Summit Financial LLC Grows Stock Holdings in Marathon Petroleum Corporation $MPC
Summit Financial LLC increased its stake in shares of Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 42.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,098 shares of the oil and gas company’s stock after buying an additional 1,522 shares during the period. Summit Financial LLC’s holdings in Marathon Petroleum were worth $743,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC acquired a new position in Marathon Petroleum during the fourth quarter worth about $26,000. CBIZ Investment Advisory Services LLC raised its position 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 worth $31,000 after acquiring an additional 201 shares during the last quarter. Hughes Financial Services LLC acquired a new position in Marathon Petroleum during the first quarter worth about $32,000. Decker Retirement Planning Inc. raised its position in Marathon Petroleum by 1,621.4% during the first 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 acquired a new position in Marathon Petroleum during the first quarter worth about $35,000. Institutional investors and hedge funds own 76.77% of the company’s stock.
Marathon Petroleum Stock Performance
Shares of MPC stock opened at $170.5290 on Friday. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $183.10. 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 company has a 50 day moving average price of $169.60 and a 200 day moving average price of $154.54. The firm has a market capitalization of $51.84 billion, a price-to-earnings ratio of 25.30, a price-to-earnings-growth ratio of 3.11 and a beta of 0.90.
Marathon Petroleum (NYSE:MPC — Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, topping the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The firm had revenue of $34.10 billion during the quarter, compared to analyst estimates of $31.70 billion. During the same quarter in the prior year, the business posted $4.12 earnings per share. Marathon Petroleum’s revenue for the quarter was down 11.1% compared to the same quarter last year. Sell-side analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current year.
Marathon Petroleum Dividend Announcement
The business 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. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $3.64 annualized dividend and a yield of 2.1%. Marathon Petroleum’s dividend payout ratio is 54.01%.
Insider Activity at Marathon Petroleum
In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the business’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. The trade was a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Molly R. Benson sold 10,879 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The stock was 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 of the company’s stock, valued at approximately $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.
Analyst Ratings Changes
MPC has been the subject of a number of research reports. UBS Group lifted their target price on shares of Marathon Petroleum from $175.00 to $203.00 and gave the stock a “buy” rating in a research report on Thursday, July 10th. Dbs Bank raised shares of Marathon Petroleum to a “moderate buy” rating in a research report on Monday, July 28th. Evercore ISI assumed 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 objective for the company. Scotiabank reissued an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, July 11th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $200.00 price objective (up previously from $180.00) on shares of Marathon Petroleum in a research report on Tuesday, July 15th. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $185.29.
Check Out Our Latest Report 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.
See Also
Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Corporation (NYSE:MPC — Free Report).
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