Marathon Petroleum Corporation $MPC Shares Bought by Sitrin Capital Management LLC

Sitrin Capital Management LLC boosted its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 16.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,285 shares of the oil and gas company’s stock after purchasing an additional 5,398 shares during the period. Marathon Petroleum comprises approximately 3.2% of Sitrin Capital Management LLC’s investment portfolio, making the stock its 16th biggest holding. Sitrin Capital Management LLC’s holdings in Marathon Petroleum were worth $6,193,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC raised its position in shares of Marathon Petroleum by 1,546.2% in 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 period. Hughes Financial Services LLC acquired a new position in shares of Marathon Petroleum in the first quarter worth about $32,000. WPG Advisers LLC acquired a new position in shares of Marathon Petroleum in the first quarter worth about $32,000. Decker Retirement Planning Inc. raised its position in shares of Marathon Petroleum by 1,621.4% in 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 period. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Marathon Petroleum in the first quarter worth about $35,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $188.72 on Thursday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71. The firm has a market capitalization of $57.37 billion, a price-to-earnings ratio of 28.00, a PEG ratio of 3.22 and a beta of 0.90. The company’s 50-day moving average is $178.07 and its two-hundred day moving average is $163.01. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $201.61.

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

Marathon Petroleum Announces Dividend

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

Insider Activity at Marathon Petroleum

In other news, insider Molly R. Benson sold 10,879 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $163.00, for a total value of $1,773,277.00. Following the transaction, the insider directly owned 28,700 shares in the company, valued at approximately $4,678,100. This represents a 27.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Scotiabank reiterated an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, July 11th. UBS Group boosted their target price on shares of Marathon Petroleum from $203.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Citigroup boosted their target price on shares of Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. TD Cowen cut their target price on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Finally, Piper Sandler boosted their target price on shares of Marathon Petroleum from $184.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, September 11th. Eight investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $198.23.

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.