A&I Financial Services LLC Invests $541,000 in Marathon Petroleum Corporation (NYSE:MPC)
A&I Financial Services LLC bought a new position in Marathon Petroleum Corporation (NYSE:MPC — Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,716 shares of the oil and gas company’s stock, valued at approximately $541,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Greatmark Investment Partners Inc. lifted its stake in shares of Marathon Petroleum by 3.5% in the fourth quarter. Greatmark Investment Partners Inc. now owns 161,171 shares of the oil and gas company’s stock worth $22,483,000 after buying an additional 5,476 shares in the last quarter. TCTC Holdings LLC lifted its stake in shares of Marathon Petroleum by 3.3% in the fourth quarter. TCTC Holdings LLC now owns 91,256 shares of the oil and gas company’s stock worth $12,730,000 after buying an additional 2,892 shares in the last quarter. Cambridge Financial Group Inc. bought a new position in shares of Marathon Petroleum in the fourth quarter worth approximately $5,624,000. Good Steward Wealth Advisors LLC bought a new position in shares of Marathon Petroleum in the first quarter worth approximately $346,000. Finally, New Age Alpha Advisors LLC bought a new position in shares of Marathon Petroleum in the fourth quarter worth approximately $1,192,000. Institutional investors own 76.77% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the stock. Piper Sandler raised their target price on shares of Marathon Petroleum from $157.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday. Scotiabank raised their target price on shares of Marathon Petroleum from $147.00 to $180.00 and gave the stock a “sector outperform” rating in a report on Friday. Raymond James Financial restated a “strong-buy” rating on shares of Marathon Petroleum in a report on Monday, June 30th. TD Cowen raised their target price on shares of Marathon Petroleum from $152.00 to $163.00 and gave the stock a “buy” rating in a report on Tuesday, June 10th. Finally, Morgan Stanley dropped their target price on shares of Marathon Petroleum from $175.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $184.38.
Get Our Latest Stock Report on Marathon Petroleum
Insider Activity at Marathon Petroleum
In other news, Director Kim K.W. Rucker sold 7,392 shares of the firm’s stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the sale, the director directly owned 18,944 shares in the company, valued at $3,315,200. This trade represents a 28.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.21% of the stock is owned by insiders.
Marathon Petroleum Stock Down 1.3%
MPC opened at $179.81 on Friday. The company has a current ratio of 1.19, a quick ratio of 0.73 and a debt-to-equity ratio of 1.16. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $183.31. The company has a market capitalization of $55.24 billion, a PE ratio of 25.29, a PEG ratio of 3.53 and a beta of 0.88. The firm’s 50 day simple moving average is $163.74 and its two-hundred day simple moving average is $150.00.
Marathon Petroleum (NYSE:MPC — Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $31.85 billion for the quarter, compared to the consensus estimate of $28.91 billion. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The company’s revenue was down 4.1% on a year-over-year basis. During the same period last year, the firm earned $2.58 EPS. As a group, equities analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current year.
Marathon Petroleum Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were given a dividend of $0.91 per share. The ex-dividend date was Wednesday, May 21st. This represents a $3.64 annualized dividend and a dividend yield of 2.02%. Marathon Petroleum’s payout ratio is 51.20%.
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.
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