Jones Financial Companies Lllp Grows Stock Holdings in Marathon Petroleum Corporation $MPC

Key Points

• Jones Financial Companies Lllp increased its stake in Marathon Petroleum Corporation by 21% during the first quarter, owning 293,314 shares valued at approximately $42.35 million.
• Several other investors also expanded their holdings in Marathon Petroleum, with institutional investors now owning 76.77% of the company's stock.
• Wall Street analysts maintain a positive outlook with a consensus rating of "Moderate Buy" and an average price target of $189.36 for Marathon Petroleum shares.

Jones Financial Companies Lllp increased its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 21.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 293,314 shares of the oil and gas company's stock after purchasing an additional 50,972 shares during the quarter. Jones Financial Companies Lllp owned 0.10% of Marathon Petroleum worth $42,353,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Good Steward Wealth Advisors LLC bought a new stake in shares of Marathon Petroleum during the 1st quarter valued at about $346,000. Silver Oak Securities Incorporated purchased a new position in shares of Marathon Petroleum in the first quarter worth approximately $339,000. Financial Partners Group LLC grew its position in 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 period. Oppenheimer Asset Management Inc. increased its holdings in 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 raised its position in Marathon Petroleum by 128.0% in the first quarter. Jump Financial LLC now owns 8,663 shares of the oil and gas company's stock worth $1,262,000 after acquiring an additional 4,863 shares during the period. Institutional investors own 76.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MPC shares. Morgan Stanley boosted their price objective on shares of Marathon Petroleum from $160.00 to $182.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Raymond James Financial boosted their price target on Marathon Petroleum from $195.00 to $199.00 and gave the company an "outperform" rating in a report on Tuesday, September 9th. Wall Street Zen raised Marathon Petroleum from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Wells Fargo & Company lifted their price objective on Marathon Petroleum from $182.00 to $205.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Finally, Evercore ISI initiated coverage on Marathon Petroleum in a research note on Wednesday, June 18th. They set an "in-line" rating and a $170.00 price objective for the company. Eight research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, Marathon Petroleum currently has a consensus rating of "Moderate Buy" and an average price target of $189.36.

Marathon Petroleum Trading Down 1.2%

Marathon Petroleum stock opened at $180.18 on Monday. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $186.28. The firm's 50 day moving average price is $172.81 and its 200-day moving average price is $157.27. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71. The stock has a market cap of $54.78 billion, a P/E ratio of 26.73, a PEG ratio of 3.52 and a beta of 0.97.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued 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 firm had revenue of $34.10 billion during the quarter, compared to analyst estimates of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. Marathon Petroleum's revenue for the quarter 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, equities analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Wednesday, August 20th. Marathon Petroleum's payout ratio is currently 54.01%.

Insider Buying and Selling

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the firm's stock in a transaction that occurred 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 transaction, 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction that occurred on 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 completion of the sale, the director directly owned 18,944 shares in the company, valued at approximately $3,315,200. The trade was a 28.07% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

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.

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