Marathon Petroleum Corporation $MPC Holdings Boosted by NorthRock Partners LLC

NorthRock Partners LLC boosted its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 15.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,788 shares of the oil and gas company’s stock after purchasing an additional 1,018 shares during the period. NorthRock Partners LLC’s holdings in Marathon Petroleum were worth $1,294,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MPC. Brighton Jones LLC grew its position in Marathon Petroleum by 30.9% during the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock worth $696,000 after purchasing an additional 1,178 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Marathon Petroleum by 3.4% during the 1st quarter. GAMMA Investing LLC now owns 10,577 shares of the oil and gas company’s stock valued at $1,541,000 after acquiring an additional 351 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Marathon Petroleum by 2.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 110,599 shares of the oil and gas company’s stock valued at $16,113,000 after acquiring an additional 2,539 shares in the last quarter. Brown Miller Wealth Management LLC purchased a new position in shares of Marathon Petroleum during the 1st quarter valued at $382,000. Finally, Northstar Group Inc. purchased a new position in shares of Marathon Petroleum during the 1st quarter valued at $221,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MPC. Wells Fargo & Company boosted their price target on shares of Marathon Petroleum from $182.00 to $205.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Barclays boosted their price target on shares of Marathon Petroleum from $176.00 to $194.00 and gave the company an “overweight” rating in a report on Monday. Piper Sandler boosted their price target on shares of Marathon Petroleum from $184.00 to $222.00 and gave the company a “neutral” rating in a report on Thursday, September 11th. BMO Capital Markets boosted their price target on shares of Marathon Petroleum from $195.00 to $208.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Finally, Morgan Stanley lifted their price objective on shares of Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, October 3rd. Eight analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $199.31.

Marathon Petroleum Stock Up 1.4%

MPC stock opened at $183.36 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $201.61. The company has a fifty day simple moving average of $179.03 and a 200 day simple moving average of $163.99. The firm has a market cap of $55.75 billion, a PE ratio of 27.20, a PEG ratio of 3.04 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $0.74. The firm had revenue of $34.10 billion during the quarter, compared to analyst estimates of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The business’s revenue was down 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.12 EPS. Sell-side analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a yield of 2.0%. Marathon Petroleum’s payout ratio is currently 54.01%.

Insiders Place Their Bets

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the business’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the transaction, the insider owned 28,700 shares of the company’s stock, valued at $4,678,100. The trade was a 27.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is currently owned by corporate insiders.

Marathon Petroleum Profile

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.