SPC Financial Inc. Purchases 2,734 Shares of Marathon Petroleum Corporation (NYSE:MPC)

SPC Financial Inc. lifted its position in Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 11.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,020 shares of the oil and gas company’s stock after acquiring an additional 2,734 shares during the quarter. SPC Financial Inc.’s holdings in Marathon Petroleum were worth $3,937,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Fourth Dimension Wealth LLC bought a new stake in shares of Marathon Petroleum in the 4th quarter worth about $26,000. CBIZ Investment Advisory Services LLC lifted its holdings in shares of Marathon Petroleum by 1,546.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 201 shares during the last quarter. Hughes Financial Services LLC bought a new stake in shares of Marathon Petroleum in the 1st quarter worth about $32,000. Decker Retirement Planning Inc. lifted its holdings in shares of Marathon Petroleum by 1,621.4% in the 1st quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 227 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Marathon Petroleum in the 1st quarter worth about $35,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Down 2.8%

Shares of Marathon Petroleum stock opened at $165.47 on Friday. The firm’s 50 day moving average price is $168.81 and its 200-day moving average price is $153.27. The company has a quick ratio of 0.73, a current ratio of 1.19 and a debt-to-equity ratio of 1.16. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $183.10. The company has a market cap of $50.83 billion, a P/E ratio of 23.27, a PEG ratio of 2.91 and a beta of 0.88.

Marathon Petroleum (NYSE:MPC — Get Free Report) last posted its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.16. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The firm had revenue of $31.85 billion during the quarter, compared to analysts’ expectations of $28.91 billion. During the same period in the previous year, the business posted $2.58 EPS. The business’s revenue was down 4.1% compared to the same quarter last year. On average, 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 announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, August 20th. Marathon Petroleum’s payout ratio is currently 51.20%.

Insider Activity

In related news, Director Kim K.W. Rucker sold 7,392 shares of the business’s stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total value of $1,293,600.00. Following the completion of the transaction, the director directly owned 18,944 shares in the company, valued at $3,315,200. The trade was a 28.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MPC. UBS Group lifted their price objective on shares of Marathon Petroleum from $175.00 to $203.00 and gave the company a “buy” rating in a report on Thursday, July 10th. Citigroup lifted their price objective 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 lifted their price objective on shares of Marathon Petroleum from $182.00 to $205.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. TD Cowen lifted their price objective on shares of Marathon Petroleum from $152.00 to $163.00 and gave the company a “buy” rating in a report on Tuesday, June 10th. Finally, Wall Street Zen upgraded shares of Marathon Petroleum from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Marathon Petroleum presently has a consensus rating of “Hold” and a consensus price target of $183.93.

Get Our Latest 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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