Kwmg LLC Purchases 1,807 Shares of Marathon Petroleum Corporation $MPC

Key Points

• Kwmg LLC increased its holdings in Marathon Petroleum Corporation by 4.6%, now owning a total of 40,772 shares valued at approximately $6.77 million.
• Marathon Petroleum recently reported earnings per share (EPS) of $3.96 for the last quarter, exceeding analysts' estimates by $0.74, despite a 11.1% decline in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.91 per share, representing a 1.9% dividend yield and a payout ratio of 54.01%.

Kwmg LLC lifted its position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 4.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,772 shares of the oil and gas company's stock after purchasing an additional 1,807 shares during the period. Kwmg LLC's holdings in Marathon Petroleum were worth $6,773,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in MPC. CBIZ Investment Advisory Services LLC increased its position in shares of Marathon Petroleum by 1,546.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company's stock worth $31,000 after purchasing an additional 201 shares during the period. Hughes Financial Services LLC bought a new position in shares of Marathon Petroleum in the 1st quarter valued at $32,000. WPG Advisers LLC bought a new stake in Marathon Petroleum during the 1st quarter worth $32,000. Decker Retirement Planning Inc. grew its position in Marathon Petroleum by 1,621.4% during the 1st quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock worth $35,000 after acquiring an additional 227 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in Marathon Petroleum during the 1st quarter worth about $35,000. Institutional investors own 76.77% of the company's stock.

Marathon Petroleum Stock Up 1.0%

Shares of NYSE:MPC opened at $187.29 on Tuesday. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $188.70. The company has a market cap of $56.94 billion, a PE ratio of 27.79, a P/E/G ratio of 3.43 and a beta of 0.97. 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's 50-day moving average is $173.45 and its 200 day moving average is $159.06.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $31.70 billion. During the same quarter in the previous year, the business earned $4.12 EPS. Marathon Petroleum's revenue was down 11.1% compared to the same quarter last year. Sell-side analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Wednesday, August 20th. Marathon Petroleum's payout ratio is currently 54.01%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MPC. Raymond James Financial lifted their target price on Marathon Petroleum from $195.00 to $199.00 and gave the stock an "outperform" rating in a report on Tuesday, September 9th. Wolfe Research downgraded Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Morgan Stanley upped their price target on Marathon Petroleum from $160.00 to $182.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. TD Cowen dropped their price target on Marathon Petroleum from $190.00 to $182.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Finally, Scotiabank reissued an "outperform" rating on shares of Marathon Petroleum in a report on Friday, July 11th. Eight research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $192.50.

Insider Transactions at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the completion of the transaction, the director directly owned 18,944 shares in the company, valued at approximately $3,315,200. This trade represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Molly R. Benson sold 10,879 shares of the business'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 of the company's stock, valued at approximately $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is owned by 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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