Tulsa Wealth Advisors INC Makes New Investment in Marathon Petroleum Corporation $MPC

Key Points

• Tulsa Wealth Advisors acquired 33,017 Marathon Petroleum shares worth approximately $8.44 million in the second quarter, making MPC its 19th-largest holding. Institutional investors and hedge funds collectively own 76.77% of the company.
• Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and an average price target of $312.50; recent targets range as high as $335.
• Marathon Petroleum reported quarterly EPS of $17.73, well above the $14.27 consensus, while revenue rose 53.5% year over year to $51.99 billion. The company also declared a quarterly dividend of $1.00 per share, or $4.00 annualized.

Tulsa Wealth Advisors INC bought a new position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 33,017 shares of the oil and gas company's stock, valued at approximately $8,442,000. Marathon Petroleum accounts for approximately 1.2% of Tulsa Wealth Advisors INC's holdings, making the stock its 19th biggest holding.

A number of other hedge funds have also modified their holdings of the company. Main Street Group LTD bought a new position in Marathon Petroleum during the 1st quarter worth approximately $35,000. Cedar Mountain Advisors LLC bought a new stake in Marathon Petroleum in the first quarter valued at approximately $40,000. Navalign LLC bought a new stake in Marathon Petroleum in the fourth quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Marathon Petroleum in the fourth quarter worth $31,000. Finally, Berbice Capital Management LLC raised its holdings in Marathon Petroleum by 100.0% in the fourth quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company's stock worth $33,000 after purchasing an additional 100 shares during the period. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Marathon Petroleum

In other news, VP Michael A. Henschen II sold 6,336 shares of the company's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the transaction, the vice president directly owned 16,900 shares of the company's stock, valued at $4,543,058. This represents a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. BMO Capital Markets reissued an "outperform" rating on shares of Marathon Petroleum in a report on Friday, June 12th. UBS Group reaffirmed a "buy" rating and set a $321.00 price objective on shares of Marathon Petroleum in a research note on Friday, July 10th. Jefferies Financial Group set a $335.00 target price on Marathon Petroleum and gave the stock a "buy" rating in a report on Sunday, July 12th. Bank of America boosted their target price on Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. Finally, Weiss Ratings upgraded Marathon Petroleum from a "hold (c+)" rating to a "buy (b)" rating in a report on Wednesday, August 5th. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $312.50.

Marathon Petroleum Stock Up 0.1%

Marathon Petroleum stock opened at $355.61 on Monday. The company has a 50 day moving average of $287.31 and a 200-day moving average of $248.19. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. Marathon Petroleum Corporation has a twelve month low of $160.87 and a twelve month high of $360.10. The stock has a market capitalization of $103.82 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, topping analysts' consensus estimates of $14.27 by $3.46. The business had revenue of $51.99 billion for the quarter, compared to analyst estimates of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The firm's quarterly revenue was up 53.5% on a year-over-year basis. During the same period last year, the business posted $3.96 earnings per share. On average, equities research analysts anticipate that Marathon Petroleum Corporation will post 46.66 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. Marathon Petroleum's dividend payout ratio (DPR) is currently 13.75%.

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.

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