Journey Advisory Group LLC Increases Holdings in Marathon Petroleum Corporation $MPC

Key Points

• Journey Advisory Group boosted its Marathon Petroleum stake by 19% in Q1, ending with 48,920 shares valued at about $11.95 million.
• Marathon Petroleum reported a strong quarter, with EPS of $1.65 versus the $0.74 consensus and revenue of $34.2 billion, up 8.5% year over year.
• The company also paid a $1.00 quarterly dividend and has seen a wave of analyst support, with a consensus rating of Moderate Buy and an average price target of $283.56.

Journey Advisory Group LLC increased its position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 19.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,920 shares of the oil and gas company's stock after acquiring an additional 7,820 shares during the period. Marathon Petroleum makes up about 1.0% of Journey Advisory Group LLC's investment portfolio, making the stock its 27th biggest position. Journey Advisory Group LLC's holdings in Marathon Petroleum were worth $11,945,000 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 the company. State Street Corp grew its holdings in Marathon Petroleum by 0.3% in the fourth quarter. State Street Corp now owns 17,934,327 shares of the oil and gas company's stock valued at $2,916,660,000 after purchasing an additional 47,896 shares during the last quarter. Boston Partners raised its stake in shares of Marathon Petroleum by 2.3% during the 3rd quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company's stock worth $1,214,522,000 after buying an additional 141,691 shares during the last quarter. Norges Bank purchased a new stake in shares of Marathon Petroleum in the 4th quarter worth about $472,312,000. Charles Schwab Investment Management Inc. grew its stake in Marathon Petroleum by 0.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,818,361 shares of the oil and gas company's stock valued at $458,350,000 after acquiring an additional 11,693 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Marathon Petroleum by 2.7% during the 4th quarter. Invesco Ltd. now owns 2,600,191 shares of the oil and gas company's stock valued at $422,869,000 after acquiring an additional 67,600 shares in the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Stock Performance

Shares of MPC opened at $299.39 on Thursday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18. The company has a market capitalization of $87.40 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 0.42 and a beta of 0.52. The company's 50 day simple moving average is $259.70 and its 200 day simple moving average is $225.73. Marathon Petroleum Corporation has a 1 year low of $158.00 and a 1 year high of $304.36.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, topping the consensus estimate of $0.74 by $0.91. The firm had revenue of $34.20 billion during the quarter, compared to analysts' expectations of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. Marathon Petroleum's revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.24) EPS. On average, sell-side analysts predict that Marathon Petroleum Corporation will post 34.58 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.3%. The ex-dividend date was Wednesday, May 20th. Marathon Petroleum's dividend payout ratio is presently 26.11%.

Insider Buying and Selling

In related news, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction dated 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 transaction, the vice president directly owned 16,900 shares in the company, valued at approximately $4,543,058. This represents a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.17% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Mizuho lifted their target price on shares of Marathon Petroleum from $224.00 to $284.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 27th. Piper Sandler raised their price objective on shares of Marathon Petroleum from $197.00 to $228.00 and gave the stock a "neutral" rating in a research note on Thursday, April 9th. Raymond James Financial lifted their price objective on Marathon Petroleum from $300.00 to $335.00 and gave the stock an "outperform" rating in a research report on Monday. Citigroup increased their target price on Marathon Petroleum from $257.00 to $303.00 and gave the company a "neutral" rating in a report on Tuesday. Finally, Morgan Stanley raised their price target on Marathon Petroleum from $233.00 to $265.00 and gave the stock an "overweight" rating in a research report on Friday, June 12th. Ten research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $283.56.

About Marathon Petroleum

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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