Chicago Partners Investment Group LLC Grows Stock Holdings in Marathon Petroleum Corporation $MPC

Chicago Partners Investment Group LLC raised its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 1.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,668 shares of the oil and gas company’s stock after buying an additional 267 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Marathon Petroleum were worth $2,604,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Activest Wealth Management raised its position in shares of Marathon Petroleum by 290.2% in the 2nd quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 119 shares during the last quarter. CBIZ Investment Advisory Services LLC raised its position in Marathon Petroleum by 1,546.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock worth $31,000 after buying an additional 201 shares during the last quarter. Hughes Financial Services LLC purchased a new position in shares of Marathon Petroleum during the 1st quarter valued at approximately $32,000. WPG Advisers LLC purchased a new position in shares of Marathon Petroleum during the 1st quarter valued at approximately $32,000. Finally, Decker Retirement Planning Inc. increased its holdings in shares of Marathon Petroleum by 1,621.4% during the 1st quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 227 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on MPC. Bank of America boosted their price target on shares of Marathon Petroleum from $184.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, September 3rd. Barclays lifted their target price on shares of Marathon Petroleum from $176.00 to $194.00 and gave the stock an “overweight” rating in a research note on Monday, October 13th. Scotiabank reissued an “outperform” rating on shares of Marathon Petroleum in a research report on Thursday, October 9th. TD Cowen reduced their price objective 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. Finally, Raymond James Financial restated an “outperform” rating and issued a $203.00 price objective (up from $199.00) on shares of Marathon Petroleum in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and an average price target of $200.31.

Insider Buying and Selling at Marathon Petroleum

In related 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 transaction of $1,773,277.00. Following the sale, the insider directly owned 28,700 shares in the company, valued at approximately $4,678,100. This represents 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 the SEC website. Insiders own 0.25% of the company’s stock.

Marathon Petroleum Stock Up 1.7%

Shares of NYSE:MPC opened at $184.14 on Monday. 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 $55.98 billion, a PE ratio of 27.32, a price-to-earnings-growth ratio of 2.87 and a beta of 0.90. The firm’s 50-day moving average is $180.61 and its two-hundred day moving average is $165.13. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year 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. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The firm had revenue of $34.10 billion for the quarter, compared to analyst estimates of $31.70 billion. During the same period in the prior year, the firm earned $4.12 earnings per share. The business’s quarterly revenue was down 11.1% compared to the same quarter last year. Analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio is presently 54.01%.

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.