Leonard Rickey Investment Advisors P.L.L.C. Makes New Investment in Marathon Petroleum Corporation $MPC

Key Points

• Leonard Rickey Investment Advisors P.L.L.C. has made a new investment in Marathon Petroleum Corporation, acquiring 1,525 shares valued at approximately $253,000.
• Recent analyst upgrades for Marathon Petroleum include Wells Fargo raising their price target from $182.00 to $205.00, contributing to a consensus rating of "Moderate Buy."
• The company has declared a quarterly dividend of $0.91, resulting in an annualized dividend yield of 1.9% and a payout ratio of 54.01%.

Leonard Rickey Investment Advisors P.L.L.C. bought a new position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,525 shares of the oil and gas company's stock, valued at approximately $253,000.

A number of other institutional investors have also modified their holdings of the company. Baker Tilly Wealth Management LLC raised its position in shares of Marathon Petroleum by 2.8% in the second quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company's stock valued at $370,000 after buying an additional 60 shares during the last quarter. Sunpointe LLC raised its position in shares of Marathon Petroleum by 4.1% in the second quarter. Sunpointe LLC now owns 1,750 shares of the oil and gas company's stock valued at $291,000 after buying an additional 69 shares during the last quarter. Beverly Hills Private Wealth LLC raised its position in shares of Marathon Petroleum by 1.3% in the first quarter. Beverly Hills Private Wealth LLC now owns 6,739 shares of the oil and gas company's stock valued at $982,000 after buying an additional 84 shares during the last quarter. Valmark Advisers Inc. raised its position in shares of Marathon Petroleum by 2.3% in the first quarter. Valmark Advisers Inc. now owns 3,801 shares of the oil and gas company's stock valued at $554,000 after buying an additional 86 shares during the last quarter. Finally, Southland Equity Partners LLC raised its position in shares of Marathon Petroleum by 6.2% in the first quarter. Southland Equity Partners LLC now owns 1,549 shares of the oil and gas company's stock valued at $226,000 after buying an additional 90 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MPC shares. Wells Fargo & Company boosted their price objective on shares of Marathon Petroleum from $182.00 to $205.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Raymond James Financial boosted their target price on shares of Marathon Petroleum from $195.00 to $199.00 and gave the company an "outperform" rating in a report on Tuesday, September 9th. Dbs Bank upgraded shares of Marathon Petroleum to a "moderate buy" rating in a report on Monday, July 28th. Mizuho boosted their target price on shares of Marathon Petroleum from $184.00 to $188.00 and gave the company a "neutral" rating in a report on Monday, September 15th. Finally, TD Cowen lowered their target price on shares of Marathon Petroleum from $190.00 to $182.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Eight analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $192.50.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the 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 sale, the insider directly owned 28,700 shares of the company's stock, valued at approximately $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kim K.W. Rucker sold 7,392 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the sale, the director directly owned 18,944 shares in the company, valued at $3,315,200. This trade represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company's stock.

Marathon Petroleum Trading Up 1.0%

NYSE MPC opened at $187.29 on Tuesday. The company's fifty day simple moving average is $173.45 and its 200-day simple moving average is $159.06. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $188.70. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. The stock has a market cap of $56.94 billion, a P/E ratio of 27.79, a PEG ratio of 3.43 and a beta of 0.97.

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

Marathon Petroleum Announces Dividend

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 $0.91 dividend. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.64 annualized dividend and a yield of 1.9%. Marathon Petroleum's dividend payout ratio is currently 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.

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