Farther Finance Advisors LLC Has $1.44 Million Stock Holdings in Marathon Petroleum Corporation $MPC

Key Points

• Farther Finance Advisors LLC increased its stake in Marathon Petroleum Corporation by 85.0%, bringing its holdings to 8,691 shares valued at $1.44 million.
• The company's recent earnings report showed $3.96 EPS and revenue of $34.10 billion, surpassing analysts' expectations.
• Marathon Petroleum recently paid a quarterly dividend of $0.91 per share, translating to an annualized yield of 1.9%.

Farther Finance Advisors LLC boosted its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 85.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,691 shares of the oil and gas company's stock after purchasing an additional 3,993 shares during the period. Farther Finance Advisors LLC's holdings in Marathon Petroleum were worth $1,444,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. CX Institutional lifted its holdings in Marathon Petroleum by 8.6% during the 2nd quarter. CX Institutional now owns 11,892 shares of the oil and gas company's stock worth $1,975,000 after purchasing an additional 946 shares during the last quarter. UMB Bank n.a. lifted its holdings in Marathon Petroleum by 3.8% during the 2nd quarter. UMB Bank n.a. now owns 23,836 shares of the oil and gas company's stock worth $3,959,000 after purchasing an additional 876 shares during the last quarter. Miller Howard Investments Inc. NY lifted its holdings in Marathon Petroleum by 62.3% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 44,676 shares of the oil and gas company's stock worth $7,421,000 after purchasing an additional 17,155 shares during the last quarter. TCV Trust & Wealth Management Inc. lifted its holdings in Marathon Petroleum by 3.7% during the 2nd quarter. TCV Trust & Wealth Management Inc. now owns 3,892 shares of the oil and gas company's stock worth $646,000 after purchasing an additional 140 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group acquired a new stake in Marathon Petroleum during the 2nd quarter worth approximately $1,093,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the company's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total value of $1,293,600.00. Following the sale, the director owned 18,944 shares in the company, valued at approximately $3,315,200. The trade was a 28.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Molly R. Benson sold 10,879 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $163.00, for a total value 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 trade represents a 27.49% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

MPC has been the subject of several research reports. Citigroup lifted their price target on Marathon Petroleum from $144.00 to $182.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Barclays lifted their price target on Marathon Petroleum from $159.00 to $189.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Scotiabank reaffirmed an "outperform" rating on shares of Marathon Petroleum in a report on Friday, July 11th. UBS Group lifted their price objective on Marathon Petroleum from $175.00 to $203.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Finally, Raymond James Financial lifted their price objective on Marathon Petroleum from $195.00 to $199.00 and gave the company an "outperform" rating in a report on Tuesday, September 9th. Eight analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $192.50.

Marathon Petroleum Trading Up 1.8%

Shares of MPC stock opened at $190.70 on Wednesday. The firm has a market capitalization of $57.98 billion, a P/E ratio of 28.29, a P/E/G ratio of 3.46 and a beta of 0.97. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $192.61. 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 stock's fifty day simple moving average is $173.74 and its 200 day simple moving average is $159.28.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $34.10 billion for 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 quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.12 EPS. As a group, sell-side analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were given 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 1.9%. Marathon Petroleum's payout ratio is currently 54.01%.

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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