Silverlake Wealth Management LLC Takes Position in Marathon Petroleum Corporation $MPC

Silverlake Wealth Management LLC bought a new stake in Marathon Petroleum Corporation (NYSE:MPC) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,466 shares of the oil and gas company’s stock, valued at approximately $375,000.

Several other large investors also recently bought and sold shares of MPC. State Street Corp lifted its position in Marathon Petroleum by 0.3% during the fourth quarter. State Street Corp now owns 17,934,327 shares of the oil and gas company’s stock valued at $2,916,660,000 after purchasing an additional 47,896 shares during the last quarter. Boston Partners increased its holdings in shares of Marathon Petroleum by 2.3% in the 3rd quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company’s stock worth $1,214,522,000 after buying an additional 141,691 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Marathon Petroleum in the 2nd quarter worth about $1,029,611,000. Norges Bank purchased a new stake in shares of Marathon Petroleum during the 4th quarter valued at about $472,312,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Marathon Petroleum by 0.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,818,361 shares of the oil and gas company’s stock valued at $458,350,000 after acquiring an additional 11,693 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of NYSE:MPC opened at $355.61 on Friday. The company has a market capitalization of $103.82 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 0.23 and a beta of 0.52. Marathon Petroleum Corporation has a 12 month low of $160.87 and a 12 month high of $360.10. The firm’s 50-day moving average is $287.31 and its 200 day moving average is $247.66. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, topping analysts’ consensus estimates of $14.27 by $3.46. The company had revenue of $51.99 billion for the quarter, compared to analyst estimates of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The firm’s revenue for the quarter was up 53.5% on a year-over-year basis. During the same period in the prior year, the company posted $3.96 EPS. Research analysts predict that Marathon Petroleum Corporation will post 46.66 EPS for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio is presently 13.75%.

Insider Buying and Selling at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of the firm’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 transaction of $1,703,243.52. Following the completion of the sale, the vice president directly owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wall Street Zen raised Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. TD Cowen raised their price objective on Marathon Petroleum from $357.00 to $375.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Piper Sandler lifted their target price on Marathon Petroleum from $343.00 to $344.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Scotiabank boosted their target price on Marathon Petroleum from $174.00 to $210.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 22nd. Finally, Weiss Ratings raised Marathon Petroleum from a “hold (c+)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus target price of $312.50.

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.