Brown Miller Wealth Management LLC Raises Stake in Marathon Petroleum Corporation $MPC

Brown Miller Wealth Management LLC grew its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 13.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 2,976 shares of the oil and gas company’s stock after acquiring an additional 352 shares during the quarter. Brown Miller Wealth Management LLC’s holdings in Marathon Petroleum were worth $494,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. Good Steward Wealth Advisors LLC bought a new position in shares of Marathon Petroleum during the first quarter valued at about $346,000. Silver Oak Securities Incorporated bought a new stake in Marathon Petroleum in the first quarter valued at approximately $339,000. Financial Partners Group LLC boosted its stake in shares of Marathon Petroleum by 65.8% during the first quarter. Financial Partners Group LLC now owns 3,937 shares of the oil and gas company’s stock valued at $574,000 after purchasing an additional 1,563 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in shares of Marathon Petroleum by 8.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 44,387 shares of the oil and gas company’s stock worth $6,467,000 after purchasing an additional 3,291 shares during the last quarter. Finally, Jump Financial LLC increased its stake in shares of Marathon Petroleum by 128.0% in the first 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. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MPC. UBS Group increased their price target on shares of Marathon Petroleum from $203.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, September 26th. Piper Sandler raised their target price on Marathon Petroleum from $184.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, September 11th. Citigroup upped their price target on Marathon Petroleum from $144.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. Wells Fargo & Company lifted their price objective on Marathon Petroleum from $182.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Finally, Raymond James Financial upped their target price on Marathon Petroleum from $195.00 to $199.00 and gave the company an “outperform” rating in a report on Tuesday, September 9th. Eight investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $196.29.

Marathon Petroleum Price Performance

Shares of MPC opened at $193.31 on Friday. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $201.61. The firm’s 50-day simple moving average is $177.02 and its two-hundred day simple moving average is $162.25. The stock has a market cap of $58.77 billion, a PE ratio of 28.68, a price-to-earnings-growth ratio of 3.35 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.

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

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, August 20th. Marathon Petroleum’s payout ratio is currently 54.01%.

Insider Buying and Selling

In related 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 transaction 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.21% of the company’s stock.

Marathon Petroleum Company Profile

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.