Marathon Petroleum Corporation $MPC is Turn8 Private Wealth Inc.’s 7th Largest Position

Turn8 Private Wealth Inc. grew its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 12.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,314 shares of the oil and gas company’s stock after acquiring an additional 2,535 shares during the quarter. Marathon Petroleum comprises about 3.6% of Turn8 Private Wealth Inc.’s holdings, making the stock its 7th largest position. Turn8 Private Wealth Inc.’s holdings in Marathon Petroleum were worth $5,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the stock. Navalign LLC acquired a new position in Marathon Petroleum during the fourth quarter worth approximately $30,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Marathon Petroleum in the 4th quarter valued at $31,000. Berbice Capital Management LLC boosted its holdings in shares of Marathon Petroleum by 100.0% in the 4th quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 100 shares during the last quarter. WFA of San Diego LLC purchased a new stake in shares of Marathon Petroleum during the 2nd quarter valued at $33,000. Finally, Ares Financial Consulting LLC acquired a new stake in shares of Marathon Petroleum during the 4th quarter worth $34,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MPC has been the topic of a number of research analyst reports. The Goldman Sachs Group lifted their target price on Marathon Petroleum from $264.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, May 7th. TD Cowen dropped their price target on Marathon Petroleum from $320.00 to $315.00 and set a “buy” rating for the company in a research note on Monday, June 29th. Morgan Stanley raised their price objective on Marathon Petroleum from $233.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Citigroup lifted their price objective on Marathon Petroleum from $243.00 to $257.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings cut Marathon Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Ten 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $272.62.

Marathon Petroleum Stock Up 0.1%

Shares of NYSE MPC opened at $266.50 on Friday. Marathon Petroleum Corporation has a 12-month low of $158.00 and a 12-month high of $272.46. The company has a market cap of $77.80 billion, a P/E ratio of 17.40, a P/E/G ratio of 0.39 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. The stock has a fifty day moving average price of $252.10 and a 200 day moving average price of $218.93.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.91. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The company had revenue of $34.20 billion for the quarter, compared to analysts’ expectations of $33.42 billion. During the same quarter in the previous year, the firm posted ($0.24) earnings per share. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. Research analysts anticipate that Marathon Petroleum Corporation will post 32.96 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $4.00 annualized dividend and a yield of 1.5%. Marathon Petroleum’s payout ratio is 26.11%.

Insiders Place Their Bets

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the completion of the transaction, the vice president owned 16,900 shares in the company, valued at $4,543,058. This represents a 27.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is currently owned by corporate insiders.

Marathon Petroleum Profile

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.