AdvisorShares Investments LLC Increases Holdings in Marathon Petroleum Corporation $MPC

AdvisorShares Investments LLC boosted its stake in Marathon Petroleum Corporation (NYSE:MPC) by 2.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,828 shares of the oil and gas company’s stock after purchasing an additional 66 shares during the quarter. AdvisorShares Investments LLC’s holdings in Marathon Petroleum were worth $470,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Baker Tilly Wealth Management LLC lifted its stake in Marathon Petroleum by 2.8% in the 2nd quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company’s stock worth $370,000 after purchasing an additional 60 shares in the last quarter. CHICAGO TRUST Co NA raised its position in shares of Marathon Petroleum by 3.9% during the 2nd quarter. CHICAGO TRUST Co NA now owns 1,684 shares of the oil and gas company’s stock valued at $280,000 after buying an additional 63 shares in the last quarter. Werba Rubin Papier Wealth Management raised its position in shares of Marathon Petroleum by 4.2% during the 2nd quarter. Werba Rubin Papier Wealth Management now owns 1,577 shares of the oil and gas company’s stock valued at $262,000 after buying an additional 64 shares in the last quarter. Sunpointe LLC raised its position in shares of Marathon Petroleum by 4.1% during the 2nd quarter. Sunpointe LLC now owns 1,750 shares of the oil and gas company’s stock valued at $291,000 after buying an additional 69 shares in the last quarter. Finally, Wallace Advisory Group LLC increased its stake in Marathon Petroleum by 3.4% during the second quarter. Wallace Advisory Group LLC now owns 2,258 shares of the oil and gas company’s stock worth $375,000 after acquiring an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Down 0.1%

Shares of NYSE MPC opened at $195.64 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. The firm has a market capitalization of $59.48 billion, a price-to-earnings ratio of 29.03, a PEG ratio of 4.10 and a beta of 0.90. The stock has a 50 day moving average price of $185.96 and a 200 day moving average price of $169.14. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-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 (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The firm had revenue of $34.10 billion during the quarter, compared to analyst estimates of $31.70 billion. During the same quarter in the previous year, the business earned $4.12 earnings per share. Marathon Petroleum’s quarterly revenue was down 11.1% on a year-over-year basis. Sell-side analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 19th will be paid a dividend of $1.00 per share. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.91. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Wednesday, November 19th. Marathon Petroleum’s payout ratio is 54.01%.

Insider Activity

In other news, insider Molly R. Benson sold 10,879 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the transaction, the insider directly owned 28,700 shares in the company, valued at approximately $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on MPC shares. Citigroup boosted their price objective on Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. BMO Capital Markets boosted their price objective on Marathon Petroleum from $195.00 to $208.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Raymond James Financial reissued an “outperform” rating and set a $203.00 price objective (up from $199.00) on shares of Marathon Petroleum in a research note on Friday, October 17th. Morgan Stanley increased their price objective on shares of Marathon Petroleum from $182.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, October 3rd. Finally, Wolfe Research lowered shares of Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $200.31.

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.