Spire Wealth Management Boosts Stake in Marathon Petroleum Corporation $MPC

Spire Wealth Management grew its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 320.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 9,613 shares of the oil and gas company’s stock after buying an additional 7,325 shares during the quarter. Spire Wealth Management’s holdings in Marathon Petroleum were worth $1,563,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Boston Partners increased its position in shares of Marathon Petroleum by 2.3% during the third quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company’s stock valued at $1,214,522,000 after acquiring an additional 141,691 shares during the last quarter. Legal & General Group Plc boosted its position in Marathon Petroleum by 2.0% in the third quarter. Legal & General Group Plc now owns 1,861,020 shares of the oil and gas company’s stock worth $358,693,000 after purchasing an additional 35,847 shares during the last quarter. Amundi grew its stake in Marathon Petroleum by 11.8% in the 3rd quarter. Amundi now owns 1,626,862 shares of the oil and gas company’s stock valued at $314,830,000 after purchasing an additional 172,172 shares during the period. Panagora Asset Management Inc. increased its position in shares of Marathon Petroleum by 217.8% during the 2nd quarter. Panagora Asset Management Inc. now owns 883,763 shares of the oil and gas company’s stock valued at $146,802,000 after purchasing an additional 605,705 shares during the last quarter. Finally, National Pension Service increased its position in shares of Marathon Petroleum by 1.7% during the 3rd quarter. National Pension Service now owns 849,268 shares of the oil and gas company’s stock valued at $163,688,000 after purchasing an additional 14,308 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Down 2.6%

Shares of MPC opened at $245.28 on Tuesday. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $255.77. The business has a 50-day moving average of $207.07 and a 200 day moving average of $192.87. The firm has a market cap of $72.23 billion, a P/E ratio of 18.37, a price-to-earnings-growth ratio of 0.53 and a beta of 0.69. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.74 and a current ratio of 1.26.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, February 3rd. The oil and gas company reported $4.07 EPS for the quarter, beating the consensus estimate of $3.73 by $0.34. The business had revenue of $32.57 billion for the quarter, compared to the consensus estimate of $30.89 billion. Marathon Petroleum had a net margin of 2.99% and a return on equity of 13.90%. The company’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.77 earnings per share. As a group, research 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 Tuesday, March 10th. Investors of record on Wednesday, February 18th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Wednesday, February 18th. Marathon Petroleum’s dividend payout ratio is presently 29.96%.

Insider Buying and Selling

In related news, insider Ricky D. Hessling sold 1,810 shares of Marathon Petroleum stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $224.78, for a total value of $406,851.80. Following the completion of the transaction, the insider directly owned 10,188 shares in the company, valued at approximately $2,290,058.64. The trade was a 15.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 4,473 shares of company stock valued at $1,015,428. 0.17% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of Marathon Petroleum from $211.00 to $239.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. Wells Fargo & Company raised their price objective on shares of Marathon Petroleum from $213.00 to $217.00 and gave the stock an “overweight” rating in a report on Wednesday, February 4th. Piper Sandler dropped their target price on shares of Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Weiss Ratings downgraded shares of Marathon Petroleum from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, March 19th. Finally, Citigroup raised their price target on shares of Marathon Petroleum from $182.00 to $210.00 and gave the stock a “neutral” rating in a research note on Monday, February 9th. Ten research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $209.19.

Marathon Petroleum Company Profile

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.