Lewis Asset Management LLC Invests $511,000 in Marathon Petroleum Corporation $MPC

Lewis Asset Management LLC acquired a new stake in Marathon Petroleum Corporation (NYSE:MPC) during the 1st quarter, Holdings Channel.com reports. The firm acquired 2,093 shares of the oil and gas company’s stock, valued at approximately $511,000.

A number of other institutional investors have also recently bought and sold shares of MPC. Diversified Trust Co. boosted its stake in Marathon Petroleum by 39.3% during the 4th quarter. Diversified Trust Co. now owns 15,675 shares of the oil and gas company’s stock worth $2,549,000 after acquiring an additional 4,419 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Marathon Petroleum during the third quarter worth $1,004,000. North Dakota State Investment Board acquired a new position in shares of Marathon Petroleum in the 4th quarter valued at $1,714,000. USA Financial Formulas acquired a new position in shares of Marathon Petroleum in the 4th quarter valued at $791,000. Finally, KBC Group NV increased its position in shares of Marathon Petroleum by 22.4% in the 4th quarter. KBC Group NV now owns 225,837 shares of the oil and gas company’s stock valued at $36,728,000 after buying an additional 41,259 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Buying and Selling

In other news, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the transaction, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. This represents a 27.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.17% of the stock is owned by company insiders.

Marathon Petroleum Trading Up 0.1%

NYSE MPC opened at $253.78 on Friday. Marathon Petroleum Corporation has a 52 week low of $158.00 and a 52 week high of $272.46. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18. The stock’s 50 day moving average price is $247.79 and its two-hundred day moving average price is $216.35. The stock has a market capitalization of $74.09 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 0.39 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.91. The company had revenue of $34.20 billion during 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% on a year-over-year basis. During the same period last year, the business earned ($0.24) EPS. As a group, analysts anticipate that Marathon Petroleum Corporation will post 31.35 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm 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. This represents a $4.00 annualized dividend and a yield of 1.6%. The ex-dividend date was Wednesday, May 20th. Marathon Petroleum’s payout ratio is presently 26.11%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MPC shares. Barclays boosted their target price on Marathon Petroleum from $230.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Mizuho lifted their price objective on Marathon Petroleum from $224.00 to $284.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. Raymond James Financial increased their target price on Marathon Petroleum from $285.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 10th. Weiss Ratings cut shares of Marathon Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Finally, Piper Sandler raised their price objective on shares of Marathon Petroleum from $197.00 to $228.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Ten investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $272.94.

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.