Tranquility Partners LLC Boosts Stock Position in Marathon Petroleum Corporation $MPC

Tranquility Partners LLC increased its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 4.1% in the second quarter, HoldingsChannel reports. The firm owned 10,598 shares of the oil and gas company’s stock after buying an additional 419 shares during the quarter. Tranquility Partners LLC’s holdings in Marathon Petroleum were worth $1,760,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC increased its position in Marathon Petroleum by 1,546.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 201 shares in the last quarter. Hughes Financial Services LLC purchased a new stake in Marathon Petroleum in the 1st quarter valued at about $32,000. WPG Advisers LLC purchased a new stake in Marathon Petroleum in the 1st quarter valued at about $32,000. Decker Retirement Planning Inc. grew its holdings in 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 valued at $35,000 after buying an additional 227 shares during the period. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in Marathon Petroleum in the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on MPC shares. BMO Capital Markets lifted their price target on Marathon Petroleum from $195.00 to $208.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Piper Sandler lifted their price target on Marathon Petroleum from $184.00 to $222.00 and gave the company a “neutral” rating in a report on Thursday, September 11th. Mizuho lifted their price target on Marathon Petroleum from $184.00 to $188.00 and gave the company a “neutral” rating in a report on Monday, September 15th. TD Cowen reduced their price objective on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Finally, Barclays lifted their price objective on Marathon Petroleum from $159.00 to $189.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Eight investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $198.92.

Marathon Petroleum Stock Performance

NYSE MPC opened at $181.08 on Friday. The business’s 50-day simple moving average is $178.73 and its 200-day simple moving average is $163.60. The firm has a market capitalization of $55.05 billion, a P/E ratio of 26.87, a P/E/G ratio of 3.04 and a beta of 0.90. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $201.61.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, topping the consensus estimate of $3.22 by $0.74. The firm had revenue of $34.10 billion for the quarter, compared to analyst estimates of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.Marathon Petroleum’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $4.12 EPS. Equities analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.64 annualized dividend and a yield of 2.0%. Marathon Petroleum’s payout ratio is 54.01%.

Insider Buying and Selling

In related news, insider Molly R. Benson sold 10,879 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the transaction, the insider directly owned 28,700 shares of the company’s stock, valued at approximately $4,678,100. The trade was a 27.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.21% 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.