Corient Private Wealth LLC Purchases 4,703 Shares of Marathon Petroleum Corporation $MPC

Key Points

• Corient Private Wealth LLC increased its stake in Marathon Petroleum by 3.4% in the fourth quarter, adding 4,703 shares to bring its total holdings to 143,963 shares valued at about $23.45 million.
• Marathon Petroleum reported better-than-expected quarterly results, with EPS of $1.65 versus the $0.74 estimate and revenue of $34.2 billion, up 8.5% year over year.
• The company recently paid a quarterly dividend of $1.00 per share, equal to a $4.00 annualized payout and a 1.6% yield, while analysts currently rate the stock a “Moderate Buy” with an average target price of $272.94.

Corient Private Wealth LLC grew its position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 3.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 143,963 shares of the oil and gas company's stock after buying an additional 4,703 shares during the period. Corient Private Wealth LLC's holdings in Marathon Petroleum were worth $23,446,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Navalign LLC purchased a new position in Marathon Petroleum in the 4th quarter worth approximately $30,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Marathon Petroleum during the 4th quarter valued at $31,000. KERR FINANCIAL PLANNING Corp purchased a new stake in Marathon Petroleum during the 3rd quarter valued at $39,000. IAG Wealth Partners LLC bought a new stake in shares of Marathon Petroleum in the 3rd quarter worth $39,000. Finally, Berbice Capital Management LLC increased its holdings in shares of Marathon Petroleum by 100.0% in the 4th quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company's stock worth $33,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company's stock.

Marathon Petroleum Stock Performance

Shares of MPC opened at $247.13 on Tuesday. The business has a 50-day simple moving average of $245.65 and a two-hundred day simple moving average of $214.83. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a 52 week low of $158.00 and a 52 week high of $272.46. The stock has a market cap of $72.15 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 0.37 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.91. The firm had revenue of $34.20 billion for the quarter, compared to analysts' expectations of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The business's quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.24) EPS. On average, analysts expect that Marathon Petroleum Corporation will post 31.35 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were issued a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $4.00 annualized dividend and a yield of 1.6%. Marathon Petroleum's dividend payout ratio is currently 26.11%.

Insiders Place Their Bets

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the completion of the sale, the vice president owned 16,900 shares in the company, valued at approximately $4,543,058. This represents a 27.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.17% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on MPC. The Goldman Sachs Group lifted their price objective on Marathon Petroleum from $264.00 to $291.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Scotiabank upped their target price on shares of Marathon Petroleum from $174.00 to $210.00 and gave the company a "sector outperform" rating in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. raised their price target on shares of Marathon Petroleum from $235.00 to $257.00 in a report on Wednesday, May 6th. Citigroup lifted their price target on shares of Marathon Petroleum from $243.00 to $257.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. Finally, UBS Group set a $285.00 price objective on shares of Marathon Petroleum in a report on Wednesday, May 6th. Ten equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $272.94.

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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