Gibbs Wealth Management Buys 2,696 Shares of Marathon Petroleum Corporation $MPC

Gibbs Wealth Management boosted its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 83.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 5,938 shares of the oil and gas company’s stock after buying an additional 2,696 shares during the period. Gibbs Wealth Management’s holdings in Marathon Petroleum were worth $1,450,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Navalign LLC purchased a new position in Marathon Petroleum during the 4th quarter valued at $30,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Marathon Petroleum in the fourth quarter worth $31,000. Berbice Capital Management LLC lifted its position in shares of Marathon Petroleum by 100.0% during the fourth quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 100 shares during the last quarter. WFA of San Diego LLC bought a new stake in shares of Marathon Petroleum during the second quarter worth $33,000. Finally, Ares Financial Consulting LLC purchased a new stake in shares of Marathon Petroleum during the fourth quarter valued at $34,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MPC has been the topic of several recent analyst reports. TD Cowen raised their price target on shares of Marathon Petroleum from $315.00 to $357.00 and gave the stock a “buy” rating in a research note on Tuesday. The Goldman Sachs Group boosted their price objective on shares of Marathon Petroleum from $291.00 to $376.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays upped their target price on shares of Marathon Petroleum from $270.00 to $289.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Piper Sandler reaffirmed an “overweight” rating and set a $343.00 price target on shares of Marathon Petroleum in a research note on Thursday. Finally, Bank of America boosted their price target on Marathon Petroleum from $224.00 to $260.00 in a report on Tuesday, May 26th. Eleven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $298.69.

Marathon Petroleum Trading Down 1.2%

NYSE:MPC opened at $311.92 on Friday. Marathon Petroleum Corporation has a one year low of $158.00 and a one year high of $326.92. 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 firm has a market cap of $91.06 billion, a P/E ratio of 20.36, a P/E/G ratio of 0.42 and a beta of 0.52. The firm has a 50-day simple moving average of $267.58 and a 200-day simple moving average of $232.08.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.91. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The firm had revenue of $34.20 billion for the quarter, compared to the consensus estimate of $33.42 billion. During the same period last year, the firm earned ($0.24) earnings per share. The company’s quarterly revenue was up 8.5% on a year-over-year basis. Equities analysts anticipate that Marathon Petroleum Corporation will post 35.82 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $4.00 dividend on an annualized basis and a yield of 1.3%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 26.11%.

Insiders Place Their Bets

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

About Marathon Petroleum

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.