Tranquility Partners LLC Increases Stock Position in Marathon Petroleum Corporation $MPC

Tranquility Partners LLC lifted its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 4.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,598 shares of the oil and gas company’s stock after acquiring an additional 419 shares during the period. Tranquility Partners LLC’s holdings in Marathon Petroleum were worth $1,760,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Johnson Investment Counsel Inc. grew its position in shares of Marathon Petroleum by 3.8% during the second quarter. Johnson Investment Counsel Inc. now owns 14,466 shares of the oil and gas company’s stock worth $2,403,000 after acquiring an additional 524 shares during the last quarter. Apollon Wealth Management LLC increased its stake in Marathon Petroleum by 6.0% in the 2nd quarter. Apollon Wealth Management LLC now owns 10,791 shares of the oil and gas company’s stock valued at $1,793,000 after buying an additional 614 shares during the period. Fifth Third Wealth Advisors LLC raised its position in Marathon Petroleum by 4.7% during the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 10,465 shares of the oil and gas company’s stock worth $1,738,000 after buying an additional 470 shares during the last quarter. Trust Co. of Toledo NA OH raised its position in Marathon Petroleum by 9.3% during the 2nd quarter. Trust Co. of Toledo NA OH now owns 5,109 shares of the oil and gas company’s stock worth $849,000 after buying an additional 436 shares during the last quarter. Finally, Aberdeen Group plc raised its position in Marathon Petroleum by 4.4% during the 2nd quarter. Aberdeen Group plc now owns 145,842 shares of the oil and gas company’s stock worth $24,307,000 after buying an additional 6,083 shares during the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. UBS Group upped their price objective on shares of Marathon Petroleum from $203.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. Raymond James Financial upped their price objective on shares of Marathon Petroleum from $195.00 to $199.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 9th. Scotiabank reissued an “outperform” rating on shares of Marathon Petroleum in a report on Thursday. Barclays raised their target price on Marathon Petroleum from $159.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, July 11th. Finally, Evercore ISI raised their target price on Marathon Petroleum from $170.00 to $210.00 and gave the company an “in-line” rating in a report on Friday, September 19th. Eight equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Marathon Petroleum currently has an average rating of “Moderate Buy” and a consensus price target of $198.92.

Insider Buying and Selling at Marathon Petroleum

In other news, insider Molly R. Benson sold 10,879 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider owned 28,700 shares in the company, valued at $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.21% of the stock is currently owned by corporate insiders.

Marathon Petroleum Trading Down 3.5%

Shares of MPC stock opened at $181.08 on Friday. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $201.61. The stock has a market cap of $55.05 billion, a P/E ratio of 26.87, a P/E/G ratio of 3.04 and a beta of 0.90. The business has a fifty day simple moving average of $178.73 and a 200-day simple moving average of $163.60. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, beating 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 business had revenue of $34.10 billion during the quarter, compared to analysts’ expectations of $31.70 billion. During the same quarter last year, the business posted $4.12 earnings per share. The business’s revenue for the quarter was down 11.1% on a year-over-year basis. On average, analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company 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. The ex-dividend date was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.0%. 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.