Atria Investments Inc Buys 1,533 Shares of Marathon Petroleum Corporation $MPC

Atria Investments Inc lifted its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 4.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,304 shares of the oil and gas company’s stock after purchasing an additional 1,533 shares during the period. Atria Investments Inc’s holdings in Marathon Petroleum were worth $6,529,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC grew its stake in Marathon Petroleum by 30.9% in the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock valued at $696,000 after buying an additional 1,178 shares during the last quarter. Ameritas Advisory Services LLC grew its stake in Marathon Petroleum by 11.0% in the 1st quarter. Ameritas Advisory Services LLC now owns 3,159 shares of the oil and gas company’s stock valued at $445,000 after buying an additional 312 shares during the last quarter. DAVENPORT & Co LLC grew its stake in Marathon Petroleum by 1.2% in the 1st quarter. DAVENPORT & Co LLC now owns 33,681 shares of the oil and gas company’s stock valued at $4,899,000 after buying an additional 385 shares during the last quarter. Keybank National Association OH grew its stake in Marathon Petroleum by 14.1% in the 1st quarter. Keybank National Association OH now owns 31,319 shares of the oil and gas company’s stock valued at $4,563,000 after buying an additional 3,865 shares during the last quarter. Finally, Aaron Wealth Advisors LLC grew its stake in Marathon Petroleum by 10.6% in the 1st quarter. Aaron Wealth Advisors LLC now owns 2,580 shares of the oil and gas company’s stock valued at $376,000 after buying an additional 247 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on MPC shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Marathon Petroleum in a research note on Wednesday, October 8th. BMO Capital Markets upped their price target on shares of Marathon Petroleum from $195.00 to $208.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Scotiabank reiterated an “outperform” rating on shares of Marathon Petroleum in a research note on Thursday, October 9th. Raymond James Financial restated an “outperform” rating and set a $203.00 target price (up previously from $199.00) on shares of Marathon Petroleum in a research report on Friday, October 17th. Finally, TD Cowen decreased their target price on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus target price of $200.31.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $195.01 on Friday. The company has a 50 day moving average of $186.45 and a 200-day moving average of $169.63. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $201.61. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. The company has a market cap of $59.29 billion, a PE ratio of 28.93, a price-to-earnings-growth ratio of 4.09 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, beating the consensus estimate of $3.22 by $0.74. The business had revenue of $34.10 billion during the quarter, compared to the consensus estimate of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The firm’s revenue was down 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.12 EPS. As a group, equities research analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Wednesday, November 19th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, November 19th. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s payout ratio is currently 54.01%.

Insider Buying and Selling

In related news, insider Molly R. Benson sold 10,879 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $163.00, for a total value of $1,773,277.00. Following the completion of the transaction, the insider owned 28,700 shares of the company’s stock, valued at $4,678,100. This represents a 27.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is currently owned by insiders.

About Marathon Petroleum

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.