SPC Financial Inc. Grows Holdings in Marathon Petroleum Corporation (NYSE:MPC)

Key Points

• SPC Financial Inc. increased its stake in Marathon Petroleum by 11.3%, acquiring an additional 2,734 shares, bringing its total holdings to 27,020 shares valued at approximately $3.94 million.
• Marathon Petroleum reported a net margin of 1.75% and earnings of ($0.24) per share for the last quarter, beating expectations and generating a revenue of $31.85 billion.
• The company recently announced a quarterly dividend of $0.91, resulting in an annualized dividend yield of 2.2%, with a payout ratio of 51.20%.

SPC Financial Inc. boosted its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 11.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,020 shares of the oil and gas company's stock after acquiring an additional 2,734 shares during the period. SPC Financial Inc.'s holdings in Marathon Petroleum were worth $3,937,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fourth Dimension Wealth LLC bought a new stake in Marathon Petroleum during the fourth quarter valued at $26,000. CBIZ Investment Advisory Services LLC lifted its stake in Marathon Petroleum by 1,546.2% in the 1st 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 bought a new stake in shares of Marathon Petroleum during the 1st quarter worth $32,000. Decker Retirement Planning Inc. lifted its stake 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 worth $35,000 after purchasing an additional 227 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Marathon Petroleum in the first quarter worth about $35,000. Institutional investors own 76.77% of the company's stock.

Marathon Petroleum Price Performance

Marathon Petroleum stock traded up $2.77 during midday trading on Monday, reaching $168.30. 2,068,019 shares of the stock traded hands, compared to its average volume of 2,039,764. The stock's fifty day moving average is $168.81 and its 200-day moving average is $153.29. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $183.10. 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 stock has a market cap of $51.70 billion, a P/E ratio of 23.67, a PEG ratio of 2.83 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share 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 business had revenue of $31.85 billion for the quarter, compared to analysts' expectations of $28.91 billion. During the same period last year, the business earned $2.58 EPS. The company's revenue was down 4.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th will be issued a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.2%. 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 that occurred 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 completion of the transaction, the director directly owned 18,944 shares in the company, valued at approximately $3,315,200. This represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.25% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MPC has been the topic of several analyst reports. Citigroup lifted their price target on shares of Marathon Petroleum from $144.00 to $182.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Barclays lifted their price objective on Marathon Petroleum from $159.00 to $189.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Scotiabank reaffirmed an "outperform" rating on shares of Marathon Petroleum in a research note on Friday, July 11th. UBS Group increased their target price on shares of Marathon Petroleum from $175.00 to $203.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Finally, Wall Street Zen raised Marathon Petroleum from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. One 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. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $183.93.

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.