LPL Financial LLC Has $60.04 Million Holdings in Marathon Petroleum Corporation (NYSE:MPC)

Key Points

• LPL Financial LLC increased its holdings in Marathon Petroleum Corporation by 7.3% during the first quarter, owning 412,129 shares valued at approximately $60 million.
• Despite recent insider transactions indicating some selling activity, institutional investors collectively own 76.77% of the company's stock, reflecting strong support from larger investors.
• Marathon Petroleum has announced a quarterly dividend of $0.91 per share, representing an annualized dividend yield of 2.1%, with a payout ratio of 51.20%.

LPL Financial LLC raised its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 7.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 412,129 shares of the oil and gas company's stock after buying an additional 27,937 shares during the quarter. LPL Financial LLC owned 0.13% of Marathon Petroleum worth $60,043,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Beverly Hills Private Wealth LLC raised its position in shares of Marathon Petroleum by 1.2% during the fourth quarter. Beverly Hills Private Wealth LLC now owns 6,655 shares of the oil and gas company's stock worth $928,000 after purchasing an additional 76 shares during the period. Valmark Advisers Inc. increased its stake in Marathon Petroleum by 2.3% during the 1st quarter. Valmark Advisers Inc. now owns 3,801 shares of the oil and gas company's stock worth $554,000 after purchasing an additional 86 shares in the last quarter. Southland Equity Partners LLC raised its holdings in Marathon Petroleum by 6.2% during the 1st quarter. Southland Equity Partners LLC now owns 1,549 shares of the oil and gas company's stock worth $226,000 after buying an additional 90 shares during the period. Prudent Man Advisors LLC raised its holdings in Marathon Petroleum by 2.3% during the 1st quarter. Prudent Man Advisors LLC now owns 4,056 shares of the oil and gas company's stock worth $591,000 after buying an additional 91 shares during the period. Finally, Benjamin Edwards Inc. lifted its stake in Marathon Petroleum by 1.9% in the fourth quarter. Benjamin Edwards Inc. now owns 5,021 shares of the oil and gas company's stock valued at $700,000 after buying an additional 94 shares in the last quarter. Institutional investors own 76.77% of the company's stock.

Insider Activity at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 7,392 shares of the firm's stock in a transaction dated 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 sale, the director owned 18,944 shares in the company, valued at approximately $3,315,200. This trade represents a 28.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.21% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MPC shares. Evercore ISI initiated coverage on shares of Marathon Petroleum in a research report on Wednesday, June 18th. They set an "in-line" rating and a $170.00 price objective for the company. Citigroup lifted their price target on Marathon Petroleum from $144.00 to $182.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Dbs Bank raised Marathon Petroleum to a "moderate buy" rating in a research report on Monday. Raymond James Financial reiterated an "outperform" rating and set a $200.00 price objective (up from $180.00) on shares of Marathon Petroleum in a report on Tuesday, July 15th. Finally, Wolfe Research cut Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Marathon Petroleum currently has a consensus rating of "Hold" and a consensus price target of $183.93.

Marathon Petroleum Trading Down 0.4%

Shares of NYSE:MPC opened at $170.04 on Friday. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week 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 $52.24 billion, a P/E ratio of 23.92, a price-to-earnings-growth ratio of 2.92 and a beta of 0.88. The company has a 50-day simple moving average of $168.69 and a 200 day simple moving average of $153.16.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.40) by $0.16. The company had revenue of $31.85 billion during the quarter, compared to analysts' expectations of $28.91 billion. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. The business's revenue was down 4.1% on a year-over-year basis. During the same period last year, the firm posted $2.58 earnings per share. Sell-side analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Wednesday, August 20th. Marathon Petroleum's payout ratio is currently 51.20%.

Marathon Petroleum 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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