Operose Advisors LLC Buys New Shares in Marathon Petroleum Corporation (NYSE:MPC)

Operose Advisors LLC bought a new stake in Marathon Petroleum Corporation (NYSE:MPC) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 285 shares of the oil and gas company’s stock, valued at approximately $42,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fourth Dimension Wealth LLC bought a new position in Marathon Petroleum during the fourth quarter worth about $26,000. CBIZ Investment Advisory Services LLC grew 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 worth $31,000 after purchasing an additional 201 shares during the period. Hughes Financial Services LLC bought a new position in Marathon Petroleum during the first quarter worth about $32,000. Decker Retirement Planning Inc. grew its holdings 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 purchasing an additional 227 shares during the period. Finally, Barnes Dennig Private Wealth Management LLC bought 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.

Analyst Ratings Changes

MPC has been the subject of a number of research analyst reports. Raymond James Financial reiterated an “outperform” rating and set a $200.00 price target (up previously from $180.00) on shares of Marathon Petroleum in a report on Tuesday, July 15th. Scotiabank reaffirmed an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, July 11th. Citigroup upped their target price on Marathon Petroleum from $144.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. Morgan Stanley upped their target price on Marathon Petroleum from $160.00 to $182.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. Finally, Wall Street Zen raised Marathon Petroleum from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $185.29.

Marathon Petroleum Trading Down 0.3%

Shares of MPC stock opened at $160.95 on Monday. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. The stock has a market cap of $48.93 billion, a P/E ratio of 23.88, a price-to-earnings-growth ratio of 2.88 and a beta of 0.90. The stock has a 50 day simple moving average of $169.25 and a 200 day simple moving average of $153.73. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $183.10.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.74. The business had revenue of $34.10 billion during the quarter, compared to analysts’ expectations of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%. The firm’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $4.12 earnings per share. On average, research analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders 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 2.3%. The ex-dividend date is Wednesday, August 20th. Marathon Petroleum’s payout ratio is currently 54.01%.

Insider Buying and Selling

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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is currently owned by corporate insiders.

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.