United Asset Strategies Inc. increased its holdings in Marathon Petroleum Corp (NYSE:MPC) by 10.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,256 shares of the oil and gas company’s stock after purchasing an additional 2,149 shares during the quarter. United Asset Strategies Inc.’s holdings in Marathon Petroleum were worth $1,244,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Alpha Omega Wealth Management LLC raised its position in Marathon Petroleum by 135.1% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 435 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 250 shares during the period. Wealthcare Advisory Partners LLC raised its position in Marathon Petroleum by 345.6% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 508 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 394 shares during the period. Bay Harbor Wealth Management LLC purchased a new position in Marathon Petroleum in the 1st quarter worth $31,000. AllSquare Wealth Management LLC purchased a new position in Marathon Petroleum in the 1st quarter worth $32,000. Finally, Horan Capital Advisors LLC. purchased a new position in Marathon Petroleum in the 1st quarter worth $36,000. Institutional investors own 76.94% of the company’s stock.
A number of brokerages recently commented on MPC. Raymond James lifted their target price on shares of Marathon Petroleum from $72.00 to $75.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 2nd. Morgan Stanley cut their price target on shares of Marathon Petroleum from $82.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday, May 17th. Cowen lowered shares of Marathon Petroleum from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $90.00 to $65.00 in a report on Friday, May 10th. ValuEngine raised shares of Marathon Petroleum from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 22nd. Finally, Zacks Investment Research lowered shares of Marathon Petroleum from a “hold” rating to a “strong sell” rating in a report on Friday, May 17th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $82.62.
Marathon Petroleum (NYSE:MPC) last announced its earnings results on Thursday, August 1st. The oil and gas company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.40. The firm had revenue of $33.70 billion for the quarter, compared to analyst estimates of $33.26 billion. Marathon Petroleum had a net margin of 2.36% and a return on equity of 9.55%. The company’s revenue for the quarter was up 50.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.27 EPS. Equities analysts anticipate that Marathon Petroleum Corp will post 4.36 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date is Tuesday, August 20th. Marathon Petroleum’s payout ratio is 31.27%.
In related news, insider Donald C. Templin bought 5,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were purchased at an average price of $50.74 per share, with a total value of $253,700.00. Following the purchase, the insider now owns 93,182 shares of the company’s stock, valued at approximately $4,728,054.68. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James E. Rohr bought 12,500 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were bought at an average cost of $48.14 per share, for a total transaction of $601,750.00. The disclosure for this purchase can be found here. Insiders own 1.06% of the company’s stock.
Marathon Petroleum Profile
Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.
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