CrossGen Wealth LLC Buys Shares of 16,076 Marathon Petroleum Corporation $MPC

CrossGen Wealth LLC purchased a new stake in Marathon Petroleum Corporation (NYSE:MPC) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 16,076 shares of the oil and gas company’s stock, valued at approximately $2,615,000. Marathon Petroleum accounts for approximately 2.3% of CrossGen Wealth LLC’s holdings, making the stock its 13th biggest holding.

Several other hedge funds have also recently modified their holdings of the business. Navalign LLC bought a new position in shares of Marathon Petroleum during the fourth quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Marathon Petroleum during the fourth quarter worth $31,000. Berbice Capital Management LLC lifted its holdings in Marathon Petroleum by 100.0% during the fourth quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock worth $33,000 after buying an additional 100 shares during the period. WFA of San Diego LLC bought a new stake in Marathon Petroleum during the 2nd quarter valued at $33,000. Finally, Ares Financial Consulting LLC purchased a new position in shares of Marathon Petroleum in the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Down 0.6%

NYSE:MPC opened at $243.11 on Friday. The company has a market capitalization of $70.97 billion, a P/E ratio of 15.87, a PEG ratio of 0.38 and a beta of 0.52. The company has a current ratio of 1.18, a quick ratio of 0.73 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a 12 month low of $158.00 and a 12 month high of $272.46. The firm has a fifty day simple moving average of $244.96 and a 200-day simple moving average of $214.12.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.91. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The company had revenue of $34.20 billion during the quarter, compared to analyst estimates of $33.42 billion. During the same quarter last year, the business posted ($0.24) EPS. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities research analysts anticipate that Marathon Petroleum Corporation will post 31.35 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were issued a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.6%. Marathon Petroleum’s dividend payout ratio is currently 26.11%.

Insider Activity

In related news, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum 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 sale, the vice president owned 16,900 shares of the company’s stock, valued at $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.17% of the stock is currently owned by insiders.

Key Marathon Petroleum News

Here are the key news stories impacting Marathon Petroleum this week:

• Positive Sentiment: Wall Street’s broadly bullish analyst views suggest investors still see upside potential in Marathon Petroleum, even after its strong recent performance. Is It Worth Investing in Marathon Petroleum (MPC) Based on Wall Street’s Bullish Views?
• Positive Sentiment: One market analysis said MPC could be about 5.5% undervalued, which may attract value-focused buyers if investors believe the refining business remains resilient. Marathon Petroleum (MPC) Stock Could Be 5.5% Undervalued Despite Its Strong Run
• Neutral Sentiment: Recent coverage comparing MPC with Delek and other refiners is keeping attention on valuation and earnings revisions, but it does not point to a clear near-term catalyst on its own. Delek vs. Marathon Petroleum: Which Stock Offers Better Refining Bet?
• Negative Sentiment: A trading-day recap noted that MPC declined more than the broader market, signaling some profit-taking or weaker sentiment in the near term. Marathon Petroleum (MPC) Sees a More Significant Dip Than Broader Market: Some Facts to Know
• Negative Sentiment: Oil-market headlines about the Strait of Hormuz reopening could weigh on refining and energy sentiment if traders expect less geopolitical support for crude prices. Marathon Petroleum (MPC) Faces A New Oil Reality As The Strait Of Hormuz Reopens

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MPC shares. Wells Fargo & Company reaffirmed an “overweight” rating and set a $344.00 price objective on shares of Marathon Petroleum in a research report on Monday. Raymond James Financial raised their price target on shares of Marathon Petroleum from $285.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, June 10th. Morgan Stanley boosted their price objective on shares of Marathon Petroleum from $233.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. Mizuho increased their target price on shares of Marathon Petroleum from $224.00 to $284.00 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Finally, Wall Street Zen raised shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 10th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus target price of $272.94.

Marathon Petroleum Company 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.