Wealth Enhancement Advisory Services LLC Purchases 11,958 Shares of Marathon Petroleum Corporation $MPC

Key Points

• Wealth Enhancement Advisory Services LLC increased its holdings in Marathon Petroleum by 10.8% in Q2, now owning 122,557 shares valued at approximately $21.58 million.
• Research analysts are bullish on Marathon Petroleum, with multiple firms raising their price targets and the stock holding a consensus rating of "Moderate Buy."
• Marathon Petroleum recently reported earnings of $3.96 per share, surpassing estimates, with quarterly revenue hitting $34.10 billion.

Wealth Enhancement Advisory Services LLC boosted its position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 10.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 122,557 shares of the oil and gas company's stock after purchasing an additional 11,958 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Marathon Petroleum were worth $21,576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in MPC. Fourth Dimension Wealth LLC bought a new stake in Marathon Petroleum in the fourth quarter worth about $26,000. CBIZ Investment Advisory Services LLC lifted its stake in Marathon Petroleum by 1,546.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company's stock worth $31,000 after purchasing an additional 201 shares during the last quarter. Hughes Financial Services LLC bought a new stake in Marathon Petroleum in the first quarter worth about $32,000. WPG Advisers LLC bought a new stake in Marathon Petroleum in the first quarter worth about $32,000. Finally, Decker Retirement Planning Inc. raised its stake in shares of Marathon Petroleum by 1,621.4% during 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 in the last quarter. Institutional investors own 76.77% of the company's stock.

Wall Street Analysts Forecast Growth

MPC has been the subject of a number of research reports. Piper Sandler boosted their price target on Marathon Petroleum from $184.00 to $222.00 and gave the company a "neutral" rating in a report on Thursday, September 11th. UBS Group boosted their price target on Marathon Petroleum from $175.00 to $203.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Dbs Bank upgraded Marathon Petroleum to a "moderate buy" rating in a report on Monday, July 28th. Raymond James Financial boosted their price target on Marathon Petroleum from $195.00 to $199.00 and gave the company an "outperform" rating in a report on Tuesday, September 9th. Finally, Morgan Stanley boosted their price target on Marathon Petroleum from $160.00 to $182.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Eight research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $192.50.

Marathon Petroleum Price Performance

Shares of MPC opened at $185.32 on Friday. The firm has a market capitalization of $56.34 billion, a PE ratio of 27.50, a price-to-earnings-growth ratio of 3.43 and a beta of 0.97. 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 Corporation has a 1-year low of $115.10 and a 1-year high of $186.28. The company's fifty day moving average price is $173.21 and its 200-day moving average price is $158.57.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, beating analysts' consensus estimates of $3.22 by $0.74. The firm had revenue of $34.10 billion for the quarter, compared to analyst estimates of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The business's quarterly revenue was down 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $4.12 earnings per share. On average, equities research analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

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

Insiders Place Their Bets

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the stock in a transaction dated 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 sale, the insider directly owned 28,700 shares of the company's stock, valued at approximately $4,678,100. This trade represents a 27.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kim K.W. Rucker sold 7,392 shares of the business's stock in a transaction dated 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 completion of the transaction, the director directly owned 18,944 shares of the company's stock, valued at approximately $3,315,200. This trade represents a 28.07% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Marathon Petroleum Company 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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