PFG Advisors Raises Stock Position in Marathon Petroleum Corporation (NYSE:MPC)

PFG Advisors increased its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 27.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,739 shares of the oil and gas company's stock after buying an additional 1,863 shares during the period. PFG Advisors' holdings in Marathon Petroleum were worth $1,273,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Fourth Dimension Wealth LLC bought a new position in Marathon Petroleum during the fourth quarter worth about $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 during the period. Hughes Financial Services LLC bought a new position in Marathon Petroleum during the first quarter worth about $32,000. Decker Retirement Planning Inc. boosted its position in Marathon Petroleum by 1,621.4% during the first quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock worth $35,000 after purchasing an additional 227 shares during the period. Finally, Barnes Dennig Private Wealth Management LLC bought a new position in Marathon Petroleum during the first quarter worth about $35,000. Hedge funds and other institutional investors own 76.77% of the company's stock.

Marathon Petroleum Trading Up 0.2%

Shares of MPC traded up $0.33 during mid-day trading on Friday, reaching $171.64. The company's stock had a trading volume of 1,287,701 shares, compared to its average volume of 2,754,099. The stock has a market cap of $52.73 billion, a PE ratio of 24.14, a P/E/G ratio of 3.31 and a beta of 0.88. The company has a current ratio of 1.19, a quick ratio of 0.73 and a debt-to-equity ratio of 1.16. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $183.31. The company's fifty day moving average price is $167.50 and its two-hundred day moving average price is $152.15.

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 analysts' consensus estimates of ($0.40) by $0.16. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. The firm had revenue of $31.85 billion for the quarter, compared to analysts' expectations of $28.91 billion. During the same period last year, the firm earned $2.58 earnings per share. The company's revenue for the quarter was down 4.1% compared to the same quarter last year. On average, analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

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 was Wednesday, May 21st. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.12%. Marathon Petroleum's dividend payout ratio (DPR) is currently 51.20%.

Insider Activity

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 stock was sold at an average price of $175.00, for a total transaction 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MPC. Mizuho increased their target price 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. Wall Street Zen upgraded shares of Marathon Petroleum from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. TD Cowen raised their price objective on shares of Marathon Petroleum from $152.00 to $163.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. UBS Group raised their price objective on shares of Marathon Petroleum from $175.00 to $203.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. Finally, Piper Sandler raised their price objective on shares of Marathon Petroleum from $175.00 to $182.00 and gave the company a "neutral" rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, Marathon Petroleum presently has a consensus rating of "Hold" and a consensus target price of $183.93.

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.