Jupiter Wealth Management LLC Purchases Shares of 10,000 Marathon Petroleum Corporation $MPC

Jupiter Wealth Management LLC acquired a new position in Marathon Petroleum Corporation (NYSE:MPC) in the second quarter, Holdings Channel.com reports. The firm acquired 10,000 shares of the oil and gas company’s stock, valued at approximately $2,557,000. Marathon Petroleum accounts for approximately 1.0% of Jupiter Wealth Management LLC’s investment portfolio, making the stock its 25th biggest position.

Several other institutional investors have also recently modified their holdings of MPC. Vise Technologies Inc. purchased a new position in shares of Marathon Petroleum during the 2nd quarter valued at about $5,274,000. E Fund Management Co. Ltd. purchased a new stake in Marathon Petroleum in the second quarter worth approximately $267,000. MSH Capital Advisors LLC bought a new position in Marathon Petroleum during the second quarter valued at approximately $469,000. Live Oak Investment Partners bought a new position in Marathon Petroleum during the second quarter valued at approximately $707,000. Finally, Frazier Financial Advisors LLC purchased a new position in shares of Marathon Petroleum during the second quarter worth approximately $36,000. 76.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Shawn M. Lyon sold 2,500 shares of Marathon Petroleum stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $350.00, for a total value of $875,000.00. Following the sale, the senior vice president owned 12,619 shares in the company, valued at $4,416,650. The trade was a 16.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the transaction, the vice president directly owned 16,900 shares in the company, valued at approximately $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

MPC has been the subject of a number of recent research reports. Bank of America boosted their price objective on shares of Marathon Petroleum from $224.00 to $260.00 in a report on Tuesday, May 26th. BMO Capital Markets reiterated an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, June 12th. Piper Sandler boosted their price target on shares of Marathon Petroleum from $343.00 to $344.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Morgan Stanley upped their price target on shares of Marathon Petroleum from $233.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Finally, Raymond James Financial raised their price objective on Marathon Petroleum from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $312.50.

Marathon Petroleum Stock Down 0.6%

Shares of NYSE:MPC opened at $358.71 on Friday. Marathon Petroleum Corporation has a 1 year low of $161.93 and a 1 year high of $367.60. The company has a market cap of $104.72 billion, a PE ratio of 12.33, 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 stock’s 50-day moving average is $295.27 and its 200 day moving average is $253.47.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results 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 business had revenue of $51.99 billion during the quarter, compared to analyst estimates of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.Marathon Petroleum’s quarterly revenue was up 53.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.96 EPS. Sell-side analysts anticipate that Marathon Petroleum Corporation will post 46.66 EPS for the current year.

Marathon Petroleum Dividend Announcement

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

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.