Southeast Asset Advisors LLC Buys Shares of 1,525 Marathon Petroleum Corporation $MPC

Southeast Asset Advisors LLC purchased a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC — Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 1,525 shares of the oil and gas company’s stock, valued at approximately $222,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MPC. Enterprise Financial Services Corp acquired a new stake in Marathon Petroleum during the 1st quarter worth approximately $202,000. Jump Financial LLC boosted its position in Marathon Petroleum by 128.0% during the 1st quarter. Jump Financial LLC now owns 8,663 shares of the oil and gas company’s stock worth $1,262,000 after buying an additional 4,863 shares during the period. SVB Wealth LLC boosted its position in Marathon Petroleum by 9.9% during the 1st quarter. SVB Wealth LLC now owns 9,974 shares of the oil and gas company’s stock worth $1,453,000 after buying an additional 897 shares during the period. Cadence Bank boosted its position in Marathon Petroleum by 1.4% during the 1st quarter. Cadence Bank now owns 8,196 shares of the oil and gas company’s stock worth $1,194,000 after buying an additional 115 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in Marathon Petroleum by 6.9% during the 1st quarter. Smartleaf Asset Management LLC now owns 6,957 shares of the oil and gas company’s stock worth $1,003,000 after buying an additional 451 shares during the period. 76.77% of the stock is owned by institutional investors.

Insider Transactions at Marathon Petroleum

In other news, insider Molly R. Benson sold 10,879 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $163.00, for a total value of $1,773,277.00. Following the sale, the insider directly owned 28,700 shares of the company’s stock, valued at approximately $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kim K.W. Rucker sold 7,392 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 18,944 shares in the company, valued at $3,315,200. This represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Marathon Petroleum Stock Up 3.4%

Marathon Petroleum stock opened at $170.5290 on Monday. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $183.10. The firm’s fifty day moving average is $169.60 and its 200 day moving average is $154.56. The company has a market capitalization of $51.84 billion, a PE ratio of 25.30, a PEG ratio of 3.11 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC — Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The business had revenue of $34.10 billion during the quarter, compared to analyst estimates of $31.70 billion. During the same quarter in the previous year, the business posted $4.12 EPS. Marathon Petroleum’s quarterly revenue was down 11.1% on a year-over-year basis. As a group, sell-side analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio is presently 54.01%.

Analysts Set New Price Targets

Several equities research analysts recently commented on MPC shares. Mizuho lifted their target price on shares of Marathon Petroleum from $168.00 to $184.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 13th. Scotiabank restated an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, July 11th. Evercore ISI began coverage on shares of Marathon Petroleum in a research report on Wednesday, June 18th. They issued an “in-line” rating and a $170.00 price target on the stock. Citigroup boosted their price target on shares of Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. Finally, Wolfe Research downgraded shares of Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 14th. Eight investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Marathon Petroleum currently has an average rating of “Hold” and an average price target of $185.29.

Get Our Latest Stock Report on MPC

Marathon Petroleum Company Profile

(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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