2,268 Shares in Marathon Petroleum Corporation $MPC Bought by Independent Financial Group LLC

Independent Financial Group LLC bought a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,268 shares of the oil and gas company’s stock, valued at approximately $554,000.

A number of other hedge funds also recently bought and sold shares of MPC. Cedar Mountain Advisors LLC bought a new position in shares of Marathon Petroleum in the first quarter worth about $40,000. Navalign LLC bought a new stake in Marathon Petroleum during the 4th quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in Marathon Petroleum during the 4th quarter valued at approximately $31,000. Berbice Capital Management LLC grew its holdings in Marathon Petroleum by 100.0% in the 4th quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 100 shares during the last quarter. Finally, Sawyer & Company Inc bought a new position in Marathon Petroleum in the 1st quarter worth approximately $49,000. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Price Performance

Shares of MPC stock opened at $316.17 on Thursday. The stock has a 50 day moving average of $266.31 and a two-hundred day moving average of $231.05. The company has a current ratio of 1.18, a quick ratio of 0.73 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a 12 month low of $158.00 and a 12 month high of $326.92. The company has a market capitalization of $92.30 billion, a P/E ratio of 20.64, a P/E/G ratio of 0.43 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.91. The business had revenue of $34.20 billion for the quarter, compared to analysts’ expectations of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.Marathon Petroleum’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.24) earnings per share. As a group, equities analysts expect that Marathon Petroleum Corporation will post 35.82 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were paid a dividend of $1.00 per share. The ex-dividend date was Wednesday, May 20th. This represents a $4.00 dividend on an annualized basis and a yield of 1.3%. Marathon Petroleum’s payout ratio is currently 26.11%.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total value of $1,703,243.52. Following the sale, the vice president owned 16,900 shares of the company’s stock, valued at $4,543,058. The trade was a 27.27% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.17% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MPC shares. Piper Sandler upped their price target on Marathon Petroleum from $197.00 to $228.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Mizuho raised their price objective on shares of Marathon Petroleum from $224.00 to $284.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. Raymond James Financial boosted their target price on shares of Marathon Petroleum from $300.00 to $335.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Citigroup increased their price target on shares of Marathon Petroleum from $257.00 to $303.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, June 12th. Ten research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $291.50.

About Marathon Petroleum

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.