HBK Sorce Advisory LLC Has $695,000 Stock Holdings in Marathon Petroleum Corporation $MPC

HBK Sorce Advisory LLC grew its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 11.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,183 shares of the oil and gas company’s stock after purchasing an additional 439 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Marathon Petroleum were worth $695,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in MPC. Vanguard Group Inc. lifted its stake in shares of Marathon Petroleum by 12.3% in the 1st quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company’s stock valued at $5,090,611,000 after purchasing an additional 3,834,501 shares during the period. Boston Partners lifted its stake in shares of Marathon Petroleum by 58.5% in the 1st quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company’s stock valued at $791,274,000 after purchasing an additional 2,011,810 shares during the period. Wellington Management Group LLP lifted its stake in shares of Marathon Petroleum by 18.7% in the 1st quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock valued at $1,722,664,000 after purchasing an additional 1,862,674 shares during the period. Nuveen LLC acquired a new position in shares of Marathon Petroleum in the 1st quarter valued at about $147,122,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Marathon Petroleum by 26.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,675,362 shares of the oil and gas company’s stock valued at $535,465,000 after purchasing an additional 769,015 shares during the period. 76.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on MPC. Barclays upped their price target on Marathon Petroleum from $176.00 to $194.00 and gave the stock an “overweight” rating in a research note on Monday, October 13th. Piper Sandler upped their price target on Marathon Petroleum from $184.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, September 11th. Raymond James Financial reaffirmed an “outperform” rating and set a $203.00 price target (up from $199.00) on shares of Marathon Petroleum in a research note on Friday, October 17th. Evercore ISI upped their price target on Marathon Petroleum from $170.00 to $210.00 and gave the stock an “in-line” rating in a research note on Friday, September 19th. Finally, TD Cowen dropped their price target on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $200.31.

Marathon Petroleum Stock Performance

Shares of MPC opened at $195.01 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 stock has a 50 day moving average price of $186.45 and a two-hundred day moving average price of $169.63. The firm has a market capitalization of $59.29 billion, a P/E ratio of 28.93, a P/E/G ratio of 4.09 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.

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 firm had revenue of $34.10 billion during the quarter, compared to analyst estimates of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The company’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $4.12 EPS. Equities analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 19th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $4.00 dividend on an annualized basis and a yield of 2.1%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s dividend payout ratio is presently 54.01%.

Insider Buying and Selling

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

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.