SteelPeak Wealth LLC Buys 11,947 Shares of Marathon Petroleum Corporation $MPC

SteelPeak Wealth LLC boosted its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 94.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,639 shares of the oil and gas company’s stock after acquiring an additional 11,947 shares during the quarter. SteelPeak Wealth LLC’s holdings in Marathon Petroleum were worth $4,093,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC increased its stake in Marathon Petroleum by 1,546.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 201 shares during the last quarter. Hughes Financial Services LLC bought a new position in shares of Marathon Petroleum during the first quarter valued at approximately $32,000. WPG Advisers LLC bought a new position in shares of Marathon Petroleum during the first quarter valued at approximately $32,000. Decker Retirement Planning Inc. grew its stake in shares of Marathon Petroleum by 1,621.4% during the first quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 227 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC bought a new position in shares of Marathon Petroleum during the first quarter valued at approximately $35,000. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Stock Up 0.1%

Shares of NYSE MPC opened at $193.34 on Tuesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. The firm has a market capitalization of $58.78 billion, a price-to-earnings ratio of 28.69, a PEG ratio of 3.35 and a beta of 0.90. The stock has a 50 day moving average price of $177.39 and a 200 day moving average price of $162.63. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $201.61.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.74. The business had revenue of $34.10 billion for the quarter, compared to analysts’ expectations of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The business’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same quarter last year, the firm earned $4.12 EPS. Sell-side analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio (DPR) is 54.01%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Citigroup upped their target price on Marathon Petroleum from $144.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. Morgan Stanley upped 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. Mizuho upped their target price on Marathon Petroleum from $184.00 to $188.00 and gave the company a “neutral” rating in a research note on Monday, September 15th. TD Cowen lowered their price target on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Finally, Raymond James Financial boosted their price target on Marathon Petroleum from $195.00 to $199.00 and gave the company an “outperform” rating in a report on Tuesday, September 9th. Eight research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $196.29.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the sale, the insider owned 28,700 shares of the company’s stock, valued at approximately $4,678,100. This trade represents a 27.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.25% of the company’s stock.

Marathon Petroleum 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.