Brown Miller Wealth Management LLC Acquires 352 Shares of Marathon Petroleum Corporation $MPC

Brown Miller Wealth Management LLC increased its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 13.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,976 shares of the oil and gas company’s stock after acquiring an additional 352 shares during the quarter. Brown Miller Wealth Management LLC’s holdings in Marathon Petroleum were worth $494,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Marathon Petroleum by 12.3% during the first quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company’s stock valued at $5,090,611,000 after buying an additional 3,834,501 shares during the period. Boston Partners grew its position in shares of Marathon Petroleum by 58.5% during the 1st quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company’s stock valued at $791,274,000 after acquiring an additional 2,011,810 shares during the period. Wellington Management Group LLP increased its stake in shares of Marathon Petroleum by 18.7% during the 1st quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock worth $1,722,664,000 after purchasing an additional 1,862,674 shares during the last quarter. Nuveen LLC bought a new stake in shares of Marathon Petroleum in the 1st quarter worth approximately $147,122,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in Marathon Petroleum by 26.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,675,362 shares of the oil and gas company’s stock valued at $535,465,000 after purchasing an additional 769,015 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $193.31 on Friday. The stock has a market cap of $58.77 billion, a price-to-earnings ratio of 28.68, a PEG ratio of 3.35 and a beta of 0.90. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. The business has a 50-day simple moving average of $177.02 and a 200 day simple moving average of $162.25. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $201.61.

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. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The firm had revenue of $34.10 billion for the quarter, compared to analysts’ expectations of $31.70 billion. During the same quarter last year, the firm posted $4.12 EPS. The company’s revenue was down 11.1% compared to the same quarter last year. On average, research analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were issued a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.9%. Marathon Petroleum’s dividend payout ratio is presently 54.01%.

Insider Buying and Selling at Marathon Petroleum

In related news, insider Molly R. Benson sold 10,879 shares of the company’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $163.00, for a total value 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. The trade was a 27.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MPC. Barclays upped their price target on Marathon Petroleum from $159.00 to $189.00 and gave the company an “overweight” rating in a research report on Friday, July 11th. Citigroup lifted their target price on shares of Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. Wolfe Research cut shares of Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 14th. Scotiabank reiterated an “outperform” rating on shares of Marathon Petroleum in a research note on Friday, July 11th. Finally, TD Cowen dropped their target price on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Eight equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Marathon Petroleum currently has an average rating of “Hold” and a consensus price target of $196.29.

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.