Madison Wealth Partners Inc Invests $205,000 in Marathon Petroleum Corporation $MPC

Madison Wealth Partners Inc bought a new position in Marathon Petroleum Corporation (NYSE:MPC) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,234 shares of the oil and gas company’s stock, valued at approximately $205,000.

Several other large investors have also recently made changes to their positions in the company. Calamos Wealth Management LLC increased its holdings in shares of Marathon Petroleum by 17.5% in the second quarter. Calamos Wealth Management LLC now owns 5,472 shares of the oil and gas company’s stock worth $909,000 after purchasing an additional 814 shares during the last quarter. Cidel Asset Management Inc. increased its holdings in shares of Marathon Petroleum by 6.9% in the second quarter. Cidel Asset Management Inc. now owns 8,099 shares of the oil and gas company’s stock worth $1,345,000 after purchasing an additional 522 shares during the last quarter. Salomon & Ludwin LLC increased its holdings in shares of Marathon Petroleum by 35.4% in the second quarter. Salomon & Ludwin LLC now owns 967 shares of the oil and gas company’s stock worth $169,000 after purchasing an additional 253 shares during the last quarter. Chicago Partners Investment Group LLC increased its holdings in shares of Marathon Petroleum by 1.9% in the second quarter. Chicago Partners Investment Group LLC now owns 14,668 shares of the oil and gas company’s stock worth $2,604,000 after purchasing an additional 267 shares during the last quarter. Finally, BKM Wealth Management LLC increased its holdings in shares of Marathon Petroleum by 1.2% in the second quarter. BKM Wealth Management LLC now owns 6,853 shares of the oil and gas company’s stock worth $1,138,000 after purchasing an additional 78 shares during the last quarter. 76.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on MPC shares. Wolfe Research cut Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 14th. Raymond James Financial reissued an “outperform” rating and set a $203.00 price objective (up from $199.00) on shares of Marathon Petroleum in a research note on Friday. Scotiabank restated an “outperform” rating on shares of Marathon Petroleum in a research report on Thursday, October 9th. Barclays boosted their target price on Marathon Petroleum from $176.00 to $194.00 and gave the company an “overweight” rating in a research report on Monday, October 13th. Finally, Mizuho increased their price objective on Marathon Petroleum from $184.00 to $188.00 and gave the stock a “neutral” rating in a research note on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $200.31.

Marathon Petroleum Stock Up 1.7%

Marathon Petroleum stock opened at $184.14 on Monday. The business has a fifty day moving average of $180.61 and a two-hundred day moving average of $165.13. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. The firm has a market cap of $55.98 billion, a P/E ratio of 27.32, a P/E/G ratio of 2.87 and a beta of 0.90. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $201.61.

Marathon Petroleum (NYSE:MPC) last posted 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 company had revenue of $34.10 billion during the quarter, compared to analyst estimates of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.Marathon Petroleum’s revenue was down 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.12 earnings per share. On average, analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

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

Insider Activity

In other news, insider Molly R. Benson sold 10,879 shares of the company’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the transaction, the insider directly owned 28,700 shares of the company’s stock, valued at approximately $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.

Marathon Petroleum Company 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.