Simplicity Wealth LLC Purchases 444 Shares of Marathon Petroleum Co. (NYSE:MPC)

Simplicity Wealth LLC lifted its position in Marathon Petroleum Co. (NYSE:MPC) by 16.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,213 shares of the oil and gas company’s stock after purchasing an additional 444 shares during the quarter. Simplicity Wealth LLC’s holdings in Marathon Petroleum were worth $468,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Fourth Dimension Wealth LLC bought a new stake in shares of Marathon Petroleum in the fourth quarter worth about $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Marathon Petroleum in the fourth quarter worth about $27,000. Asset Planning Inc bought a new stake in shares of Marathon Petroleum in the fourth quarter worth about $28,000. Sierra Ocean LLC bought a new stake in Marathon Petroleum during the fourth quarter worth approximately $31,000. Finally, Cape Investment Advisory Inc. increased its stake in Marathon Petroleum by 762.9% during the fourth quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 267 shares during the last quarter. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Stock Up 1.3%

Shares of NYSE MPC opened at $164.71 on Thursday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The firm has a market capitalization of $50.60 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 3.11 and a beta of 0.89. The stock has a 50 day moving average price of $145.66 and a 200 day moving average price of $146.32. Marathon Petroleum Co. has a 52-week low of $115.10 and a 52-week high of $183.31.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.16. The firm had revenue of $31.85 billion during the quarter, compared to analyst estimates of $28.91 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. Marathon Petroleum’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.58 earnings per share. Sell-side analysts expect that Marathon Petroleum Co. 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 Tuesday, June 10th. Shareholders of record on Wednesday, May 21st were issued a dividend of $0.91 per share. The ex-dividend date was Wednesday, May 21st. This represents a $3.64 dividend on an annualized basis and a yield of 2.21%. Marathon Petroleum’s dividend payout ratio is currently 51.20%.

Wall Street Analyst Weigh In

MPC has been the topic of several analyst reports. TD Cowen boosted their price objective on Marathon Petroleum from $152.00 to $163.00 and gave the stock a “buy” rating in a research note on Tuesday. Scotiabank reduced their price objective on Marathon Petroleum from $169.00 to $147.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Wells Fargo & Company boosted their price objective on Marathon Petroleum from $180.00 to $182.00 and gave the stock an “overweight” rating in a research note on Wednesday. Piper Sandler reduced their price objective on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Finally, Raymond James reduced their price objective on Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $176.21.

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.