91 billion. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The company's revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.58 earnings per share. On average, analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st were given a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.10%. The ex-dividend date was Wednesday, May 21st. Marathon Petroleum's dividend payout ratio is 51.20%.

Insider Buying and Selling at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total value of $1,293,600.00. Following the completion of the transaction, the director 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by 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.