Marathon Petroleum Corporation (NYSE:MPC) Shares Purchased by Parcion Private Wealth LLC

Parcion Private Wealth LLC boosted its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 8.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 33,614 shares of the oil and gas company’s stock after buying an additional 2,661 shares during the period. Parcion Private Wealth LLC’s holdings in Marathon Petroleum were worth $4,897,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MPC. Fourth Dimension Wealth LLC acquired a new stake in Marathon Petroleum in the 4th quarter worth about $26,000. Hughes Financial Services LLC purchased a new position in shares of Marathon Petroleum in the 1st quarter worth about $32,000. Decker Retirement Planning Inc. raised its holdings in shares of Marathon Petroleum by 1,621.4% in the 1st quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 227 shares during the period. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Marathon Petroleum in the 1st quarter worth about $35,000. Finally, Capital A Wealth Management LLC purchased a new position in shares of Marathon Petroleum in the 4th quarter worth about $52,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Scotiabank restated an “outperform” rating on shares of Marathon Petroleum in a report on Friday. Barclays raised their price objective on Marathon Petroleum from $159.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Wall Street Zen upgraded Marathon Petroleum from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Wells Fargo & Company raised their price objective on Marathon Petroleum from $182.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Finally, UBS Group raised their target price on Marathon Petroleum from $175.00 to $203.00 and gave the company a “buy” rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $182.07.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $175.85 on Wednesday. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $183.31. The business has a 50 day moving average price of $165.01 and a two-hundred day moving average price of $150.56. 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 firm has a market cap of $54.02 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 3.51 and a beta of 0.88.

Marathon Petroleum (NYSE:MPC) last issued 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. The firm had revenue of $31.85 billion during the quarter, compared to analyst estimates of $28.91 billion. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. Marathon Petroleum’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.58 EPS. Sell-side analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were given a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $3.64 annualized dividend and a dividend yield of 2.07%. Marathon Petroleum’s payout ratio is 51.20%.

Insider Activity at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total value of $1,293,600.00. Following the completion of the transaction, the director 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.25% of the company’s stock.

Marathon Petroleum Profile

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.