Wedmont Private Capital Buys 571 Shares of Marathon Petroleum Corporation $MPC

Wedmont Private Capital increased its stake in Marathon Petroleum Corporation (NYSE:MPC) by 9.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,437 shares of the oil and gas company’s stock after purchasing an additional 571 shares during the period. Wedmont Private Capital’s holdings in Marathon Petroleum were worth $1,154,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Good Steward Wealth Advisors LLC bought a new position in Marathon Petroleum in the 1st quarter worth approximately $346,000. Silver Oak Securities Incorporated acquired a new stake in Marathon Petroleum during the 1st quarter worth $339,000. Financial Partners Group LLC grew its holdings in Marathon Petroleum by 65.8% during the 1st quarter. Financial Partners Group LLC now owns 3,937 shares of the oil and gas company’s stock worth $574,000 after acquiring an additional 1,563 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in Marathon Petroleum by 8.0% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 44,387 shares of the oil and gas company’s stock worth $6,467,000 after acquiring an additional 3,291 shares during the period. Finally, Jump Financial LLC grew its holdings in Marathon Petroleum by 128.0% during the 1st quarter. Jump Financial LLC now owns 8,663 shares of the oil and gas company’s stock worth $1,262,000 after acquiring an additional 4,863 shares during the period. Institutional investors own 76.77% of the company’s stock.

Insider Activity

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total value of $1,293,600.00. Following the transaction, the director directly owned 18,944 shares of the company’s stock, valued at $3,315,200. This represents a 28.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Molly R. Benson sold 10,879 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the transaction, the insider directly owned 28,700 shares in the company, valued at approximately $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on MPC shares. Scotiabank reaffirmed an “outperform” rating on shares of Marathon Petroleum in a report on Friday, July 11th. Dbs Bank raised shares of Marathon Petroleum to a “moderate buy” rating in a report on Monday, July 28th. Bank of America upped their target price on shares of Marathon Petroleum from $184.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 3rd. Wells Fargo & Company upped their target price on shares of Marathon Petroleum from $182.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Finally, Raymond James Financial upped their target price on shares of Marathon Petroleum from $195.00 to $199.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 9th. Eight investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, Marathon Petroleum currently has an average rating of “Moderate Buy” and a consensus price target of $189.64.

Marathon Petroleum Stock Up 0.3%

Shares of MPC stock opened at $185.18 on Friday. 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’s 50-day moving average is $173.10 and its 200-day moving average is $158.11. The stock has a market cap of $56.30 billion, a price-to-earnings ratio of 27.47, a PEG ratio of 3.41 and a beta of 0.97. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $186.28.

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

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio is currently 54.01%.

About Marathon Petroleum

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.