Marathon Petroleum Corporation $MPC Shares Bought by Turn8 Private Wealth Inc.

Turn8 Private Wealth Inc. lifted its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 12.2% during the first quarter, Holdings Channel reports. The fund owned 23,314 shares of the oil and gas company’s stock after purchasing an additional 2,535 shares during the quarter. Marathon Petroleum accounts for 3.6% of Turn8 Private Wealth Inc.’s investment portfolio, making the stock its 7th largest holding. Turn8 Private Wealth Inc.’s holdings in Marathon Petroleum were worth $5,693,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Navalign LLC purchased a new position in shares of Marathon Petroleum during the 4th quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Marathon Petroleum in the fourth quarter worth $31,000. KERR FINANCIAL PLANNING Corp acquired a new stake in Marathon Petroleum in the third quarter valued at $39,000. WFA of San Diego LLC acquired a new stake in Marathon Petroleum in the second quarter valued at $33,000. Finally, Berbice Capital Management LLC boosted its stake in Marathon Petroleum by 100.0% during the 4th quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MPC. UBS Group set a $285.00 price objective on shares of Marathon Petroleum in a report on Wednesday, May 6th. Raymond James Financial increased their price target on shares of Marathon Petroleum from $285.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 10th. Jefferies Financial Group lifted their price target on Marathon Petroleum from $279.00 to $296.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Zacks Research cut Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 17th. Finally, The Goldman Sachs Group increased their target price on Marathon Petroleum from $264.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $272.62.

Marathon Petroleum Stock Up 0.1%

Shares of NYSE:MPC opened at $266.50 on Friday. The stock has a market capitalization of $77.80 billion, a price-to-earnings ratio of 17.40, a price-to-earnings-growth ratio of 0.39 and a beta of 0.52. Marathon Petroleum Corporation has a 1-year low of $158.00 and a 1-year high of $272.46. The company’s fifty day moving average is $252.10 and its two-hundred day moving average is $218.93. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, beating the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The business had revenue of $34.20 billion during the quarter, compared to analyst estimates of $33.42 billion. During the same period in the previous year, the business posted ($0.24) EPS. The company’s quarterly revenue was up 8.5% on a year-over-year basis. Equities analysts anticipate that Marathon Petroleum Corporation will post 32.96 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Wednesday, May 20th. Marathon Petroleum’s payout ratio is presently 26.11%.

Insider Buying and Selling

In other news, VP Michael A. Henschen II sold 6,336 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the transaction, the vice president directly owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. This represents a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.17% of the stock is currently owned by insiders.

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.