Wills Financial Group LLC Makes New $1.64 Million Investment in Marathon Petroleum Corporation (NYSE:MPC)

Key Points

• Wills Financial Group LLC acquired 11,275 shares of Marathon Petroleum Corporation, valued at approximately $1,643,000, signaling investor confidence in the company's prospects.
• Marathon Petroleum reported a quarterly earnings per share of ($0.24), which beat analyst expectations, alongside a revenue of $31.85 billion, indicating strong operational performance.
• The company recently announced a $0.91 quarterly dividend with a yield of 2.2%, reflecting its commitment to returning value to shareholders.

Wills Financial Group LLC acquired a new position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,275 shares of the oil and gas company's stock, valued at approximately $1,643,000.

Several other institutional investors have also recently made changes to their positions in MPC. Sfmg LLC increased its stake in Marathon Petroleum by 7.3% in the first quarter. Sfmg LLC now owns 1,918 shares of the oil and gas company's stock valued at $279,000 after acquiring an additional 130 shares during the last quarter. Commonwealth Equity Services LLC grew its position in shares of Marathon Petroleum by 6.2% during the 1st quarter. Commonwealth Equity Services LLC now owns 166,838 shares of the oil and gas company's stock worth $24,307,000 after buying an additional 9,707 shares during the period. Raiffeisen Bank International AG increased its stake in shares of Marathon Petroleum by 202.4% in the 1st quarter. Raiffeisen Bank International AG now owns 7,702 shares of the oil and gas company's stock valued at $1,110,000 after acquiring an additional 5,155 shares in the last quarter. Heritage Trust Co bought a new stake in Marathon Petroleum in the 1st quarter valued at about $313,000. Finally, SPC Financial Inc. raised its position in shares of Marathon Petroleum by 11.3% during the first quarter. SPC Financial Inc. now owns 27,020 shares of the oil and gas company's stock worth $3,937,000 after purchasing an additional 2,734 shares during the period. Institutional investors and hedge funds own 76.77% of the company's stock.

Marathon Petroleum Trading Down 0.2%

Shares of NYSE:MPC traded down $0.26 during midday trading on Friday, hitting $161.25. 638,985 shares of the stock traded hands, compared to its average volume of 2,674,213. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $183.10. The company has a quick ratio of 0.73, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. The business's 50 day moving average is $169.24 and its two-hundred day moving average is $153.63. The stock has a market capitalization of $49.54 billion, a PE ratio of 23.92, a P/E/G ratio of 2.77 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, topping the consensus estimate of $3.22 by $0.74. The business had revenue of $34.10 billion during 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%. Marathon Petroleum's quarterly revenue was down 11.1% compared to the same quarter last year. During the same period last year, the business posted $4.12 earnings per share. As a group, research analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Wednesday, August 20th. Marathon Petroleum's dividend payout ratio is 54.01%.

Analyst Ratings Changes

A number of analysts have commented on MPC shares. Dbs Bank upgraded shares of Marathon Petroleum to a "moderate buy" rating in a research note on Monday, July 28th. Evercore ISI initiated coverage on Marathon Petroleum in a report on Wednesday, June 18th. They issued an "in-line" rating and a $170.00 target price on the stock. Citigroup increased 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 increased their price objective on shares of Marathon Petroleum from $182.00 to $205.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Finally, TD Cowen reduced their target price on Marathon Petroleum from $190.00 to $182.00 and set a "buy" rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $185.29.

Insider Buying and Selling

In related news, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction dated 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 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.21% of the company's stock.

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.