MGO One Seven LLC Has $1.53 Million Stock Position in Marathon Petroleum Corporation $MPC

Key Points

• MGO One Seven LLC increased its stake in Marathon Petroleum Corporation by 18.3% during the 2nd quarter, holding shares valued at $1.53 million.
• Marathon Petroleum's stock has received various rating upgrades from analysts, with target prices ranging from $182.00 to $222.00, reflecting a consensus rating of "Moderate Buy."
• The company recently declared a quarterly dividend of $0.91 per share, resulting in an annualized dividend yield of 2.0%.

MGO One Seven LLC grew its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 18.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,235 shares of the oil and gas company's stock after purchasing an additional 1,427 shares during the quarter. MGO One Seven LLC's holdings in Marathon Petroleum were worth $1,534,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MPC. Brighton Jones LLC boosted its stake in shares of Marathon Petroleum by 30.9% during the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company's stock worth $696,000 after acquiring an additional 1,178 shares during the period. GAMMA Investing LLC boosted its stake in Marathon Petroleum by 3.4% in the 1st quarter. GAMMA Investing LLC now owns 10,577 shares of the oil and gas company's stock valued at $1,541,000 after purchasing an additional 351 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Marathon Petroleum by 2.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 110,599 shares of the oil and gas company's stock valued at $16,113,000 after purchasing an additional 2,539 shares during the period. Sowell Financial Services LLC bought a new stake in Marathon Petroleum in the 1st quarter valued at $1,521,000. Finally, Grove Bank & Trust boosted its stake in Marathon Petroleum by 11.7% in the 1st quarter. Grove Bank & Trust now owns 3,006 shares of the oil and gas company's stock valued at $438,000 after purchasing an additional 315 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MPC. Bank of America boosted their price target on Marathon Petroleum from $184.00 to $192.00 and gave the company a "neutral" rating in a research note on Wednesday, September 3rd. Scotiabank reiterated an "outperform" rating on shares of Marathon Petroleum in a research report on Thursday, October 9th. Raymond James Financial upped their target price on Marathon Petroleum from $195.00 to $199.00 and gave the company an "outperform" rating in a research report on Tuesday, September 9th. Piper Sandler boosted their price target on Marathon Petroleum from $184.00 to $222.00 and gave the stock a "neutral" rating in a report on Thursday, September 11th. Finally, Citigroup boosted their price target on Marathon Petroleum from $144.00 to $182.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Eight analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $199.31.

Marathon Petroleum Trading Up 0.5%

Shares of MPC stock opened at $184.09 on Thursday. The stock has a market cap of $55.97 billion, a price-to-earnings ratio of 27.31, a PEG ratio of 2.96 and a beta of 0.90. The stock has a 50-day moving average of $179.75 and a 200-day moving average of $164.26. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $201.61.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $31.70 billion. During the same quarter in the prior year, the firm posted $4.12 earnings per share. The business's quarterly revenue was down 11.1% on a year-over-year basis. On average, equities research analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were given a dividend of $0.91 per share. The ex-dividend date was Wednesday, August 20th. This represents a $3.64 annualized dividend and a dividend yield of 2.0%. Marathon Petroleum's dividend payout ratio is presently 54.01%.

Insider Activity at Marathon Petroleum

In related news, insider Molly R. Benson sold 10,879 shares of the company's stock in a transaction dated 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 sale, the insider owned 28,700 shares in the company, valued at $4,678,100. This represents a 27.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.21% of the stock is currently owned by insiders.

About Marathon Petroleum

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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