Silverlake Wealth Management LLC Invests $375,000 in Marathon Petroleum Corporation $MPC

Silverlake Wealth Management LLC purchased a new position in Marathon Petroleum Corporation (NYSE:MPC) during the 2nd quarter, Holdings Channel reports. The fund purchased 1,466 shares of the oil and gas company’s stock, valued at approximately $375,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MPC. State Street Corp grew its stake in Marathon Petroleum by 0.3% in the 4th quarter. State Street Corp now owns 17,934,327 shares of the oil and gas company’s stock worth $2,916,660,000 after acquiring an additional 47,896 shares in the last quarter. Boston Partners raised its stake 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 in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Marathon Petroleum during the second quarter valued at approximately $1,029,611,000. Norges Bank purchased a new stake in shares of Marathon Petroleum in the fourth quarter valued at approximately $472,312,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Marathon Petroleum by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,818,361 shares of the oil and gas company’s stock valued at $458,350,000 after purchasing an additional 11,693 shares during the period. Institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on MPC shares. Wells Fargo & Company raised their price objective on Marathon Petroleum from $344.00 to $359.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Citigroup upped their target price on Marathon Petroleum from $303.00 to $318.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Evercore set a $330.00 target price on Marathon Petroleum in a report on Wednesday, August 5th. Scotiabank increased their price target on Marathon Petroleum from $174.00 to $210.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 22nd. Finally, The Goldman Sachs Group raised their price target on Marathon Petroleum from $291.00 to $376.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $312.50.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $355.61 on Friday. The firm has a market cap of $103.82 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 0.23 and a beta of 0.52. The company’s 50 day moving average is $287.31 and its 200 day moving average is $247.66. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. Marathon Petroleum Corporation has a 52-week low of $160.87 and a 52-week high of $360.10.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, topping analysts’ consensus estimates of $14.27 by $3.46. The company had revenue of $51.99 billion during the quarter, compared to the consensus estimate of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. Marathon Petroleum’s revenue for the quarter was up 53.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.96 earnings per share. On average, sell-side analysts anticipate that Marathon Petroleum Corporation will post 46.66 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 19th. Marathon Petroleum’s payout ratio is presently 13.75%.

Insider Activity at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of the company’s stock in a transaction 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 sale, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. This represents a 27.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.17% of the company’s stock.

Marathon Petroleum 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.