Leuthold Group LLC acquired a new position in Marathon Petroleum Corporation (NYSE:MPC – Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 22,707 shares of the oil and gas company’s stock, valued at approximately $8,979,000.
A number of other large investors have also recently made changes to their positions in the business. Solstein Capital LLC purchased a new position in Marathon Petroleum in the second quarter worth about $26,000. Caitlin John LLC bought a new stake in Marathon Petroleum during the second quarter worth approximately $26,000. Bell Investment Advisors Inc purchased a new stake in Marathon Petroleum during the second quarter valued at approximately $27,000. Main Street Group LTD purchased a new stake in Marathon Petroleum during the first quarter valued at approximately $35,000. Finally, Cetera Trust Company N.A bought a new stake in shares of Marathon Petroleum in the 2nd quarter valued at approximately $35,000. 76.77% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of brokerages have recently commented on MPC. Raymond James Financial lifted their target price on Marathon Petroleum from $350.00 to $445.00 and gave the stock an “outperform” rating in a report on Monday, September 14th. Piper Sandler increased their price target on Marathon Petroleum from $462.00 to $466.00 and gave the company an “overweight” rating in a report on Thursday, November 5th. Barclays raised their price target on Marathon Petroleum from $321.00 to $488.00 and gave the stock an “overweight” rating in a research report on Monday, October 12th. Wells Fargo & Company lifted their price objective on shares of Marathon Petroleum from $560.00 to $564.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 4th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $433.00 price objective on shares of Marathon Petroleum in a research report on Sunday, October 11th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $425.12.
Read Our Latest Stock Report on Marathon Petroleum
Insider Activity at Marathon Petroleum
In related news, VP Erin M. Brzezinski sold 570 shares of the business’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total transaction of $206,790.30. Following the completion of the transaction, the vice president owned 1,576 shares in the company, valued at $571,757.04. The trade was a 26.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Molly Benson sold 17,196 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $358.57, for a total value of $6,165,969.72. Following the completion of the transaction, the insider directly owned 30,334 shares in the company, valued at $10,876,862.38. This trade represents a 36.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 21,691 shares of company stock worth $7,780,127 in the last quarter. 0.17% of the stock is owned by company insiders.
Marathon Petroleum Stock Up 4.6%
Shares of NYSE MPC opened at $389.91 on Tuesday. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.45 and a quick ratio of 0.89. The company has a market cap of $106.16 billion, a P/E ratio of 13.40, a PEG ratio of 0.10 and a beta of 0.53. Marathon Petroleum Corporation has a 1 year low of $161.93 and a 1 year high of $493.98. The firm has a 50-day simple moving average of $422.11 and a two-hundred day simple moving average of $296.41.
Marathon Petroleum (NYSE:MPC – Get Free Report) last announced its earnings results on Tuesday, November 3rd. The oil and gas company reported $26.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $25.37 by $1.56. The business had revenue of $56.03 billion during the quarter, compared to analyst estimates of $46.60 billion. Marathon Petroleum had a return on equity of 55.82% and a net margin of 8.27%. The company’s revenue for the quarter was up 57.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.01 earnings per share. Research analysts anticipate that Marathon Petroleum Corporation will post 66.31 earnings per share for the current year.
Marathon Petroleum Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, November 18th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 13.75%.
About Marathon Petroleum
Marathon Petroleum Corporation is an integrated downstream energy company focused on refining, marketing, and transporting petroleum products. Its refineries produce fuels and other products, including gasoline, diesel, jet fuel, asphalt, and petrochemical feedstocks.
The company sells transportation fuels and related products through a network of branded locations and other wholesale and commercial channels, primarily in the United States. Its midstream operations, conducted largely through its affiliated partnership MPLX, include gathering, processing, and transporting natural gas and natural gas liquids, as well as storing and transporting crude oil and refined products.
Marathon Petroleum was established as an independent company in 2011, when it was spun off from Marathon Oil Corporation.
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