Ieq Capital LLC Acquires 1,909 Shares of Marathon Petroleum Corporation $MPC

Ieq Capital LLC boosted its position in shares of Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 3.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,240 shares of the oil and gas company’s stock after acquiring an additional 1,909 shares during the period. Ieq Capital LLC’s holdings in Marathon Petroleum were worth $8,194,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Beverly Hills Private Wealth LLC lifted its position in Marathon Petroleum by 1.2% during the fourth quarter. Beverly Hills Private Wealth LLC now owns 6,655 shares of the oil and gas company’s stock valued at $928,000 after acquiring an additional 76 shares during the last quarter. Sunpointe LLC lifted its position in Marathon Petroleum by 5.1% during the first quarter. Sunpointe LLC now owns 1,681 shares of the oil and gas company’s stock valued at $245,000 after acquiring an additional 81 shares during the last quarter. Valmark Advisers Inc. lifted its position in Marathon Petroleum by 2.3% during the first quarter. Valmark Advisers Inc. now owns 3,801 shares of the oil and gas company’s stock valued at $554,000 after acquiring an additional 86 shares during the last quarter. Southland Equity Partners LLC lifted its position in Marathon Petroleum by 6.2% during the first quarter. Southland Equity Partners LLC now owns 1,549 shares of the oil and gas company’s stock valued at $226,000 after acquiring an additional 90 shares during the last quarter. Finally, Prudent Man Advisors LLC lifted its position in Marathon Petroleum by 2.3% during the first quarter. Prudent Man Advisors LLC now owns 4,056 shares of the oil and gas company’s stock valued at $591,000 after acquiring an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Insider Buying and Selling at Marathon Petroleum

In related 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 owned 18,944 shares in the company, valued at approximately $3,315,200. This trade represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Molly R. Benson sold 10,879 shares of the firm’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the sale, the insider owned 28,700 shares in the company, valued at approximately $4,678,100. This represents a 27.49% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MPC shares. Barclays increased their target price on shares of Marathon Petroleum from $159.00 to $189.00 and gave the company an “overweight” rating in a research report on Friday, July 11th. Morgan Stanley raised their price target on shares of Marathon Petroleum from $160.00 to $182.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Raymond James Financial reaffirmed an “outperform” rating and issued a $200.00 price target (up previously from $180.00) on shares of Marathon Petroleum in a report on Tuesday, July 15th. Wolfe Research cut shares of Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a report on Monday, July 14th. Finally, TD Cowen decreased their price target on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Eight investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $185.29.

Read Our Latest Research Report on Marathon Petroleum

Marathon Petroleum Stock Up 0.7%

MPC stock opened at $179.10 on Friday. The firm has a market cap of $54.45 billion, a PE ratio of 26.57, a P/E/G ratio of 3.23 and a beta of 0.90. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. The firm’s fifty day moving average is $170.22 and its 200 day moving average is $155.17. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $183.10.

Marathon Petroleum (NYSE:MPC — Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, beating the consensus estimate of $3.22 by $0.74. The company 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 firm’s revenue was down 11.1% on a year-over-year basis. During the same quarter last year, the business earned $4.12 earnings per share. On average, research analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently declared 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 2.0%. The ex-dividend date is Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 54.01%.

About Marathon Petroleum

(Free Report)

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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