Concord Asset Management LLC VA Makes New Investment in Marathon Petroleum Corporation $MPC

Concord Asset Management LLC VA acquired a new position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,482 shares of the oil and gas company's stock, valued at approximately $412,000.

Other large investors also recently added to or reduced their stakes in the company. Good Steward Wealth Advisors LLC bought a new stake in Marathon Petroleum during the first quarter worth approximately $346,000. Silver Oak Securities Incorporated bought a new position in shares of Marathon Petroleum during the first quarter valued at approximately $339,000. Financial Partners Group LLC grew its stake in shares of Marathon Petroleum by 65.8% during the first quarter. Financial Partners Group LLC now owns 3,937 shares of the oil and gas company's stock valued at $574,000 after buying an additional 1,563 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Marathon Petroleum by 8.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 44,387 shares of the oil and gas company's stock valued at $6,467,000 after buying an additional 3,291 shares during the last quarter. Finally, Jump Financial LLC grew its stake in shares of Marathon Petroleum by 128.0% during the first quarter. Jump Financial LLC now owns 8,663 shares of the oil and gas company's stock valued at $1,262,000 after buying an additional 4,863 shares during the last quarter. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Stock Up 1.4%

Marathon Petroleum stock opened at $183.36 on Tuesday. The business has a fifty day moving average of $179.03 and a two-hundred day moving average of $163.99. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. The firm has a market cap of $55.75 billion, a P/E ratio of 27.20, a P/E/G ratio of 3.04 and a beta of 0.90. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $201.61.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, topping analysts' consensus estimates of $3.22 by $0.74. The company 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%.Marathon Petroleum's revenue was down 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.12 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 announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were issued a dividend of $0.91 per share. The ex-dividend date was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a yield of 2.0%. Marathon Petroleum's dividend payout ratio is currently 54.01%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MPC. Mizuho upped their target price on Marathon Petroleum from $184.00 to $188.00 and gave the company a "neutral" rating in a research note on Monday, September 15th. Dbs Bank raised Marathon Petroleum to a "moderate buy" rating in a research note on Monday, July 28th. Scotiabank reaffirmed an "outperform" rating on shares of Marathon Petroleum in a research note on Thursday. Weiss Ratings reissued a "hold (c)" rating on shares of Marathon Petroleum in a research note on Wednesday, October 8th. Finally, Wolfe Research cut Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Eight equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Marathon Petroleum presently has a consensus rating of "Moderate Buy" and a consensus price target of $199.31.

Insiders Place Their Bets

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the company's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the sale, the insider owned 28,700 shares in the company, valued at $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% 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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