Confluence Wealth Services Inc. Raises Holdings in Marathon Petroleum Corporation $MPC

Confluence Wealth Services Inc. boosted its stake in Marathon Petroleum Corporation (NYSE:MPC) by 1.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,470 shares of the oil and gas company’s stock after purchasing an additional 411 shares during the period. Confluence Wealth Services Inc.’s holdings in Marathon Petroleum were worth $4,231,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in MPC. Baker Tilly Wealth Management LLC boosted its position in Marathon Petroleum by 2.8% during the 2nd quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company’s stock valued at $370,000 after buying an additional 60 shares during the period. CHICAGO TRUST Co NA raised its stake in shares of Marathon Petroleum by 3.9% during the second quarter. CHICAGO TRUST Co NA now owns 1,684 shares of the oil and gas company’s stock valued at $280,000 after acquiring an additional 63 shares during the last quarter. Sunpointe LLC raised its stake in shares of Marathon Petroleum by 4.1% during the second quarter. Sunpointe LLC now owns 1,750 shares of the oil and gas company’s stock valued at $291,000 after acquiring an additional 69 shares during the last quarter. Beverly Hills Private Wealth LLC boosted its holdings in shares of Marathon Petroleum by 1.3% during the first quarter. Beverly Hills Private Wealth LLC now owns 6,739 shares of the oil and gas company’s stock worth $982,000 after purchasing an additional 84 shares during the period. Finally, Valmark Advisers Inc. grew its stake in shares of Marathon Petroleum by 2.3% in the first quarter. Valmark Advisers Inc. now owns 3,801 shares of the oil and gas company’s stock worth $554,000 after purchasing an additional 86 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Piper Sandler increased their price objective on Marathon Petroleum from $184.00 to $222.00 and gave the stock a “neutral” rating in a report on Thursday, September 11th. Morgan Stanley upped their target price on Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a report on Friday. TD Cowen cut their price target on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Bank of America boosted their price objective on shares of Marathon Petroleum from $184.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, September 3rd. Finally, BMO Capital Markets raised their target price on shares of Marathon Petroleum from $195.00 to $208.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Eight research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Marathon Petroleum presently has an average rating of “Hold” and an average price target of $196.29.

Insider Activity

In other news, 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 value of $1,773,277.00. Following the sale, the insider directly owned 28,700 shares of the company’s stock, valued at $4,678,100. The trade was a 27.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.21% of the company’s stock.

Marathon Petroleum Price Performance

MPC opened at $193.31 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 company has a market cap of $58.77 billion, a price-to-earnings ratio of 28.68, a price-to-earnings-growth ratio of 3.35 and a beta of 0.90. The stock has a fifty day simple moving average of $177.02 and a two-hundred day simple moving average of $162.33. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $201.61.

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

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.9%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 54.01%.

Marathon Petroleum 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.