BNB Wealth Management LLC Buys Shares of 2,295 Marathon Petroleum Corporation $MPC

BNB Wealth Management LLC bought a new stake in shares of Marathon Petroleum Corporation (NYSE:MPCFree Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,295 shares of the oil and gas company’s stock, valued at approximately $373,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Creative Financial Designs Inc. ADV raised its stake in Marathon Petroleum by 2.6% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 2,050 shares of the oil and gas company’s stock valued at $333,000 after buying an additional 51 shares during the last quarter. IFG Advisory LLC raised its stake in Marathon Petroleum by 1.5% during the 4th quarter. IFG Advisory LLC now owns 3,429 shares of the oil and gas company’s stock valued at $558,000 after buying an additional 51 shares during the last quarter. Eagle Bluffs Wealth Management LLC grew its position in shares of Marathon Petroleum by 1.2% during the 4th quarter. Eagle Bluffs Wealth Management LLC now owns 4,357 shares of the oil and gas company’s stock valued at $709,000 after acquiring an additional 52 shares during the period. Auxano Advisors LLC grew its position in shares of Marathon Petroleum by 2.1% during the 4th quarter. Auxano Advisors LLC now owns 2,630 shares of the oil and gas company’s stock valued at $428,000 after acquiring an additional 55 shares during the period. Finally, Fifth Third Wealth Advisors LLC grew its position in shares of Marathon Petroleum by 0.6% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 10,287 shares of the oil and gas company’s stock valued at $1,673,000 after acquiring an additional 57 shares during the period. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Marathon Petroleum

Here are the key news stories impacting Marathon Petroleum this week:

Marathon Petroleum Stock Down 2.3%

Shares of MPC stock opened at $244.63 on Thursday. The stock has a market cap of $71.42 billion, a P/E ratio of 15.97, a PEG ratio of 0.38 and a beta of 0.52. Marathon Petroleum Corporation has a 52 week low of $158.00 and a 52 week high of $272.46. 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 company’s fifty day simple moving average is $244.99 and its two-hundred day simple moving average is $213.77.

Marathon Petroleum (NYSE:MPCGet Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, topping the consensus estimate of $0.74 by $0.91. The business had revenue of $34.20 billion for the quarter, compared to analysts’ expectations of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.24) EPS. Analysts predict that Marathon Petroleum Corporation will post 31.95 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were paid a $1.00 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $4.00 annualized dividend and a yield of 1.6%. Marathon Petroleum’s payout ratio is presently 26.11%.

Analyst Ratings Changes

MPC has been the subject of a number of recent research reports. BMO Capital Markets reissued an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, June 12th. Citigroup boosted their price objective on shares of Marathon Petroleum from $243.00 to $257.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Zacks Research raised shares of Marathon Petroleum from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 7th. Weiss Ratings downgraded shares of Marathon Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $344.00 price objective on shares of Marathon Petroleum in a research report on Monday. 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’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $272.94.

Read Our Latest Stock Analysis on Marathon Petroleum

Insider Buying and Selling

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total value of $1,703,243.52. Following the sale, the vice president owned 16,900 shares in the company, valued at $4,543,058. The trade was a 27.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is currently owned by insiders.

Marathon Petroleum Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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