WESPAC Advisors SoCal LLC Takes Position in Marathon Petroleum Corporation (NYSE:MPC)

WESPAC Advisors SoCal LLC acquired a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,700 shares of the oil and gas company's stock, valued at approximately $248,000.

Several other institutional investors and hedge funds have also bought and sold shares of MPC. Fourth Dimension Wealth LLC acquired a new stake in shares of Marathon Petroleum in the fourth quarter valued at about $26,000. CBIZ Investment Advisory Services LLC grew its holdings in shares of 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 valued at $31,000 after purchasing an additional 201 shares during the period. Hughes Financial Services LLC purchased a new stake in shares of Marathon Petroleum in the first quarter valued at about $32,000. Decker Retirement Planning Inc. grew its holdings 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 purchasing an additional 227 shares during the period. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Marathon Petroleum in the first quarter valued at about $35,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MPC shares. UBS Group increased their target price on shares of Marathon Petroleum from $175.00 to $203.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Citigroup raised their target price on shares of Marathon Petroleum from $144.00 to $182.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Wells Fargo & Company raised their price objective on shares of Marathon Petroleum from $182.00 to $205.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Evercore ISI initiated coverage on shares of Marathon Petroleum in a research report on Wednesday, June 18th. They set an "in-line" rating and a $170.00 target price on the stock. Finally, Piper Sandler lifted their price objective on shares of Marathon Petroleum from $175.00 to $182.00 and gave the company a "neutral" rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $183.93.

Insider Activity

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the company'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 value of $1,293,600.00. Following the completion of the transaction, the director owned 18,944 shares in the company, valued at $3,315,200. This represents a 28.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.21% of the company's stock.

Marathon Petroleum Price Performance

MPC stock traded up $0.33 during trading on Friday, hitting $171.64. The stock had a trading volume of 1,286,093 shares, compared to its average volume of 2,754,062. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.73 and a current ratio of 1.19. The stock has a market cap of $52.73 billion, a price-to-earnings ratio of 24.14, a price-to-earnings-growth ratio of 3.31 and a beta of 0.88. The company's 50 day moving average price is $167.50 and its two-hundred day moving average price is $152.15. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $183.31.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.16. The company had revenue of $31.85 billion during the quarter, compared to analysts' expectations of $28.91 billion. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. The firm's revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.58 EPS. On average, sell-side analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

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 dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend was Wednesday, May 21st. Marathon Petroleum's payout ratio is currently 51.20%.

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.