Clark Asset Management LLC Takes $616,000 Position in Marathon Petroleum Corporation $MPC

Clark Asset Management LLC bought a new stake in Marathon Petroleum Corporation (NYSE:MPC) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,522 shares of the oil and gas company’s stock, valued at approximately $616,000.

A number of other institutional investors have also recently bought and sold shares of MPC. Norges Bank bought a new stake in Marathon Petroleum in the fourth quarter valued at approximately $472,312,000. Capital Wealth Planning LLC lifted its position in shares of Marathon Petroleum by 49,392.0% in the fourth quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock valued at $245,157,000 after buying an additional 1,495,097 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Marathon Petroleum by 3,816.8% during the 4th quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company’s stock worth $212,517,000 after acquiring an additional 1,273,386 shares during the period. Man Group plc increased its holdings in shares of Marathon Petroleum by 2,175.0% during the 4th quarter. Man Group plc now owns 568,790 shares of the oil and gas company’s stock worth $92,502,000 after acquiring an additional 543,788 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Marathon Petroleum by 104.8% during the 4th quarter. Victory Capital Management Inc. now owns 1,055,897 shares of the oil and gas company’s stock worth $171,721,000 after acquiring an additional 540,283 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MPC shares. Barclays raised their price target on Marathon Petroleum from $230.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. upped their price objective on shares of Marathon Petroleum from $235.00 to $257.00 in a report on Wednesday, May 6th. Piper Sandler increased their price objective on shares of Marathon Petroleum from $197.00 to $228.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. Mizuho raised their target price on shares of Marathon Petroleum from $224.00 to $284.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $344.00 target price on shares of Marathon Petroleum in a report on Monday, June 15th. Ten investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $272.94.

Insiders Place Their Bets

In other news, VP Michael A. Henschen II sold 6,336 shares of the company’s 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 sale, 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 legal filing with the SEC, which can be accessed through this hyperlink. 0.17% of the stock is owned by corporate insiders.

Marathon Petroleum Stock Up 0.1%

Shares of MPC opened at $243.11 on Monday. Marathon Petroleum Corporation has a 12 month low of $158.00 and a 12 month high of $272.46. The firm’s 50 day moving average is $245.18 and its 200-day moving average is $214.45. The stock has a market capitalization of $70.97 billion, a PE ratio of 15.87, a P/E/G ratio of 0.37 and a beta of 0.52. The company has a current ratio of 1.18, a quick ratio of 0.73 and a debt-to-equity ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.91. The company had revenue of $34.20 billion during the quarter, compared to the consensus estimate of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.24) earnings per share. Equities research analysts forecast that Marathon Petroleum Corporation will post 31.35 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were issued a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $4.00 annualized dividend and a yield of 1.6%. Marathon Petroleum’s payout ratio is currently 26.11%.

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.