Spire Wealth Management Has $1.56 Million Holdings in Marathon Petroleum Corporation $MPC

Key Points

• Spire Wealth Management increased its stake in Marathon Petroleum by 320.1% in Q4 and now owns 9,613 shares valued at $1.563 million.
• Marathon Petroleum reported Q4 EPS of $4.07 (beat the $3.73 estimate) and revenue of $32.57 billion (beat the $30.89 billion estimate); the company has a market cap of $72.23 billion and a P/E of 18.37.
• The company pays a $1.00 quarterly dividend (annualized $4.00, yield ~1.6%) and institutional investors own about 76.77% of the stock, with large funds like Balyasny and Panagora significantly increasing positions.

Spire Wealth Management grew its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 320.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,613 shares of the oil and gas company's stock after buying an additional 7,325 shares during the period. Spire Wealth Management's holdings in Marathon Petroleum were worth $1,563,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Balyasny Asset Management L.P. boosted its stake in Marathon Petroleum by 27,979.8% during the second quarter. Balyasny Asset Management L.P. now owns 659,595 shares of the oil and gas company's stock worth $109,565,000 after acquiring an additional 657,246 shares in the last quarter. Panagora Asset Management Inc. increased its stake in Marathon Petroleum by 217.8% in the second quarter. Panagora Asset Management Inc. now owns 883,763 shares of the oil and gas company's stock valued at $146,802,000 after purchasing an additional 605,705 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Marathon Petroleum by 332.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 320,499 shares of the oil and gas company's stock valued at $52,123,000 after purchasing an additional 246,384 shares in the last quarter. Merewether Investment Management LP acquired a new position in shares of Marathon Petroleum during the second quarter valued at about $35,548,000. Finally, Amundi boosted its position in shares of Marathon Petroleum by 11.8% during the 3rd quarter. Amundi now owns 1,626,862 shares of the oil and gas company's stock worth $314,830,000 after purchasing an additional 172,172 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company's stock.

Marathon Petroleum Price Performance

MPC stock opened at $245.28 on Tuesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.74 and a current ratio of 1.26. The business has a 50-day simple moving average of $207.07 and a two-hundred day simple moving average of $192.87. The company has a market capitalization of $72.23 billion, a P/E ratio of 18.37, a price-to-earnings-growth ratio of 0.53 and a beta of 0.69. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $255.77.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings data on Tuesday, February 3rd. The oil and gas company reported $4.07 EPS for the quarter, topping the consensus estimate of $3.73 by $0.34. The firm had revenue of $32.57 billion during the quarter, compared to the consensus estimate of $30.89 billion. Marathon Petroleum had a return on equity of 13.90% and a net margin of 2.99%.The company's quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.77 earnings per share. Research analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Wednesday, February 18th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Wednesday, February 18th. Marathon Petroleum's dividend payout ratio is presently 29.96%.

Insiders Place Their Bets

In other Marathon Petroleum news, insider Ricky D. Hessling sold 1,810 shares of Marathon Petroleum stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $224.78, for a total transaction of $406,851.80. Following the transaction, the insider directly owned 10,188 shares of the company's stock, valued at $2,290,058.64. The trade was a 15.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders sold 4,473 shares of company stock worth $1,015,428. 0.17% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MPC. Weiss Ratings downgraded Marathon Petroleum from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, March 19th. Wall Street Zen upgraded Marathon Petroleum from a "buy" rating to a "strong-buy" rating in a report on Saturday. Citigroup raised their price objective on Marathon Petroleum from $182.00 to $210.00 and gave the company a "neutral" rating in a research note on Monday, February 9th. Barclays decreased their price objective on Marathon Petroleum from $202.00 to $194.00 and set an "overweight" rating for the company in a report on Tuesday, January 13th. Finally, Piper Sandler cut their target price on Marathon Petroleum from $231.00 to $184.00 and set a "neutral" rating on the stock in a report on Thursday, January 8th. Ten analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $209.19.

Marathon Petroleum Profile

Marathon Petroleum Corporation NYSE: MPC is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum's operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.