Marathon Petroleum Corporation $MPC Shares Newly Purchased by M Holdings Securities Inc.

M Holdings Securities Inc. purchased a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC) in the third quarter, HoldingsChannel.com reports. The fund purchased 2,456 shares of the oil and gas company’s stock, valued at approximately $1,046,000.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new stake in Marathon Petroleum during the second quarter worth $6,648,958,000. Bank of New York Mellon Corp acquired a new stake in Marathon Petroleum in the second quarter valued at $1,029,611,000. Bank of America Corp DE increased its position in shares of Marathon Petroleum by 1.6% in the first quarter. Bank of America Corp DE now owns 2,595,084 shares of the oil and gas company’s stock valued at $633,668,000 after buying an additional 40,124 shares in the last quarter. Amundi increased its position in shares of Marathon Petroleum by 17.5% in the second quarter. Amundi now owns 2,237,930 shares of the oil and gas company’s stock valued at $572,172,000 after buying an additional 332,551 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Marathon Petroleum by 16.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,508,489 shares of the oil and gas company’s stock worth $385,675,000 after buying an additional 215,686 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Marathon Petroleum stock opened at $389.91 on Tuesday. Marathon Petroleum Corporation has a fifty-two week low of $161.93 and a fifty-two week high of $493.98. The company has a market capitalization of $106.16 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 0.10 and a beta of 0.53. The stock has a fifty day moving average of $422.11 and a two-hundred day moving average of $296.41. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.89 and a current ratio of 1.45.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, November 3rd. The oil and gas company reported $26.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $25.37 by $1.56. Marathon Petroleum had a return on equity of 55.82% and a net margin of 8.27%. The business had revenue of $56.03 billion for the quarter, compared to the consensus estimate of $46.60 billion. During the same period in the prior year, the business earned $3.01 earnings per share. The business’s revenue was up 57.6% on a year-over-year basis. On average, analysts anticipate that Marathon Petroleum Corporation will post 66.31 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, November 18th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 13.75%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Citigroup boosted their price objective on shares of Marathon Petroleum from $318.00 to $518.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 13th. Piper Sandler increased their price objective on shares of Marathon Petroleum from $462.00 to $466.00 and gave the company an “overweight” rating in a research note on Thursday, November 5th. Raymond James Financial raised their target price on shares of Marathon Petroleum from $350.00 to $445.00 and gave the company an “outperform” rating in a report on Monday, September 14th. Bank of America upped their price target on shares of Marathon Petroleum from $410.00 to $426.00 and gave the company a “neutral” rating in a report on Friday, October 2nd. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $433.00 price target on shares of Marathon Petroleum in a research report on Sunday, October 11th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and an average price target of $425.12.

Insider Buying and Selling

In related news, insider Molly Benson sold 17,196 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $358.57, for a total value of $6,165,969.72. Following the completion of the transaction, the insider owned 30,334 shares of the company’s stock, valued at approximately $10,876,862.38. The trade was a 36.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Shawn Lyon sold 1,000 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $375.75, for a total transaction of $375,750.00. Following the completion of the transaction, the senior vice president owned 11,194 shares in the company, valued at approximately $4,206,145.50. This trade represents a 8.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 21,691 shares of company stock worth $7,780,127. 0.17% of the stock is owned by corporate insiders.

Marathon Petroleum Profile

Marathon Petroleum Corporation is an integrated downstream energy company focused on refining, marketing, and transporting petroleum products. Its refineries produce fuels and other products, including gasoline, diesel, jet fuel, asphalt, and petrochemical feedstocks.

The company sells transportation fuels and related products through a network of branded locations and other wholesale and commercial channels, primarily in the United States. Its midstream operations, conducted largely through its affiliated partnership MPLX, include gathering, processing, and transporting natural gas and natural gas liquids, as well as storing and transporting crude oil and refined products.

Marathon Petroleum was established as an independent company in 2011, when it was spun off from Marathon Oil Corporation.