EverSource Wealth Advisors LLC Acquires 5,022 Shares of Marathon Petroleum Corporation $MPC

Key Points

• EverSource Wealth Advisors increased its Marathon Petroleum stake by 55.1% in the first quarter, purchasing 5,022 additional shares for a total holding of 14,135 shares valued at approximately $3.45 million. Institutional investors and hedge funds collectively own 76.77% of MPC.
• Analysts maintain a positive outlook, with 11 Buy ratings and seven Holds, producing a consensus rating of “Moderate Buy” and an average price target of $298.69. TD Cowen recently raised its target to $357, while Jefferies set a $335 target.
• Marathon Petroleum reported first-quarter earnings of $1.65 per share, substantially exceeding the $0.74 consensus estimate, while revenue rose 8.5% year over year to $34.20 billion. The company also declared a quarterly dividend of $1.00 per share, equivalent to a 1.3% annualized yield.

EverSource Wealth Advisors LLC boosted its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 55.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,135 shares of the oil and gas company's stock after purchasing an additional 5,022 shares during the period. EverSource Wealth Advisors LLC's holdings in Marathon Petroleum were worth $3,451,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MPC. Norges Bank acquired a new stake in shares of Marathon Petroleum in the fourth quarter valued at about $472,312,000. Capital Wealth Planning LLC increased its position in Marathon Petroleum by 49,392.0% during the 4th quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company's stock valued at $245,157,000 after purchasing an additional 1,495,097 shares during the period. Pacer Advisors Inc. raised its holdings in Marathon Petroleum by 3,816.8% during the 4th quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company's stock worth $212,517,000 after purchasing an additional 1,273,386 shares during the last quarter. GHE LLC raised its holdings in Marathon Petroleum by 1,939.8% during the 1st quarter. GHE LLC now owns 649,542 shares of the oil and gas company's stock worth $158,605,000 after purchasing an additional 617,699 shares during the last quarter. Finally, Man Group plc lifted its position in shares of Marathon Petroleum by 2,175.0% in the 4th quarter. Man Group plc now owns 568,790 shares of the oil and gas company's stock worth $92,502,000 after purchasing an additional 543,788 shares during the period. 76.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. TD Cowen lifted their target price on shares of Marathon Petroleum from $315.00 to $357.00 and gave the stock a "buy" rating in a research note on Tuesday, July 21st. JPMorgan Chase & Co. increased their price target on Marathon Petroleum from $235.00 to $257.00 in a report on Wednesday, May 6th. Jefferies Financial Group set a $335.00 price objective on Marathon Petroleum and gave the stock a "buy" rating in a research report on Sunday, July 12th. BMO Capital Markets reissued an "outperform" rating on shares of Marathon Petroleum in a research note on Friday, June 12th. Finally, Scotiabank raised their target price on Marathon Petroleum from $174.00 to $210.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, April 22nd. Eleven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Marathon Petroleum has an average rating of "Moderate Buy" and a consensus price target of $298.69.

Marathon Petroleum Stock Up 1.0%

Shares of NYSE MPC opened at $309.09 on Thursday. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31. The firm has a market cap of $90.24 billion, a PE ratio of 20.18, a P/E/G ratio of 0.19 and a beta of 0.52. The company's fifty day simple moving average is $271.59 and its 200 day simple moving average is $235.89. Marathon Petroleum Corporation has a 12-month low of $158.00 and a 12-month high of $326.92.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The firm had revenue of $34.20 billion during the quarter, compared to the consensus estimate of $33.42 billion. During the same period in the previous year, the firm posted ($0.24) earnings per share. The business's revenue was up 8.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Marathon Petroleum Corporation will post 43.19 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, August 19th. Marathon Petroleum's dividend payout ratio (DPR) is 26.11%.

Insider Activity at Marathon Petroleum

In other news, VP Michael A. Henschen II sold 6,336 shares of the business's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the sale, the vice president owned 16,900 shares in the company, valued at $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

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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