Marathon Petroleum Corporation (NYSE:MPC) Shares Bought by HB Wealth Management LLC

HB Wealth Management LLC raised its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 13.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,905 shares of the oil and gas company's stock after buying an additional 2,998 shares during the period. HB Wealth Management LLC's holdings in Marathon Petroleum were worth $3,774,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of MPC. Fourth Dimension Wealth LLC acquired a new stake in shares of Marathon Petroleum in the 4th quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC boosted its position in Marathon Petroleum by 1,546.2% during 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 in the last quarter. Hughes Financial Services LLC purchased a new stake in Marathon Petroleum during the first quarter worth $32,000. Decker Retirement Planning Inc. grew its holdings in Marathon Petroleum by 1,621.4% in the first quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock valued at $35,000 after purchasing an additional 227 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC acquired a new stake in Marathon Petroleum in the first quarter valued at $35,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MPC shares. Scotiabank reaffirmed an "outperform" rating on shares of Marathon Petroleum in a research note on Friday, July 11th. Wells Fargo & Company lifted their target price 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. Raymond James Financial reaffirmed an "outperform" rating and issued a $200.00 price target (up previously from $180.00) on shares of Marathon Petroleum in a report on Tuesday, July 15th. TD Cowen increased their target price on Marathon Petroleum from $152.00 to $163.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Finally, Morgan Stanley boosted their target price on shares of Marathon Petroleum from $160.00 to $182.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $183.93.

Marathon Petroleum Trading Up 0.2%

NYSE MPC opened at $171.64 on Monday. The company has a market cap of $52.73 billion, a P/E ratio of 24.14, a P/E/G ratio of 2.93 and a beta of 0.88. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $183.31. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.19 and a quick ratio of 0.73. The company has a 50-day moving average of $167.65 and a 200-day moving average of $152.49.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its earnings results 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. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The firm had revenue of $31.85 billion during the quarter, compared to the consensus estimate of $28.91 billion. During the same period in the previous year, the firm earned $2.58 earnings per share. Marathon Petroleum's revenue was down 4.1% compared to the same quarter last year. As a group, equities analysts predict 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 was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $3.64 annualized dividend and a dividend yield of 2.12%. Marathon Petroleum's dividend payout ratio is presently 51.20%.

Insider Activity at Marathon Petroleum

In related news, 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 value of $1,293,600.00. Following the transaction, the director directly owned 18,944 shares of the company's stock, valued at approximately $3,315,200. This trade represents a 28.07% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.25% of the stock is currently 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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