Empirical Financial Services LLC d.b.a. Empirical Wealth Management Buys 107 Shares of Marathon Petroleum Corporation $MPC

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in Marathon Petroleum Corporation (NYSE:MPC) by 3.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,194 shares of the oil and gas company’s stock after buying an additional 107 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Marathon Petroleum were worth $531,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in MPC. Brighton Jones LLC lifted its position in shares of 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 worth $696,000 after purchasing an additional 1,178 shares during the period. NBC Securities Inc. lifted its holdings in Marathon Petroleum by 47,033.3% in the first quarter. NBC Securities Inc. now owns 1,414 shares of the oil and gas company’s stock valued at $206,000 after buying an additional 1,411 shares during the period. Procyon Advisors LLC acquired a new stake in Marathon Petroleum during the 1st quarter worth about $860,000. Gateway Investment Advisers LLC raised its position in shares of Marathon Petroleum by 5.2% in the 1st quarter. Gateway Investment Advisers LLC now owns 36,833 shares of the oil and gas company’s stock worth $5,366,000 after acquiring an additional 1,830 shares in the last quarter. Finally, Sivia Capital Partners LLC lifted its stake in shares of Marathon Petroleum by 7.7% in the 1st quarter. Sivia Capital Partners LLC now owns 1,755 shares of the oil and gas company’s stock valued at $256,000 after purchasing an additional 126 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Price Performance

MPC opened at $193.31 on Monday. The firm’s fifty day moving average price is $177.02 and its two-hundred day moving average price is $162.33. The company has a market capitalization of $58.77 billion, a price-to-earnings ratio of 28.68, a P/E/G ratio of 3.35 and a beta of 0.90. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $201.61.

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

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, August 20th. Marathon Petroleum’s payout ratio is 54.01%.

Insiders Place Their Bets

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the business’s stock in a transaction dated 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 transaction, the insider directly owned 28,700 shares in the company, valued at $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Barclays boosted their price target on Marathon Petroleum from $159.00 to $189.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Bank of America increased their target price on shares of Marathon Petroleum from $184.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 3rd. Scotiabank reaffirmed an “outperform” rating on shares of Marathon Petroleum in a research note on Friday, July 11th. Morgan Stanley raised their target price on Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Piper Sandler upped their price target on Marathon Petroleum from $184.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, September 11th. Eight equities research 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.com, the company has a consensus rating of “Hold” and an average target price of $196.29.

Marathon Petroleum Company Profile

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.