Independent Financial Group LLC Invests $554,000 in Marathon Petroleum Corporation $MPC

Independent Financial Group LLC bought a new position in Marathon Petroleum Corporation (NYSE:MPC) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,268 shares of the oil and gas company’s stock, valued at approximately $554,000.

A number of other large investors have also recently added to or reduced their stakes in the business. State Street Corp boosted its stake in shares of Marathon Petroleum by 0.3% during the 4th quarter. State Street Corp now owns 17,934,327 shares of the oil and gas company’s stock worth $2,916,660,000 after acquiring an additional 47,896 shares in the last quarter. Boston Partners boosted its position in shares of Marathon Petroleum by 2.3% in the 3rd quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company’s stock valued at $1,214,522,000 after purchasing an additional 141,691 shares during the period. Norges Bank acquired a new position in shares of Marathon Petroleum in the 4th quarter valued at $472,312,000. Charles Schwab Investment Management Inc. increased its stake in Marathon Petroleum by 0.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,818,361 shares of the oil and gas company’s stock worth $458,350,000 after purchasing an additional 11,693 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Marathon Petroleum by 2.7% during the 4th quarter. Invesco Ltd. now owns 2,600,191 shares of the oil and gas company’s stock worth $422,869,000 after buying an additional 67,600 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Michael A. Henschen II sold 6,336 shares of the 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 transaction, the vice president owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. This represents a 27.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

MPC has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. Jefferies Financial Group set a $335.00 price objective on shares of Marathon Petroleum and gave the stock a “buy” rating in a research note on Sunday, July 12th. Wall Street Zen raised shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. Bank of America increased their target price on Marathon Petroleum from $224.00 to $260.00 in a report on Tuesday, May 26th. Finally, Piper Sandler lifted their price target on Marathon Petroleum from $197.00 to $228.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Ten equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and a consensus target price of $291.50.

Marathon Petroleum Stock Performance

Shares of MPC opened at $316.17 on Thursday. The firm has a market cap of $92.30 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 0.43 and a beta of 0.52. The company’s fifty day moving average is $266.31 and its 200-day moving average is $231.05. The company has a quick ratio of 0.73, a current ratio of 1.18 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 $326.92.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.91. The business had revenue of $34.20 billion during the quarter, compared to analyst estimates of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. Marathon Petroleum’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.24) EPS. Equities analysts expect that Marathon Petroleum Corporation will post 35.82 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Wednesday, May 20th. Marathon Petroleum’s dividend payout ratio is 26.11%.

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.