Elevation Point Wealth Partners LLC Acquires New Position in Marathon Petroleum Corporation $MPC

Elevation Point Wealth Partners LLC bought a new position in Marathon Petroleum Corporation (NYSE:MPC) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,098 shares of the oil and gas company’s stock, valued at approximately $1,815,000.

Other institutional investors have also recently made changes to their positions in the company. Energy Income Partners LLC bought a new position in shares of Marathon Petroleum during the 2nd quarter valued at approximately $4,912,000. Pictet Asset Management Holding SA boosted its position in shares of Marathon Petroleum by 31.0% in the first quarter. Pictet Asset Management Holding SA now owns 213,545 shares of the oil and gas company’s stock worth $52,146,000 after purchasing an additional 50,521 shares during the period. Teachers Retirement System of The State of Kentucky increased its stake in shares of Marathon Petroleum by 570.7% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 168,644 shares of the oil and gas company’s stock worth $41,180,000 after purchasing an additional 143,500 shares in the last quarter. North Dakota State Investment Board bought a new stake in shares of Marathon Petroleum during the 4th quarter valued at $1,714,000. Finally, ABC Arbitrage SA purchased a new position in shares of Marathon Petroleum during the 4th quarter valued at $4,977,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Up 0.4%

MPC opened at $362.18 on Monday. The stock has a 50-day moving average of $297.25 and a 200 day moving average of $254.78. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19. Marathon Petroleum Corporation has a 12 month low of $161.93 and a 12 month high of $367.60. The firm has a market cap of $105.73 billion, a P/E ratio of 12.45, a P/E/G ratio of 0.23 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, beating the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The business had revenue of $51.99 billion for the quarter, compared to the consensus estimate of $40.87 billion. During the same quarter in the prior year, the firm posted $3.96 earnings per share. The business’s revenue for the quarter was up 53.5% on a year-over-year basis. As a group, research analysts forecast that Marathon Petroleum Corporation will post 46.66 EPS for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio (DPR) is 13.75%.

Wall Street Analyst Weigh In

A number of research firms have commented on MPC. Zacks Research cut Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 17th. Weiss Ratings raised Marathon Petroleum from a “hold (c+)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Morgan Stanley upped their price target on Marathon Petroleum from $233.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. Piper Sandler upped their target price on shares of Marathon Petroleum from $343.00 to $344.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, JPMorgan Chase & Co. raised their target price on shares of Marathon Petroleum from $235.00 to $257.00 in a research note on Wednesday, May 6th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Marathon Petroleum presently has an average rating of “Moderate Buy” and an average price target of $312.50.

Insiders Place Their Bets

In other news, SVP Shawn M. Lyon sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $350.00, for a total value of $875,000.00. Following the transaction, the senior vice president directly owned 12,619 shares in the company, valued at approximately $4,416,650. This represents a 16.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the transaction, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. This represents a 27.27% decrease in their position. The SEC filing for this sale provides additional information. 0.17% of the stock is currently owned by insiders.

Marathon Petroleum Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.