Wealthfront Advisers LLC Has $16.52 Million Stake in Marathon Petroleum Corporation $MPC

Wealthfront Advisers LLC boosted its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 5.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 99,425 shares of the oil and gas company’s stock after buying an additional 5,273 shares during the period. Wealthfront Advisers LLC’s holdings in Marathon Petroleum were worth $16,515,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MPC. Activest Wealth Management grew its stake in Marathon Petroleum by 290.2% during the second quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock worth $27,000 after buying an additional 119 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its stake in Marathon Petroleum by 1,546.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock worth $31,000 after buying an additional 201 shares in the last quarter. Hughes Financial Services LLC acquired a new stake in Marathon Petroleum during the first quarter worth about $32,000. WPG Advisers LLC acquired a new stake in Marathon Petroleum during the first quarter worth about $32,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new stake in Marathon Petroleum during the first quarter worth about $35,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Trading Up 0.1%

Shares of NYSE MPC opened at $196.17 on Monday. 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 52-week low of $115.10 and a 52-week high of $201.61. The firm has a 50 day moving average price of $183.52 and a two-hundred day moving average price of $167.50. The stock has a market cap of $59.64 billion, a P/E ratio of 29.10, a price-to-earnings-growth ratio of 4.11 and a beta of 0.90.

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 (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The firm had revenue of $34.10 billion during the quarter, compared to analysts’ expectations of $31.70 billion. During the same period in the prior year, the company posted $4.12 EPS. The company’s revenue was down 11.1% on a year-over-year basis. As a group, equities analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

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

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the company’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 directly owned 28,700 shares in the company, valued at approximately $4,678,100. This represents a 27.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MPC. BMO Capital Markets upped their price objective on shares of Marathon Petroleum from $195.00 to $208.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Citigroup boosted their target price 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. Wells Fargo & Company began coverage on Marathon Petroleum in a research note on Friday, October 17th. They issued an “overweight” rating and a $214.00 price target for the company. Dbs Bank raised Marathon Petroleum to a “moderate buy” rating in a report on Monday, July 28th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Marathon Petroleum in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus target price of $200.31.

About Marathon Petroleum

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.