1,133 Marathon Petroleum Corporation $MPC Shares Purchased by Wedmont Private Capital

Wedmont Private Capital boosted its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 16.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,147 shares of the oil and gas company’s stock after buying an additional 1,133 shares during the quarter. Wedmont Private Capital’s holdings in Marathon Petroleum were worth $3,221,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Solstein Capital LLC purchased a new stake in shares of Marathon Petroleum during the 2nd quarter worth approximately $26,000. Caitlin John LLC acquired a new stake in shares of Marathon Petroleum in the 2nd quarter worth approximately $26,000. Bell Investment Advisors Inc purchased a new position in Marathon Petroleum in the 2nd quarter valued at approximately $27,000. Cetera Trust Company N.A acquired a new stake in Marathon Petroleum in the second quarter valued at $35,000. Finally, Frazier Financial Advisors LLC purchased a new position in shares of Marathon Petroleum in the second quarter valued at $36,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Trading Down 2.1%

Marathon Petroleum stock opened at $453.84 on Friday. The stock has a 50-day moving average price of $380.41 and a 200 day moving average price of $300.85. Marathon Petroleum Corporation has a 52 week low of $161.93 and a 52 week high of $470.00. The stock has a market cap of $132.49 billion, a PE ratio of 15.60, a P/E/G ratio of 0.14 and a beta of 0.54. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The company had revenue of $51.99 billion for the quarter, compared to analyst estimates of $40.87 billion. During the same period in the prior year, the firm earned $3.96 EPS. The firm’s quarterly revenue was up 53.5% on a year-over-year basis. Equities research analysts predict that Marathon Petroleum Corporation will post 61.46 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were given a dividend of $1.00 per share. The ex-dividend date was Wednesday, August 19th. This represents a $4.00 dividend on an annualized basis and a yield of 0.9%. Marathon Petroleum’s dividend payout ratio (DPR) is 13.75%.

Insiders Place Their Bets

In other Marathon Petroleum news, VP Erin M. Brzezinski sold 570 shares of the business’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total value of $206,790.30. Following the completion of the transaction, the vice president directly owned 1,576 shares in the company, valued at approximately $571,757.04. The trade was a 26.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Shawn Lyon sold 1,000 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $375.75, for a total value of $375,750.00. Following the transaction, the senior vice president directly owned 11,194 shares in the company, valued at approximately $4,206,145.50. This represents a 8.20% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 21,691 shares of company stock valued at $7,780,127. Company insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Piper Sandler boosted their price objective on shares of Marathon Petroleum from $344.00 to $462.00 and gave the stock an “overweight” rating in a research report on Thursday, September 3rd. Mizuho raised their target price on shares of Marathon Petroleum from $304.00 to $457.00 and gave the company a “neutral” rating in a report on Thursday. The Goldman Sachs Group lifted their target price on shares of Marathon Petroleum from $376.00 to $472.00 and gave the stock a “buy” rating in a research report on Monday, September 21st. TD Cowen upped their price target on shares of Marathon Petroleum from $357.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Finally, Zacks Research raised shares of Marathon Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 4th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and a consensus price target of $383.69.

About Marathon Petroleum

Marathon Petroleum Corporation (NYSE:MPC) is an integrated downstream energy company engaged primarily in refining, marketing and transporting petroleum products. The company converts crude oil and other feedstocks into gasoline, diesel, jet fuel, asphalt, propane and other refined products used by consumers, businesses and industrial customers.

Marathon Petroleum operates refineries and related logistics assets in the United States, with a refining and marketing presence serving markets across the Midwest, Gulf Coast and West Coast.