Hughes Financial Services LLC Acquires New Position in Marathon Petroleum Corporation (NYSE:MPC)

Hughes Financial Services LLC acquired a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 217 shares of the oil and gas company’s stock, valued at approximately $32,000.

Several other large investors also recently bought and sold shares of the business. TCTC Holdings LLC grew its stake in shares of Marathon Petroleum by 3.3% in the 4th quarter. TCTC Holdings LLC now owns 91,256 shares of the oil and gas company’s stock valued at $12,730,000 after buying an additional 2,892 shares during the period. Cambridge Financial Group Inc. purchased a new stake in shares of Marathon Petroleum in the 4th quarter valued at approximately $5,624,000. Good Steward Wealth Advisors LLC purchased a new stake in shares of Marathon Petroleum in the 1st quarter valued at approximately $346,000. New Age Alpha Advisors LLC purchased a new stake in shares of Marathon Petroleum in the 4th quarter valued at approximately $1,192,000. Finally, Silver Oak Securities Incorporated purchased a new stake in shares of Marathon Petroleum in the 1st quarter valued at approximately $339,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Insider Buying and Selling at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 7,392 shares of the firm’s stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total value of $1,293,600.00. Following the sale, the director directly owned 18,944 shares in the company, valued at approximately $3,315,200. This trade represents a 28.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MPC. Barclays increased their price target on shares of Marathon Petroleum from $159.00 to $189.00 and gave the company an “overweight” rating in a research note on Friday. TD Cowen increased their price target on shares of Marathon Petroleum from $152.00 to $163.00 and gave the company a “buy” rating in a research note on Tuesday, June 10th. Morgan Stanley dropped their price target on shares of Marathon Petroleum from $175.00 to $160.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Scotiabank increased their price objective on shares of Marathon Petroleum from $147.00 to $180.00 and gave the stock a “sector outperform” rating in a research report on Friday. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of Marathon Petroleum in a research report on Monday, June 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $184.38.

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $179.81 on Monday. The firm has a market cap of $55.24 billion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 3.59 and a beta of 0.88. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $183.31. The company has a quick ratio of 0.73, a current ratio of 1.19 and a debt-to-equity ratio of 1.16. The company’s 50 day moving average is $163.74 and its two-hundred day moving average is $150.10.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.16. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The business had revenue of $31.85 billion for the quarter, compared to analyst estimates of $28.91 billion. During the same period last year, the business earned $2.58 EPS. The company’s revenue was down 4.1% on a year-over-year basis. On average, research analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were issued a $0.91 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.02%. Marathon Petroleum’s payout ratio is 51.20%.

About Marathon Petroleum

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.