Fifth Third Wealth Advisors LLC Grows Stake in Marathon Petroleum Corporation $MPC

Fifth Third Wealth Advisors LLC increased its stake in Marathon Petroleum Corporation (NYSE:MPC) by 4.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,465 shares of the oil and gas company’s stock after acquiring an additional 470 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Marathon Petroleum were worth $1,738,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC grew its position in Marathon Petroleum by 1,546.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 201 shares in the last quarter. Hughes Financial Services LLC bought a new stake in Marathon Petroleum in the first quarter worth about $32,000. WPG Advisers LLC bought a new stake in Marathon Petroleum in the first quarter worth about $32,000. Decker Retirement Planning Inc. lifted its stake in Marathon Petroleum by 1,621.4% in the first quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 227 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in Marathon Petroleum in the first quarter worth about $35,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MPC. Scotiabank reissued an “outperform” rating on shares of Marathon Petroleum in a research note on Thursday. BMO Capital Markets raised their price objective on shares of Marathon Petroleum from $195.00 to $208.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Citigroup raised their price objective on shares of Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. Dbs Bank raised shares of Marathon Petroleum to a “moderate buy” rating in a research note on Monday, July 28th. Finally, TD Cowen decreased their price target on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Eight investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.92.

Marathon Petroleum Stock Performance

Shares of NYSE:MPC opened at $181.08 on Friday. The company has a market capitalization of $55.05 billion, a price-to-earnings ratio of 26.87, a price-to-earnings-growth ratio of 3.04 and a beta of 0.90. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $201.61. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. The firm has a 50 day moving average of $178.73 and a 200 day moving average of $163.60.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.74. The company had revenue of $34.10 billion during the quarter, compared to the consensus estimate of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. Marathon Petroleum’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.12 earnings per share. On average, sell-side analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

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

Insider Buying and Selling

In related news, insider Molly R. Benson sold 10,879 shares of the business’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 value of $1,773,277.00. Following the completion of the transaction, the insider owned 28,700 shares of the company’s stock, valued at $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.21% of the stock is owned by company insiders.

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.