SteelPeak Wealth LLC Sells 3,349 Shares of Marathon Petroleum Corporation (NYSE:MPC)

SteelPeak Wealth LLC lowered its position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 20.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,692 shares of the oil and gas company's stock after selling 3,349 shares during the period. SteelPeak Wealth LLC's holdings in Marathon Petroleum were worth $1,849,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Joseph Group Capital Management raised its position in shares of Marathon Petroleum by 11.5% in the 1st quarter. Joseph Group Capital Management now owns 21,837 shares of the oil and gas company's stock worth $3,181,000 after acquiring an additional 2,259 shares in the last quarter. Hara Capital LLC grew its stake in shares of Marathon Petroleum by 73,333.3% in the 1st quarter. Hara Capital LLC now owns 2,203 shares of the oil and gas company's stock worth $321,000 after buying an additional 2,200 shares during the last quarter. Allworth Financial LP grew its stake in shares of Marathon Petroleum by 7.6% in the 1st quarter. Allworth Financial LP now owns 13,233 shares of the oil and gas company's stock worth $1,820,000 after buying an additional 931 shares during the last quarter. Poinciana Advisors Group LLC purchased a new stake in shares of Marathon Petroleum in the 1st quarter worth approximately $214,000. Finally, LBP AM SA grew its stake in shares of Marathon Petroleum by 28.4% in the 1st quarter. LBP AM SA now owns 65,444 shares of the oil and gas company's stock worth $9,535,000 after buying an additional 14,463 shares during the last quarter. Institutional investors own 76.77% of the company's stock.

Marathon Petroleum Price Performance

NYSE:MPC opened at $179.81 on Friday. 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 business's 50-day simple moving average is $163.74 and its two-hundred day simple moving average is $149.90. The stock has a market cap of $55.24 billion, a PE ratio of 25.29, a P/E/G ratio of 3.58 and a beta of 0.88. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $183.31.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued 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. 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 in the previous year, the firm posted $2.58 earnings per share. The business's revenue was down 4.1% compared to the same quarter last year. As a group, analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were issued a $0.91 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $3.64 annualized dividend and a dividend yield of 2.02%. Marathon Petroleum's dividend payout ratio (DPR) is 51.20%.

Insider Activity

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the business's stock in a transaction that occurred on 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 sale, the director directly owned 18,944 shares of the company's stock, valued at $3,315,200. The trade was a 28.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on MPC shares. UBS Group lifted their target price on Marathon Petroleum from $175.00 to $203.00 and gave the stock a "buy" rating in a report on Thursday. Mizuho lifted their target price on Marathon Petroleum from $168.00 to $184.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Raymond James Financial reissued a "strong-buy" rating on shares of Marathon Petroleum in a report on Monday, June 30th. Piper Sandler lifted their target price on Marathon Petroleum from $157.00 to $175.00 and gave the stock a "neutral" rating in a report on Thursday. Finally, Scotiabank raised their price target on Marathon Petroleum from $147.00 to $180.00 and gave the stock a "sector outperform" rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Marathon Petroleum has an average rating of "Moderate Buy" and a consensus target price of $184.38.

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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