Turn8 Private Wealth Inc. Has $3.17 Million Stock Holdings in Marathon Petroleum Corporation $MPC

Key Points

• Turn8 Private Wealth Inc. increased its stake in Marathon Petroleum by 7.1% in the 1st quarter, owning approximately $3.17 million worth of shares, which accounts for about 2.5% of its portfolio.
• Marathon Petroleum's latest earnings report showed a quarterly EPS of $3.96, exceeding analyst expectations, and the firm announced a dividend of $0.91 per share with a yield of 2.0%.
• Institutional investors hold about 76.77% of Marathon Petroleum's stock, with various firms significantly increasing their positions in the last quarter.

Turn8 Private Wealth Inc. increased its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 7.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 21,730 shares of the oil and gas company's stock after buying an additional 1,444 shares during the period. Marathon Petroleum accounts for about 2.5% of Turn8 Private Wealth Inc.'s portfolio, making the stock its 20th largest holding. Turn8 Private Wealth Inc.'s holdings in Marathon Petroleum were worth $3,166,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fourth Dimension Wealth LLC bought a new position in shares of Marathon Petroleum during the fourth quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC grew its holdings 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 valued at $31,000 after buying an additional 201 shares in the last quarter. Hughes Financial Services LLC bought a new position in Marathon Petroleum during the 1st quarter worth $32,000. WPG Advisers LLC acquired a new stake in shares of Marathon Petroleum during the first quarter worth $32,000. Finally, Decker Retirement Planning Inc. boosted its position in shares of 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 valued at $35,000 after acquiring an additional 227 shares during the period. Institutional investors and hedge funds own 76.77% of the company's stock.

Insider Transactions at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 7,392 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total value of $1,293,600.00. Following the sale, the director directly owned 18,944 shares in the company, valued at approximately $3,315,200. This trade represents a 28.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Molly R. Benson sold 10,879 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the transaction, the insider owned 28,700 shares of the company's stock, valued at approximately $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Bank of America lifted their price objective on shares of Marathon Petroleum from $184.00 to $192.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 3rd. TD Cowen lowered their target price on shares of Marathon Petroleum from $190.00 to $182.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Wall Street Zen upgraded Marathon Petroleum from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Barclays raised their price objective on Marathon Petroleum from $159.00 to $189.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Finally, Citigroup increased their target price on Marathon Petroleum from $144.00 to $182.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Eight equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $186.50.

Marathon Petroleum Stock Down 0.8%

NYSE MPC opened at $181.64 on Thursday. The business has a fifty day moving average price of $172.45 and a two-hundred day moving average price of $156.72. The stock has a market capitalization of $55.22 billion, a PE ratio of 26.95, a PEG ratio of 3.70 and a beta of 0.97. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $186.28. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The company had revenue of $34.10 billion for the quarter, compared to analyst estimates of $31.70 billion. During the same quarter last year, the company posted $4.12 EPS. The company's revenue for the quarter was down 11.1% compared to the same quarter last year. Equities analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.64 annualized dividend and a yield of 2.0%. Marathon Petroleum's payout ratio is presently 54.01%.

About Marathon Petroleum

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.

Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Corporation (NYSE:MPC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.