2,332 Shares in Marathon Petroleum Corporation $MPC Acquired by Uniting Wealth Partners LLC

Uniting Wealth Partners LLC bought a new stake in Marathon Petroleum Corporation (NYSE:MPC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,332 shares of the oil and gas company’s stock, valued at approximately $596,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Trivium Point Advisory LLC bought a new position in Marathon Petroleum during the 2nd quarter worth approximately $1,468,000. RW Investment Management LLC bought a new stake in shares of Marathon Petroleum in the 2nd quarter valued at $720,000. HBK Sorce Advisory LLC bought a new stake in shares of Marathon Petroleum in the 2nd quarter valued at $1,294,000. Tulsa Wealth Advisors INC acquired a new stake in shares of Marathon Petroleum during the second quarter worth $8,442,000. Finally, Nippon Life Global Investors Americas Inc. bought a new position in Marathon Petroleum during the second quarter worth $25,572,000. Institutional investors own 76.77% of the company’s stock.

Insider Buying and Selling

In other news, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.17% of the company’s stock.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $355.61 on Monday. The firm’s 50-day moving average price is $287.31 and its 200-day moving average price is $248.19. Marathon Petroleum Corporation has a 1-year low of $160.87 and a 1-year high of $360.10. The firm has a market capitalization of $103.82 billion, a P/E ratio of 12.22, a P/E/G ratio of 0.23 and a beta of 0.52. 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 (NYSE:MPC) last issued its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, beating the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The company had revenue of $51.99 billion during the quarter, compared to the consensus estimate of $40.87 billion. During the same period last year, the business posted $3.96 EPS. The firm’s revenue for the quarter was up 53.5% compared to the same quarter last year. Equities research analysts anticipate that Marathon Petroleum Corporation will post 46.66 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a $1.00 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $4.00 annualized dividend and a yield of 1.1%. Marathon Petroleum’s dividend payout ratio is presently 13.75%.

Analysts Set New Price Targets

MPC has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 10th. The Goldman Sachs Group increased their price target on Marathon Petroleum from $291.00 to $376.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. UBS Group reissued a “buy” rating and issued a $321.00 price objective on shares of Marathon Petroleum in a research report on Friday, July 10th. Bank of America boosted their price objective on Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. Finally, Raymond James Financial raised their target price on Marathon Petroleum from $300.00 to $335.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $312.50.

About Marathon Petroleum

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.