1,252 Shares in Marathon Petroleum Corporation $MPC Purchased by Symphony Financial Services Inc.

Symphony Financial Services Inc. purchased a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 1,252 shares of the oil and gas company’s stock, valued at approximately $208,000.

Several other hedge funds have also added to or reduced their stakes in MPC. Baker Tilly Wealth Management LLC grew its holdings in Marathon Petroleum by 2.8% during the second quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company’s stock valued at $370,000 after purchasing an additional 60 shares during the period. CHICAGO TRUST Co NA grew its stake in shares of Marathon Petroleum by 3.9% during the 2nd quarter. CHICAGO TRUST Co NA now owns 1,684 shares of the oil and gas company’s stock worth $280,000 after acquiring an additional 63 shares during the period. Werba Rubin Papier Wealth Management increased its holdings in Marathon Petroleum by 4.2% in the 2nd quarter. Werba Rubin Papier Wealth Management now owns 1,577 shares of the oil and gas company’s stock worth $262,000 after acquiring an additional 64 shares during the last quarter. AdvisorShares Investments LLC raised its stake in Marathon Petroleum by 2.4% in the 2nd quarter. AdvisorShares Investments LLC now owns 2,828 shares of the oil and gas company’s stock valued at $470,000 after acquiring an additional 66 shares during the period. Finally, Joseph Group Capital Management lifted its holdings in Marathon Petroleum by 0.3% during the second quarter. Joseph Group Capital Management now owns 21,904 shares of the oil and gas company’s stock valued at $3,639,000 after purchasing an additional 67 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Up 1.8%

Shares of NYSE:MPC opened at $199.87 on Wednesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.32 and a quick ratio of 0.79. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $201.72. The company has a market cap of $60.08 billion, a P/E ratio of 21.31, a PEG ratio of 3.81 and a beta of 0.90. The stock’s fifty day moving average price is $188.59 and its 200-day moving average price is $173.28.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share for the quarter, topping analysts’ consensus estimates of $3.00 by $0.01. The business had revenue of $34.81 billion during the quarter, compared to analyst estimates of $31.06 billion. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%. Sell-side analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Wednesday, November 19th will be issued a $1.00 dividend. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.91. This represents a $4.00 annualized dividend and a yield of 2.0%. The ex-dividend date is Wednesday, November 19th. Marathon Petroleum’s dividend payout ratio is 38.81%.

Insider Buying and Selling

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $163.00, for a total value of $1,773,277.00. Following the completion of the sale, the insider 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 document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

MPC has been the topic of a number of analyst reports. Dbs Bank raised shares of Marathon Petroleum to a “moderate buy” rating in a report on Monday, July 28th. Barclays raised their target price on Marathon Petroleum from $176.00 to $194.00 and gave the company an “overweight” rating in a research note on Monday, October 13th. Evercore ISI boosted their target price on Marathon Petroleum from $170.00 to $210.00 and gave the stock an “in-line” rating in a report on Friday, September 19th. Weiss Ratings restated a “hold (c)” rating on shares of Marathon Petroleum in a report on Wednesday, October 8th. Finally, Mizuho upped their price target on shares of Marathon Petroleum from $184.00 to $188.00 and gave the stock a “neutral” rating in a research note on Monday, September 15th. Eight research analysts have rated the stock with 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 price target of $200.00.

About Marathon Petroleum

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.