Crestwood Advisors Group LLC Acquires New Shares in Marathon Petroleum Corporation $MPC
Crestwood Advisors Group LLC bought a new position in shares of Marathon Petroleum Corporation (NYSE:MPC — Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,545 shares of the oil and gas company’s stock, valued at approximately $257,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Activest Wealth Management increased its holdings in shares of Marathon Petroleum by 290.2% during the 2nd quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 119 shares during the last quarter. CBIZ Investment Advisory Services LLC boosted its holdings in Marathon Petroleum by 1,546.2% during 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 acquiring an additional 201 shares during the period. Hughes Financial Services LLC acquired a new stake in Marathon Petroleum in the 1st quarter valued at approximately $32,000. WPG Advisers LLC acquired a new stake in shares of Marathon Petroleum in the first quarter worth $32,000. Finally, NewSquare Capital LLC increased its holdings in shares of Marathon Petroleum by 103.1% during the 2nd quarter. NewSquare Capital LLC now owns 199 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 101 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.
Marathon Petroleum Stock Up 0.6%
Shares of NYSE:MPC opened at $193.78 on Friday. The company has a quick ratio of 0.71, a current ratio of 1.32 and a debt-to-equity ratio of 1.31. The firm has a market cap of $58.25 billion, a P/E ratio of 20.66, a P/E/G ratio of 3.78 and a beta of 0.90. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $201.61. The company’s 50-day moving average price is $187.86 and its two-hundred day moving average price is $171.88.
Marathon Petroleum (NYSE:MPC — Get Free Report) last announced its earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.00 by $0.01. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. The company had revenue of $34.81 billion for the quarter, compared to analyst estimates of $31.06 billion. As a group, research analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.
Marathon Petroleum Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 19th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $4.00 annualized dividend and a yield of 2.1%. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s dividend payout ratio (DPR) is currently 54.01%.
Insider Buying and Selling
In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $163.00, for a total value of $1,773,277.00. Following the transaction, the insider directly owned 28,700 shares in the company, valued at approximately $4,678,100. This trade represents a 27.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.21% of the company’s stock.
Wall Street Analysts Forecast Growth
MPC has been the topic of a number of research reports. Wells Fargo & Company lowered their price objective on Marathon Petroleum from $214.00 to $213.00 and set an “overweight” rating on the stock in a research report on Wednesday. Wall Street Zen raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings reissued a “hold (c)” rating on shares of Marathon Petroleum in a report on Wednesday, October 8th. Raymond James Financial set a $200.00 price target on shares of Marathon Petroleum in a research report on Tuesday. Finally, Barclays raised their price objective on shares of Marathon Petroleum from $176.00 to $194.00 and gave the stock an “overweight” rating in a report on Monday, October 13th. Eight investment 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 currently has a consensus rating of “Moderate Buy” and an average target price of $200.00.
View Our Latest Stock Analysis on Marathon Petroleum
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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