Marathon Petroleum Corporation $MPC Shares Acquired by AlphaCore Capital LLC

AlphaCore Capital LLC boosted its position in Marathon Petroleum Corporation (NYSE:MPC) by 67.1% in the 4th quarter, HoldingsChannel reports. The firm owned 65,219 shares of the oil and gas company’s stock after purchasing an additional 26,186 shares during the period. AlphaCore Capital LLC’s holdings in Marathon Petroleum were worth $10,607,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in Marathon Petroleum by 30.9% in the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock valued at $696,000 after buying an additional 1,178 shares during the period. Woodline Partners LP raised its position in shares of Marathon Petroleum by 38.3% in the 1st quarter. Woodline Partners LP now owns 26,697 shares of the oil and gas company’s stock valued at $3,889,000 after purchasing an additional 7,396 shares in the last quarter. Sivia Capital Partners LLC raised its position in shares of Marathon Petroleum by 26.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,221 shares of the oil and gas company’s stock valued at $369,000 after purchasing an additional 466 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Marathon Petroleum in the 2nd quarter valued at approximately $8,505,000. Finally, AXA S.A. raised its position in shares of Marathon Petroleum by 46.7% during the 2nd quarter. AXA S.A. now owns 39,675 shares of the oil and gas company’s stock valued at $6,590,000 after acquiring an additional 12,639 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Activity at Marathon Petroleum

In other news, insider Ricky D. Hessling sold 1,626 shares of the company’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $228.18, for a total transaction of $371,020.68. Following the completion of the sale, the insider directly owned 7,525 shares of the company’s stock, valued at $1,717,054.50. This represents a 17.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 4,473 shares of company stock worth $1,015,428 over the last three months. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. TD Cowen increased their target price on Marathon Petroleum to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. raised their price target on Marathon Petroleum from $235.00 to $257.00 in a report on Wednesday, May 6th. Jefferies Financial Group raised their price target on Marathon Petroleum from $263.00 to $279.00 and gave the company a “buy” rating in a report on Monday, April 13th. Piper Sandler raised their price target on Marathon Petroleum from $197.00 to $228.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Marathon Petroleum in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average target price of $259.44.

Marathon Petroleum Trading Up 2.5%

Shares of MPC stock opened at $255.16 on Friday. Marathon Petroleum Corporation has a fifty-two week low of $154.65 and a fifty-two week high of $261.61. The stock has a market capitalization of $74.49 billion, a P/E ratio of 16.66, a P/E/G ratio of 0.34 and a beta of 0.53. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31. The stock has a 50-day simple moving average of $234.57 and a 200 day simple moving average of $203.45.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, beating the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The business had revenue of $34.20 billion during the quarter, compared to the consensus estimate of $33.42 billion. During the same period in the prior year, the business posted ($0.24) earnings per share. Marathon Petroleum’s revenue was up 8.5% compared to the same quarter last year. On average, sell-side analysts expect that Marathon Petroleum Corporation will post 28.83 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, May 20th. Marathon Petroleum’s dividend payout ratio is currently 26.11%.

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.