Marathon Petroleum Corporation $MPC Stock: Ritholtz Wealth Management Raises Stake

Ritholtz Wealth Management raised its position in Marathon Petroleum Corporation (NYSE:MPC) by 37.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,747 shares of the oil and gas company’s stock after purchasing an additional 8,170 shares during the quarter. Ritholtz Wealth Management’s holdings in Marathon Petroleum were worth $11,763,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vontobel Holding Ltd. grew its stake in Marathon Petroleum by 23.2% in the third quarter. Vontobel Holding Ltd. now owns 14,025 shares of the oil and gas company’s stock worth $5,546,000 after purchasing an additional 2,637 shares in the last quarter. Energy Income Partners LLC purchased a new position in Marathon Petroleum during the 2nd quarter worth $4,912,000. Evolve Private Wealth LLC bought a new stake in Marathon Petroleum during the 2nd quarter valued at $673,000. Railway Pension Investments Ltd bought a new stake in Marathon Petroleum during the 2nd quarter valued at $3,886,000. Finally, Sax Wealth Advisors LLC raised its position in Marathon Petroleum by 471.0% during the 3rd quarter. Sax Wealth Advisors LLC now owns 18,705 shares of the oil and gas company’s stock valued at $7,396,000 after purchasing an additional 15,429 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Up 3.4%

Shares of NYSE MPC opened at $402.73 on Thursday. Marathon Petroleum Corporation has a 12-month low of $161.93 and a 12-month high of $493.98. The stock’s fifty day simple moving average is $422.83 and its two-hundred day simple moving average is $298.62. The stock has a market capitalization of $109.65 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 0.10 and a beta of 0.53. The company has a current ratio of 1.45, a quick ratio of 1.09 and a debt-to-equity ratio of 1.10.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, November 3rd. The oil and gas company reported $26.93 EPS for the quarter, topping the consensus estimate of $25.37 by $1.56. The firm had revenue of $56.03 billion during the quarter, compared to analyst estimates of $46.60 billion. Marathon Petroleum had a return on equity of 55.82% and a net margin of 8.27%. The business’s revenue for the quarter was up 57.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.01 EPS. As a group, analysts expect that Marathon Petroleum Corporation will post 66.31 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, November 18th. Marathon Petroleum’s payout ratio is 13.75%.

Wall Street Analysts Forecast Growth

MPC has been the subject of several research reports. Evercore set a $330.00 target price on Marathon Petroleum in a report on Wednesday, August 5th. Raymond James Financial raised their price target on Marathon Petroleum from $350.00 to $445.00 and gave the company an “outperform” rating in a research note on Monday, September 14th. Jefferies Financial Group restated a “hold” rating and issued a $433.00 price objective on shares of Marathon Petroleum in a report on Sunday, October 11th. Bank of America upped their price objective on shares of Marathon Petroleum from $410.00 to $426.00 and gave the stock a “neutral” rating in a research note on Friday, October 2nd. Finally, The Goldman Sachs Group increased their target price on shares of Marathon Petroleum from $376.00 to $472.00 and gave the stock a “buy” rating in a report on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $425.12.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, VP Erin M. Brzezinski sold 570 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $362.79, for a total value of $206,790.30. Following the completion of the transaction, the vice president directly owned 1,576 shares in the company, valued at approximately $571,757.04. The trade was a 26.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Molly Benson sold 17,196 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $358.57, for a total transaction of $6,165,969.72. Following the sale, the insider directly owned 30,334 shares of the company’s stock, valued at approximately $10,876,862.38. The trade was a 36.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 19,191 shares of company stock worth $6,905,127 over the last quarter. Insiders own 0.17% of the company’s stock.

About Marathon Petroleum

Marathon Petroleum Corporation is an integrated downstream energy company focused on refining, marketing, and transporting petroleum products. Its refineries produce fuels and other products, including gasoline, diesel, jet fuel, asphalt, and petrochemical feedstocks. The company sells transportation fuels and related products through a network of branded locations and other wholesale and commercial channels, primarily in the United States. Its midstream operations, conducted largely through its affiliated partnership MPLX, include gathering, processing, and transporting natural gas and natural gas liquids, as well as storing and transporting crude oil and refined products.