Sax Wealth Advisors LLC Has $464,000 Stock Position in Marathon Petroleum Corporation $MPC

Sax Wealth Advisors LLC grew its position in Marathon Petroleum Corporation (NYSE:MPC) by 6.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,796 shares of the oil and gas company’s stock after buying an additional 181 shares during the period. Sax Wealth Advisors LLC’s holdings in Marathon Petroleum were worth $464,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Venturi Wealth Management LLC grew its holdings in shares of Marathon Petroleum by 5.6% in the 2nd quarter. Venturi Wealth Management LLC now owns 2,476 shares of the oil and gas company’s stock valued at $411,000 after buying an additional 132 shares during the period. Independent Solutions Wealth Management LLC grew its holdings in shares of Marathon Petroleum by 5.9% in the 2nd quarter. Independent Solutions Wealth Management LLC now owns 8,990 shares of the oil and gas company’s stock valued at $1,493,000 after buying an additional 502 shares during the period. Roundview Capital LLC acquired a new position in shares of Marathon Petroleum in the 2nd quarter valued at $203,000. Avantra Family Wealth Inc. grew its holdings in shares of Marathon Petroleum by 1.6% in the 2nd quarter. Avantra Family Wealth Inc. now owns 8,886 shares of the oil and gas company’s stock valued at $1,476,000 after buying an additional 141 shares during the period. Finally, Trueblood Wealth Management LLC lifted its position in Marathon Petroleum by 1.6% in the 2nd quarter. Trueblood Wealth Management LLC now owns 5,713 shares of the oil and gas company’s stock valued at $949,000 after acquiring an additional 90 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on MPC. UBS Group boosted their price objective 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. Citigroup boosted their price target on shares of Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. Barclays boosted their price target on shares of Marathon Petroleum from $159.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. Piper Sandler boosted their price target on shares of Marathon Petroleum from $184.00 to $222.00 and gave the stock a “neutral” rating in a research report on Thursday, September 11th. Finally, 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 research report on Wednesday, August 6th. Eight investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $198.92.

Marathon Petroleum Trading Down 0.6%

Marathon Petroleum stock opened at $187.54 on Friday. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $201.61. 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 stock has a market capitalization of $57.02 billion, a P/E ratio of 27.82, a PEG ratio of 3.17 and a beta of 0.90. The stock has a 50-day simple moving average of $178.42 and a 200 day simple moving average of $163.28.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.74. The firm had revenue of $34.10 billion during 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 business’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same period last year, the business posted $4.12 earnings per share. Analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Wednesday, August 20th. Marathon Petroleum’s payout ratio is presently 54.01%.

Insider Buying and Selling at Marathon Petroleum

In other news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum 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 completion of the sale, the insider directly owned 28,700 shares in the company, valued at approximately $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.