Greatmark Investment Partners Inc. Grows Stock Position in Marathon Petroleum Corporation $MPC

Key Points

• Greatmark Investment Partners Inc. increased its position in Marathon Petroleum Corporation (MPC) by 2.9%, acquiring an additional 4,820 shares, and now holds 168,603 shares valued at approximately $28 million.
• Analysts have varied opinions on MPC, with UBS Group raising its price target to $220 and giving a "buy" rating, while Wolfe Research downgraded the stock from "outperform" to "peer perform."
• Marathon Petroleum recently declared a quarterly dividend of $0.91 per share, resulting in an annualized dividend yield of 2.0%, with a payout ratio of 54.01%.

Greatmark Investment Partners Inc. increased its position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 2.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 168,603 shares of the oil and gas company's stock after acquiring an additional 4,820 shares during the period. Marathon Petroleum comprises about 3.5% of Greatmark Investment Partners Inc.'s investment portfolio, making the stock its 8th biggest holding. Greatmark Investment Partners Inc. owned 0.05% of Marathon Petroleum worth $28,007,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MPC. Activest Wealth Management boosted its holdings in shares of Marathon Petroleum by 290.2% in the second quarter. Activest Wealth Management now owns 160 shares of the oil and gas company's stock worth $27,000 after buying an additional 119 shares during the last quarter. CBIZ Investment Advisory Services LLC boosted its stake in shares of Marathon Petroleum by 1,546.2% during the 1st 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 during the last quarter. Hughes Financial Services LLC purchased a new stake in shares of Marathon Petroleum in the 1st quarter worth $32,000. WPG Advisers LLC purchased a new position in Marathon Petroleum during the first quarter valued at $32,000. Finally, Decker Retirement Planning Inc. grew its holdings 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 valued at $35,000 after purchasing an additional 227 shares during the period. Institutional investors own 76.77% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on MPC shares. UBS Group lifted their price objective on Marathon Petroleum from $203.00 to $220.00 and gave the company a "buy" rating in a research report on Friday, September 26th. Weiss Ratings reissued a "hold (c)" rating on shares of Marathon Petroleum in a research note on Wednesday, October 8th. Piper Sandler increased their price target on Marathon Petroleum from $184.00 to $222.00 and gave the stock a "neutral" rating in a research note on Thursday, September 11th. Wolfe Research downgraded Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 14th. Finally, Mizuho increased their target price on Marathon Petroleum from $184.00 to $188.00 and gave the stock a "neutral" rating in a research report on Monday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $200.31.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction on Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the transaction, the insider directly owned 28,700 shares of the company's stock, valued at $4,678,100. The trade was 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 through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $182.90 on Wednesday. The company has a market cap of $55.60 billion, a price-to-earnings ratio of 27.14, a PEG ratio of 2.90 and a beta of 0.90. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $201.61. The stock's 50 day simple moving average is $181.64 and its two-hundred day simple moving average is $165.71. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, topping the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The company had revenue of $34.10 billion during the quarter, compared to analyst estimates of $31.70 billion. During the same quarter last year, the business posted $4.12 earnings per share. The firm's revenue was down 11.1% on a year-over-year basis. As a group, equities analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.0%. The ex-dividend date was Wednesday, August 20th. Marathon Petroleum's dividend payout ratio is presently 54.01%.

Marathon Petroleum Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.