Marathon Petroleum Corporation $MPC Holdings Increased by Gateway Wealth Partners LLC

Gateway Wealth Partners LLC lifted its stake in Marathon Petroleum Corporation (NYSE:MPC) by 104.8% in the first quarter, HoldingsChannel reports. The fund owned 6,204 shares of the oil and gas company’s stock after purchasing an additional 3,175 shares during the quarter. Gateway Wealth Partners LLC’s holdings in Marathon Petroleum were worth $1,515,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in MPC. OMERS ADMINISTRATION Corp boosted its stake in Marathon Petroleum by 20.8% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 29,191 shares of the oil and gas company’s stock valued at $7,128,000 after purchasing an additional 5,029 shares in the last quarter. 44 Wealth Management LLC acquired a new stake in shares of Marathon Petroleum in the first quarter valued at $662,000. Lombard Odier Asset Management Switzerland SA acquired a new stake in shares of Marathon Petroleum in the first quarter valued at $1,188,000. Waverly Advisors LLC boosted its stake in Marathon Petroleum by 9.8% during the first quarter. Waverly Advisors LLC now owns 25,154 shares of the oil and gas company’s stock valued at $6,142,000 after buying an additional 2,239 shares in the last quarter. Finally, Wealth Alliance LLC bought a new position in Marathon Petroleum during the first quarter valued at about $270,000. 76.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MPC has been the topic of several research reports. Morgan Stanley boosted their price target on shares of Marathon Petroleum from $233.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Raymond James Financial raised their price objective on shares of Marathon Petroleum from $300.00 to $335.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Barclays lifted their price objective on shares of Marathon Petroleum from $270.00 to $289.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. The Goldman Sachs Group boosted their target price on shares of Marathon Petroleum from $291.00 to $376.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Finally, Bank of America increased their target price on shares of Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. Eleven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and an average price target of $298.69.

Insider Activity at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total value of $1,703,243.52. Following the completion of the transaction, the vice president owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.17% of the company’s stock.

Marathon Petroleum Price Performance

NYSE MPC opened at $306.58 on Wednesday. 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 1 year low of $158.00 and a 1 year high of $326.92. The company has a market cap of $89.50 billion, a PE ratio of 20.01, a PEG ratio of 0.20 and a beta of 0.52. The stock’s 50-day moving average price is $270.57 and its two-hundred day moving average price is $234.97.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, topping the consensus estimate of $0.74 by $0.91. The company had revenue of $34.20 billion during the quarter, compared to analysts’ expectations of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period last year, the company posted ($0.24) earnings per share. On average, analysts predict that Marathon Petroleum Corporation will post 43.19 EPS for the current year.

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.