Spire Wealth Management Has $1.43 Million Position in Marathon Petroleum Corporation (NYSE:MPC)

Spire Wealth Management lifted its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 300.9% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 9,842 shares of the oil and gas company's stock after purchasing an additional 7,387 shares during the period. Spire Wealth Management's holdings in Marathon Petroleum were worth $1,434,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. SWS Partners grew its holdings in shares of Marathon Petroleum by 19.0% during the fourth quarter. SWS Partners now owns 17,577 shares of the oil and gas company's stock worth $2,452,000 after purchasing an additional 2,806 shares during the last quarter. Greatmark Investment Partners Inc. grew its holdings in shares of Marathon Petroleum by 3.5% during the fourth quarter. Greatmark Investment Partners Inc. now owns 161,171 shares of the oil and gas company's stock worth $22,483,000 after purchasing an additional 5,476 shares during the last quarter. TCTC Holdings LLC grew its holdings in shares of Marathon Petroleum by 3.3% during the fourth quarter. TCTC Holdings LLC now owns 91,256 shares of the oil and gas company's stock worth $12,730,000 after purchasing an additional 2,892 shares during the last quarter. Cambridge Financial Group Inc. bought a new stake in shares of Marathon Petroleum during the fourth quarter worth $5,624,000. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Marathon Petroleum during the fourth quarter worth $1,192,000. Institutional investors own 76.77% of the company's stock.

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $167.56 on Friday. The firm has a market capitalization of $51.48 billion, a P/E ratio of 23.57, a PEG ratio of 3.27 and a beta of 0.89. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $183.31. The business has a 50-day moving average of $155.11 and a 200-day moving average of $147.28. 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 (NYSE:MPC - Get Free Report) last posted its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.16. The company had revenue of $31.85 billion during the quarter, compared to analyst estimates of $28.91 billion. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. The company's revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.58 EPS. On average, equities analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Wednesday, May 21st. Marathon Petroleum's dividend payout ratio (DPR) is presently 51.20%.

Analysts Set New Price Targets

Several brokerages have recently commented on MPC. Wall Street Zen upgraded Marathon Petroleum from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Piper Sandler decreased their price target on Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. Scotiabank decreased their price target on Marathon Petroleum from $169.00 to $147.00 and set a "sector outperform" rating on the stock in a report on Friday, April 11th. Evercore ISI assumed coverage on Marathon Petroleum in a report on Wednesday, June 18th. They issued an "in-line" rating and a $170.00 price target on the stock. Finally, TD Cowen raised their price target on Marathon Petroleum from $152.00 to $163.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Marathon Petroleum has an average rating of "Moderate Buy" and an average target price of $175.80.

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.

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