Sage Mountain Advisors LLC Buys 442 Shares of Marathon Petroleum Corporation $MPC

Sage Mountain Advisors LLC lifted its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 24.3% in the second quarter, HoldingsChannel reports. The fund owned 2,260 shares of the oil and gas company’s stock after acquiring an additional 442 shares during the period. Sage Mountain Advisors LLC’s holdings in Marathon Petroleum were worth $375,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Activest Wealth Management grew its stake in shares of Marathon Petroleum by 290.2% during the 2nd quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 119 shares during the period. CBIZ Investment Advisory Services LLC grew its stake in shares of 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 valued at $31,000 after acquiring an additional 201 shares during the period. Hughes Financial Services LLC bought a new position in shares of Marathon Petroleum during the 1st quarter valued at approximately $32,000. WPG Advisers LLC bought a new position in Marathon Petroleum in the 1st quarter worth approximately $32,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new position in Marathon Petroleum in the 1st quarter worth approximately $35,000. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $196.17 on Monday. The stock’s fifty day moving average is $183.52 and its 200 day moving average is $167.50. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $201.61. The firm has a market capitalization of $59.64 billion, a PE ratio of 29.10, a PEG ratio of 4.11 and a beta of 0.90. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23.

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

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were paid a $0.91 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a yield of 1.9%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 54.01%.

Insiders Place Their Bets

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $163.00, for a total value of $1,773,277.00. Following the sale, the insider owned 28,700 shares in the company, valued at $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MPC. Morgan Stanley upped their price target on Marathon Petroleum from $182.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, October 3rd. Wolfe Research downgraded Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 14th. Citigroup upped their price target on Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. Piper Sandler upped their price target on Marathon Petroleum from $184.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, September 11th. Finally, UBS Group upped their price objective on Marathon Petroleum from $203.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $200.31.

Marathon Petroleum Company 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.