Royal Capital Wealth Management LLC Purchases New Position in Marathon Petroleum Corporation $MPC

Royal Capital Wealth Management LLC acquired a new position in Marathon Petroleum Corporation (NYSE:MPC) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,860 shares of the oil and gas company’s stock, valued at approximately $476,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MPC. Legal & General Group Plc bought a new stake in shares of Marathon Petroleum in the 2nd quarter worth $380,745,000. The Manufacturers Life Insurance Company bought a new position in shares of Marathon Petroleum during the second quarter valued at $45,251,000. Fiduciary Financial Advisors purchased a new stake in shares of Marathon Petroleum during the second quarter valued at $70,000. Manning & Napier Advisors LLC purchased a new stake in shares of Marathon Petroleum during the second quarter valued at $2,334,000. Finally, L2 Asset Management LLC bought a new stake in Marathon Petroleum in the 2nd quarter worth about $650,000. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Trading Up 0.4%

Shares of NYSE:MPC opened at $362.34 on Tuesday. The stock’s 50-day simple moving average is $299.48 and its two-hundred day simple moving average is $256.01. The stock has a market capitalization of $105.78 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 0.23 and a beta of 0.52. Marathon Petroleum Corporation has a 52-week low of $161.93 and a 52-week high of $367.60. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, beating the consensus estimate of $14.27 by $3.46. The firm had revenue of $51.99 billion during the quarter, compared to analyst estimates of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The business’s revenue for the quarter was up 53.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.96 EPS. Analysts expect that Marathon Petroleum Corporation will post 46.66 EPS for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be given a $1.00 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $4.00 annualized dividend and a yield of 1.1%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 13.75%.

Insider Transactions at Marathon Petroleum

In other news, SVP Shawn M. Lyon sold 2,500 shares of Marathon Petroleum stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $350.00, for a total transaction of $875,000.00. Following the transaction, the senior vice president owned 12,619 shares in the company, valued at $4,416,650. This trade represents a 16.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Molly R. Benson sold 17,196 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $358.57, for a total value of $6,165,969.72. Following the completion of the sale, the insider owned 30,334 shares of the company’s stock, valued at $10,876,862.38. This trade represents a 36.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 26,032 shares of company stock worth $8,744,213 in the last 90 days. 0.17% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Wall Street Zen upgraded shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. Barclays lifted their price target on shares of Marathon Petroleum from $289.00 to $321.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Piper Sandler boosted their price objective on shares of Marathon Petroleum from $343.00 to $344.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Bank of America raised their target price on shares of Marathon Petroleum from $224.00 to $260.00 in a report on Tuesday, May 26th. Finally, Mizuho lifted their target price on shares of Marathon Petroleum from $284.00 to $304.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $312.50.

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.