Liberty Wealth Management LLC Makes New Investment in Marathon Petroleum Corporation $MPC

Liberty Wealth Management LLC purchased a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,298 shares of the oil and gas company’s stock, valued at approximately $216,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Marathon Petroleum by 12.3% in the 1st quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company’s stock valued at $5,090,611,000 after purchasing an additional 3,834,501 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Marathon Petroleum by 18.7% in the first quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock valued at $1,722,664,000 after acquiring an additional 1,862,674 shares during the last quarter. Raymond James Financial Inc. lifted its holdings in Marathon Petroleum by 6.3% in the first quarter. Raymond James Financial Inc. now owns 6,037,532 shares of the oil and gas company’s stock valued at $879,608,000 after acquiring an additional 355,215 shares during the last quarter. Boston Partners lifted its holdings in Marathon Petroleum by 58.5% in the first quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company’s stock valued at $791,274,000 after acquiring an additional 2,011,810 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Marathon Petroleum by 3.7% in the 1st quarter. Bank of New York Mellon Corp now owns 4,982,348 shares of the oil and gas company’s stock valued at $725,878,000 after purchasing an additional 178,397 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

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 shares were 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 in the company, valued at approximately $4,678,100. This trade represents a 27.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.25% of the company’s stock.

Marathon Petroleum Stock Down 0.0%

Shares of NYSE MPC opened at $196.13 on Tuesday. The stock has a market cap of $59.63 billion, a P/E ratio of 29.10, a PEG ratio of 4.11 and a beta of 0.90. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $201.61. The business’s fifty day simple moving average is $184.19 and its 200-day simple moving average is $167.95.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 8.38% and a net margin of 1.58%.Marathon Petroleum’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same quarter last year, the company earned $4.12 EPS. As a group, equities analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal 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 issued a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.64 annualized dividend and a yield of 1.9%. Marathon Petroleum’s dividend payout ratio (DPR) is 54.01%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MPC shares. Wells Fargo & Company started coverage on Marathon Petroleum in a research note on Friday, October 17th. They issued an “overweight” rating and a $214.00 price target on the stock. Bank of America upped their target price 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. Citigroup upped their price objective on shares of Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. TD Cowen decreased 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, Piper Sandler upped their price target on Marathon Petroleum from $184.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $200.31.

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.