Mission Wealth Management LP Buys 2,708 Shares of Marathon Petroleum Corp (NYSE:MPC)
Mission Wealth Management LP increased its stake in shares of Marathon Petroleum Corp (NYSE:MPC) by 77.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,208 shares of the oil and gas company’s stock after buying an additional 2,708 shares during the quarter. Mission Wealth Management LP’s holdings in Marathon Petroleum were worth $372,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Hanson McClain Inc. bought a new position in Marathon Petroleum in the 4th quarter valued at $25,000. Alpha Omega Wealth Management LLC grew its stake in Marathon Petroleum by 135.1% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 435 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 250 shares during the period. Berman Capital Advisors LLC bought a new position in Marathon Petroleum in the 4th quarter valued at $30,000. Claybrook Capital LLC bought a new position in Marathon Petroleum in the 4th quarter valued at $30,000. Finally, Bay Harbor Wealth Management LLC bought a new position in Marathon Petroleum in the 1st quarter valued at $31,000. Institutional investors and hedge funds own 77.57% of the company’s stock.
In other news, Director James E. Rohr purchased 12,500 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were purchased at an average price of $48.14 per share, with a total value of $601,750.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Donald C. Templin purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were purchased at an average cost of $50.74 per share, for a total transaction of $253,700.00. Following the transaction, the insider now directly owns 93,182 shares in the company, valued at $4,728,054.68. The disclosure for this purchase can be found here. 1.06% of the stock is owned by corporate insiders.
Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Wednesday, May 8th. The oil and gas company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.10). Marathon Petroleum had a net margin of 2.56% and a return on equity of 11.10%. The firm had revenue of $28.62 billion for the quarter, compared to analysts’ expectations of $27.70 billion. During the same period in the prior year, the company earned $0.08 EPS. The firm’s quarterly revenue was up 50.7% on a year-over-year basis. As a group, research analysts expect that Marathon Petroleum Corp will post 4.67 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Thursday, May 16th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.42%. Marathon Petroleum’s dividend payout ratio is presently 31.27%.
A number of brokerages have issued reports on MPC. Raymond James reduced their price objective on Marathon Petroleum from $90.00 to $85.00 and set a “strong-buy” rating for the company in a research note on Wednesday, April 10th. Citigroup reduced their price objective on Marathon Petroleum from $91.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, March 4th. ValuEngine downgraded Marathon Petroleum from a “hold” rating to a “sell” rating in a research note on Tuesday, March 5th. Morgan Stanley reduced their price objective on Marathon Petroleum from $85.00 to $82.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. Finally, Cowen restated an “outperform” rating and issued a $90.00 price objective (down previously from $101.00) on shares of Marathon Petroleum in a research note on Monday, May 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $85.68.
Marathon Petroleum Profile
Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.
Featured Article: What is channel trading?
Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Corp (NYSE:MPC).
Receive News & Ratings for Marathon Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.