SteelPeak Wealth LLC Raises Position in Marathon Petroleum Corporation $MPC

SteelPeak Wealth LLC grew its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 94.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,639 shares of the oil and gas company’s stock after purchasing an additional 11,947 shares during the period. SteelPeak Wealth LLC’s holdings in Marathon Petroleum were worth $4,093,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CBIZ Investment Advisory Services LLC lifted its holdings in shares of 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 valued at $31,000 after purchasing an additional 201 shares during the last quarter. Hughes Financial Services LLC purchased a new stake in shares of Marathon Petroleum during the 1st quarter valued at $32,000. WPG Advisers LLC purchased a new stake in shares of Marathon Petroleum during the 1st quarter valued at $32,000. Decker Retirement Planning Inc. lifted 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 during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Marathon Petroleum during the 1st quarter valued at $35,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

Shares of MPC opened at $193.34 on Tuesday. The business’s 50-day moving average is $177.39 and its two-hundred day moving average is $162.63. The company has a market capitalization of $58.78 billion, a P/E ratio of 28.69, a P/E/G ratio of 3.35 and a beta of 0.90. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $201.61.

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, topping the consensus estimate of $3.22 by $0.74. The company had revenue of $34.10 billion for the quarter, compared to the consensus estimate of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The firm’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same period last year, the firm earned $4.12 EPS. Research analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 54.01%.

Insiders Place Their Bets

In related news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction dated 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. The trade was a 27.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MPC shares. Bank of America raised their target price on Marathon Petroleum from $184.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 3rd. Mizuho raised their target price on Marathon Petroleum from $184.00 to $188.00 and gave the stock a “neutral” rating in a research note on Monday, September 15th. Dbs Bank upgraded Marathon Petroleum to a “moderate buy” rating in a research note on Monday, July 28th. BMO Capital Markets raised their target price on Marathon Petroleum from $195.00 to $208.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Finally, Piper Sandler raised their target price on Marathon Petroleum from $184.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, September 11th. Eight analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $196.29.

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.