Global Retirement Partners LLC Acquires Shares of 12,769 Marathon Petroleum Corporation $MPC

Global Retirement Partners LLC bought a new stake in Marathon Petroleum Corporation (NYSE:MPC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 12,769 shares of the oil and gas company’s stock, valued at approximately $3,265,000.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp raised its position in shares of Marathon Petroleum by 0.3% in the fourth quarter. State Street Corp now owns 17,934,327 shares of the oil and gas company’s stock valued at $2,916,660,000 after buying an additional 47,896 shares during the last quarter. Boston Partners boosted its position in Marathon Petroleum by 2.3% during the third quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company’s stock worth $1,214,522,000 after acquiring an additional 141,691 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Marathon Petroleum during the second quarter worth about $1,029,611,000. Norges Bank purchased a new stake in Marathon Petroleum during the 4th quarter valued at about $472,312,000. Finally, Charles Schwab Investment Management Inc. raised its holdings 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 valued at $458,350,000 after acquiring an additional 11,693 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Stock Up 0.1%

Shares of NYSE MPC opened at $355.61 on Monday. The company 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 debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89. The company has a 50 day simple moving average of $287.31 and a 200-day simple moving average of $248.19. Marathon Petroleum Corporation has a 1 year low of $160.87 and a 1 year high of $360.10.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, beating analysts’ consensus estimates of $14.27 by $3.46. The firm had revenue of $51.99 billion for the quarter, compared to analysts’ expectations of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The firm’s quarterly revenue was up 53.5% on a year-over-year basis. During the same period in the prior year, the firm posted $3.96 earnings per share. On average, equities research analysts predict that Marathon Petroleum Corporation will post 46.66 earnings per share for the current year.

Marathon Petroleum Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MPC shares. Wells Fargo & Company raised their target price on shares of Marathon Petroleum from $344.00 to $359.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Zacks Research cut Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 17th. Piper Sandler lifted their price objective on Marathon Petroleum from $343.00 to $344.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. TD Cowen boosted their price objective on Marathon Petroleum from $357.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, Scotiabank upped their target price on Marathon Petroleum from $174.00 to $210.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 22nd. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $312.50.

Insider Buying and Selling at Marathon Petroleum

In other news, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction 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 transaction, the vice president directly owned 16,900 shares in the company, valued at approximately $4,543,058. This represents a 27.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

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.