Joseph Group Capital Management Boosts Position in Marathon Petroleum Corporation (NYSE:MPC)

Joseph Group Capital Management lifted its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 11.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,837 shares of the oil and gas company's stock after acquiring an additional 2,259 shares during the period. Joseph Group Capital Management's holdings in Marathon Petroleum were worth $3,181,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Greatmark Investment Partners Inc. raised its holdings in shares of Marathon Petroleum by 3.5% during the 4th quarter. Greatmark Investment Partners Inc. now owns 161,171 shares of the oil and gas company's stock worth $22,483,000 after acquiring an additional 5,476 shares during the period. TCTC Holdings LLC raised its holdings in shares of Marathon Petroleum by 3.3% during the 4th quarter. TCTC Holdings LLC now owns 91,256 shares of the oil and gas company's stock worth $12,730,000 after acquiring an additional 2,892 shares during the period. Cambridge Financial Group Inc. purchased a new position in shares of Marathon Petroleum during the 4th quarter worth $5,624,000. Good Steward Wealth Advisors LLC purchased a new position in shares of Marathon Petroleum during the 1st quarter worth $346,000. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Marathon Petroleum during the 4th quarter worth $1,192,000. Hedge funds and other institutional investors own 76.77% of the company's stock.

Marathon Petroleum Trading Up 1.7%

Shares of Marathon Petroleum stock opened at $182.29 on Friday. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $183.31. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.73 and a current ratio of 1.19. The company has a market capitalization of $56.00 billion, a P/E ratio of 25.64, a PEG ratio of 3.52 and a beta of 0.88. The company's fifty day moving average is $162.98 and its two-hundred day moving average is $149.59.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.16. The business had revenue of $31.85 billion for the quarter, compared to the consensus estimate of $28.91 billion. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The business's quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.58 earnings per share. Analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Wednesday, May 21st. Marathon Petroleum's payout ratio is 51.20%.

Insider Buying and Selling at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction dated Thursday, July 3rd. The shares were 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 of the company's stock, valued at $3,315,200. The trade was a 28.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.21% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wells Fargo & Company raised their price objective on Marathon Petroleum from $182.00 to $205.00 and gave the stock an "overweight" rating in a research report on Thursday. Piper Sandler raised their price objective on Marathon Petroleum from $157.00 to $175.00 and gave the stock a "neutral" rating in a research report on Thursday. Barclays raised their price objective on Marathon Petroleum from $141.00 to $159.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. Wall Street Zen raised Marathon Petroleum from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, UBS Group raised their price objective on Marathon Petroleum from $175.00 to $203.00 and gave the stock a "buy" rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Marathon Petroleum currently has a consensus rating of "Moderate Buy" and an average target price of $180.44.

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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