Marathon Petroleum Corporation $MPC Stock Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management increased its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 37.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,747 shares of the oil and gas company’s stock after buying an additional 8,170 shares during the quarter. Ritholtz Wealth Management’s holdings in Marathon Petroleum were worth $11,763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in MPC. UNIVEST FINANCIAL Corp boosted its stake in Marathon Petroleum by 6.3% in the 3rd quarter. UNIVEST FINANCIAL Corp now owns 905 shares of the oil and gas company’s stock worth $358,000 after purchasing an additional 54 shares in the last quarter. Joel Isaacson & Co. LLC grew its position in Marathon Petroleum by 8.3% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 2,267 shares of the oil and gas company’s stock worth $897,000 after purchasing an additional 173 shares during the last quarter. Jacobi Capital Management LLC increased its stake in Marathon Petroleum by 11.3% during the 3rd quarter. Jacobi Capital Management LLC now owns 2,924 shares of the oil and gas company’s stock valued at $1,156,000 after purchasing an additional 298 shares in the last quarter. First Command Advisory Services Inc. increased its stake in Marathon Petroleum by 320.2% during the 3rd quarter. First Command Advisory Services Inc. now owns 1,080 shares of the oil and gas company’s stock valued at $427,000 after purchasing an additional 823 shares in the last quarter. Finally, Machina Capital S.A.S. purchased a new position in shares of Marathon Petroleum in the third quarter worth $2,637,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, insider Molly R. Benson sold 17,196 shares of Marathon Petroleum stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $358.57, for a total transaction of $6,165,969.72. Following the completion of the transaction, the insider owned 30,334 shares in the company, valued at approximately $10,876,862.38. This trade represents a 36.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Erin M. Brzezinski sold 570 shares of Marathon Petroleum stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $362.79, for a total value of $206,790.30. Following the transaction, the vice president owned 1,576 shares of the company’s stock, valued at $571,757.04. The trade was a 26.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 19,191 shares of company stock worth $6,905,127 over the last three months. Company insiders own 0.17% of the company’s stock.

Marathon Petroleum Stock Performance

MPC opened at $402.73 on Thursday. The company has a current ratio of 1.45, a quick ratio of 1.09 and a debt-to-equity ratio of 1.10. Marathon Petroleum Corporation has a 12-month low of $161.93 and a 12-month high of $493.98. The firm has a 50 day moving average of $422.83 and a two-hundred day moving average of $298.62. The firm has a market capitalization of $109.65 billion, a PE ratio of 13.84, a P/E/G ratio of 0.10 and a beta of 0.53.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, November 3rd. The oil and gas company reported $26.93 EPS for the quarter, beating the consensus estimate of $25.37 by $1.56. The business had revenue of $56.03 billion for the quarter, compared to the consensus estimate of $46.60 billion. Marathon Petroleum had a net margin of 8.27% and a return on equity of 55.82%. The business’s revenue for the quarter was up 57.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.01 EPS. On average, analysts anticipate that Marathon Petroleum Corporation will post 66.31 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be given a dividend of $1.00 per share. The ex-dividend date is Wednesday, November 18th. This represents a $4.00 dividend on an annualized basis and a yield of 1.0%. Marathon Petroleum’s payout ratio is currently 13.75%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MPC shares. Morgan Stanley lifted their price objective on shares of Marathon Petroleum from $453.00 to $458.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 4th. Citigroup upped their target price on Marathon Petroleum from $318.00 to $518.00 and gave the company a “neutral” rating in a research report on Tuesday, October 13th. Evercore set a $330.00 target price on Marathon Petroleum in a research report on Wednesday, August 5th. Mizuho raised their target price on Marathon Petroleum from $304.00 to $457.00 and gave the stock a “neutral” rating in a research note on Thursday, October 8th. Finally, Raymond James Financial lifted their price target on Marathon Petroleum from $350.00 to $445.00 and gave the stock an “outperform” rating in a research report on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $425.12.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation is an integrated downstream energy company focused on refining, marketing, and transporting petroleum products. Its refineries produce fuels and other products, including gasoline, diesel, jet fuel, asphalt, and petrochemical feedstocks. The company sells transportation fuels and related products through a network of branded locations and other wholesale and commercial channels, primarily in the United States. Its midstream operations, conducted largely through its affiliated partnership MPLX, include gathering, processing, and transporting natural gas and natural gas liquids, as well as storing and transporting crude oil and refined products.