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Marathon Petroleum Corporation (NYSE:MPC) Shares Acquired by Sheaff Brock Investment Advisors LLC

Marathon Petroleum logo with Energy background

Key Points

  • Sheaff Brock Investment Advisors LLC increased its holdings in Marathon Petroleum Corporation (MPC) by 36.4%, owning 8,078 shares valued at approximately $1.18 million following an additional purchase of 2,157 shares.
  • Marathon Petroleum reported a quarterly earnings per share (EPS) of ($0.24), beating estimates, with revenues of $31.85 billion despite a 4.1% decline compared to the previous year.
  • The company's recent dividend payout was $0.91 per share, resulting in an annualized dividend of $3.64 and a dividend yield of 2.08%.
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Sheaff Brock Investment Advisors LLC boosted its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 36.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,078 shares of the oil and gas company's stock after purchasing an additional 2,157 shares during the period. Sheaff Brock Investment Advisors LLC's holdings in Marathon Petroleum were worth $1,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Shoker Investment Counsel Inc. lifted its position in Marathon Petroleum by 1.6% during the first quarter. Shoker Investment Counsel Inc. now owns 32,316 shares of the oil and gas company's stock valued at $4,708,000 after purchasing an additional 494 shares during the period. Corton Capital Inc. acquired a new position in Marathon Petroleum during the first quarter valued at $250,000. Richards Merrill & Peterson Inc. lifted its position in Marathon Petroleum by 33.3% during the first quarter. Richards Merrill & Peterson Inc. now owns 400 shares of the oil and gas company's stock valued at $58,000 after purchasing an additional 100 shares during the period. Bryce Point Capital LLC raised its position in shares of Marathon Petroleum by 30.5% in the first quarter. Bryce Point Capital LLC now owns 5,466 shares of the oil and gas company's stock worth $793,000 after acquiring an additional 1,278 shares during the period. Finally, LPL Financial LLC raised its position in shares of Marathon Petroleum by 7.3% in the first quarter. LPL Financial LLC now owns 412,129 shares of the oil and gas company's stock worth $60,043,000 after acquiring an additional 27,937 shares during the period. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Stock Up 1.8%

MPC stock opened at $174.64 on Tuesday. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $183.31. The stock has a market capitalization of $53.65 billion, a P/E ratio of 24.56, a P/E/G ratio of 2.93 and a beta of 0.88. The company has a quick ratio of 0.73, a current ratio of 1.19 and a debt-to-equity ratio of 1.16. The firm has a 50-day simple moving average of $167.90 and a 200-day simple moving average of $152.72.

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

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were paid a $0.91 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $3.64 annualized dividend and a dividend yield of 2.08%. Marathon Petroleum's dividend payout ratio (DPR) is 51.20%.

Insider Buying and Selling at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 7,392 shares of the stock in a transaction that occurred on 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 completion of the sale, the director owned 18,944 shares of the company's stock, valued at $3,315,200. This represents a 28.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Scotiabank reiterated an "outperform" rating on shares of Marathon Petroleum in a research report on Friday, July 11th. Barclays upped their price objective on shares of Marathon Petroleum from $159.00 to $189.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Morgan Stanley upped their price objective on shares of Marathon Petroleum from $160.00 to $182.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Mizuho upped their price objective on shares of Marathon Petroleum from $168.00 to $184.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company upped their price objective on shares of Marathon Petroleum from $182.00 to $205.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $183.93.

Read Our Latest Report on MPC

About Marathon Petroleum

(Free Report)

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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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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