Wealthfront Advisers LLC Purchases 5,273 Shares of Marathon Petroleum Corporation $MPC

Wealthfront Advisers LLC grew its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 5.6% in the 2nd quarter, Holdings Channel reports. The firm owned 99,425 shares of the oil and gas company’s stock after acquiring an additional 5,273 shares during the quarter. Wealthfront Advisers LLC’s holdings in Marathon Petroleum were worth $16,515,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MPC. Brighton Jones LLC raised its holdings 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 during the last quarter. GAMMA Investing LLC increased its stake in shares of Marathon Petroleum by 3.4% in 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. Golden State Wealth Management LLC increased its stake in shares of Marathon Petroleum by 140.7% in the 1st quarter. Golden State Wealth Management LLC now owns 1,483 shares of the oil and gas company’s stock valued at $216,000 after acquiring an additional 867 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Marathon Petroleum by 3.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 17,153 shares of the oil and gas company’s stock valued at $2,499,000 after acquiring an additional 599 shares in the last quarter. Finally, Diversified Trust Co increased its stake in shares of Marathon Petroleum by 2.0% in the 1st quarter. Diversified Trust Co now owns 6,678 shares of the oil and gas company’s stock valued at $973,000 after acquiring an additional 133 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Insiders Place Their Bets

In related news, insider Molly R. Benson sold 10,879 shares of the business’s stock in a transaction dated 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 transaction, the insider directly owned 28,700 shares in the company, valued at approximately $4,678,100. The trade was a 27.49% 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 this link. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wells Fargo & Company assumed coverage on shares of Marathon Petroleum in a research note on Friday, October 17th. They issued an “overweight” rating and a $214.00 price objective for the company. Raymond James Financial reiterated an “outperform” rating and issued a $203.00 price objective (up previously from $199.00) on shares of Marathon Petroleum in a research note on Friday, October 17th. Citigroup lifted their price objective on shares of Marathon Petroleum from $144.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. Dbs Bank upgraded shares of Marathon Petroleum to a “moderate buy” rating in a research note on Monday, July 28th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Marathon Petroleum in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, Marathon Petroleum has an average rating of “Moderate Buy” and an average target price of $200.31.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $196.17 on Monday. The firm has a market capitalization of $59.64 billion, a PE ratio of 29.10, a price-to-earnings-growth ratio of 4.11 and a beta of 0.90. The firm has a fifty day simple moving average of $183.52 and a two-hundred day simple moving average of $167.50. 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 12 month low of $115.10 and a 12 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 (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The firm had revenue of $34.10 billion during the quarter, compared to analyst estimates of $31.70 billion. During the same quarter in the prior year, the business posted $4.12 EPS. The business’s revenue was down 11.1% compared to the same quarter last year. Analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors 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 annualized dividend and a yield of 1.9%. Marathon Petroleum’s payout ratio is 54.01%.

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.