Tulsa Wealth Advisors INC Takes Position in Marathon Petroleum Corporation $MPC

Tulsa Wealth Advisors INC acquired a new position in Marathon Petroleum Corporation (NYSE:MPC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 33,017 shares of the oil and gas company’s stock, valued at approximately $8,442,000. Marathon Petroleum makes up about 1.2% of Tulsa Wealth Advisors INC’s investment portfolio, making the stock its 19th biggest position.

Several other large investors have also added to or reduced their stakes in MPC. MassMutual Private Wealth & Trust FSB grew its position in Marathon Petroleum by 3.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,288 shares of the oil and gas company’s stock valued at $329,000 after purchasing an additional 40 shares in the last quarter. Equitable Trust Co. lifted its position in Marathon Petroleum by 1.6% during the 1st quarter. Equitable Trust Co. now owns 2,637 shares of the oil and gas company’s stock worth $644,000 after buying an additional 42 shares in the last quarter. Bartlett & CO. Wealth Management LLC lifted its position in Marathon Petroleum by 0.4% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 9,548 shares of the oil and gas company’s stock worth $2,411,000 after buying an additional 42 shares in the last quarter. Wellington Grp LLC boosted its stake in shares of Marathon Petroleum by 9.6% during the 1st quarter. Wellington Grp LLC now owns 516 shares of the oil and gas company’s stock worth $126,000 after buying an additional 45 shares during the last quarter. Finally, Avior Wealth Management LLC grew its holdings in shares of Marathon Petroleum by 2.2% in the 2nd quarter. Avior Wealth Management LLC now owns 2,108 shares of the oil and gas company’s stock valued at $539,000 after acquiring an additional 46 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Activity at Marathon Petroleum

In other news, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum 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 transaction, the vice president directly owned 16,900 shares in the company, valued at approximately $4,543,058. The trade was a 27.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Citigroup lifted their target price on Marathon Petroleum from $303.00 to $318.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Zacks Research cut Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 17th. Mizuho raised their price target on Marathon Petroleum from $284.00 to $304.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Jefferies Financial Group set a $335.00 price target on Marathon Petroleum and gave the stock a “buy” rating in a research report on Sunday, July 12th. Finally, Wells Fargo & Company increased their price objective on Marathon Petroleum from $344.00 to $359.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and an average target price of $312.50.

Marathon Petroleum Stock Up 0.1%

Shares of MPC stock opened at $355.61 on Monday. Marathon Petroleum Corporation has a 52-week low of $160.87 and a 52-week high of $360.10. The stock has a market cap of $103.82 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 0.23 and a beta of 0.52. The firm’s 50-day moving average is $287.31 and its 200-day moving average is $248.19. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25.

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

Marathon Petroleum Dividend Announcement

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

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.