Confluence Wealth Services Inc. Raises Holdings in Marathon Petroleum Corporation $MPC

Confluence Wealth Services Inc. increased its position in Marathon Petroleum Corporation (NYSE:MPC) by 1.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 25,470 shares of the oil and gas company’s stock after acquiring an additional 411 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Marathon Petroleum were worth $4,231,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Baker Tilly Wealth Management LLC raised its position in shares of Marathon Petroleum by 2.8% in the second quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company’s stock valued at $370,000 after purchasing an additional 60 shares during the period. CHICAGO TRUST Co NA grew its stake in Marathon Petroleum by 3.9% in the 2nd quarter. CHICAGO TRUST Co NA now owns 1,684 shares of the oil and gas company’s stock valued at $280,000 after buying an additional 63 shares in the last quarter. Sunpointe LLC raised its holdings in Marathon Petroleum by 4.1% during the 2nd quarter. Sunpointe LLC now owns 1,750 shares of the oil and gas company’s stock valued at $291,000 after acquiring an additional 69 shares during the period. Beverly Hills Private Wealth LLC raised its holdings in Marathon Petroleum by 1.3% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 6,739 shares of the oil and gas company’s stock valued at $982,000 after acquiring an additional 84 shares during the period. Finally, Valmark Advisers Inc. lifted its position in shares of Marathon Petroleum by 2.3% during the first quarter. Valmark Advisers Inc. now owns 3,801 shares of the oil and gas company’s stock worth $554,000 after acquiring an additional 86 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Up 0.6%

MPC stock opened at $193.31 on Monday. The company’s 50 day moving average is $177.02 and its 200 day moving average is $162.33. The stock has a market cap of $58.77 billion, a price-to-earnings ratio of 28.68, a price-to-earnings-growth ratio of 3.35 and a beta of 0.90. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year 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 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.74. The business had revenue of $34.10 billion during 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 quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.12 EPS. Sell-side analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MPC. TD Cowen decreased their price objective on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Evercore ISI upped their price target on Marathon Petroleum from $170.00 to $210.00 and gave the company an “in-line” rating in a research report on Friday, September 19th. Dbs Bank raised shares of Marathon Petroleum to a “moderate buy” rating in a report on Monday, July 28th. Bank of America boosted their price objective on shares of Marathon Petroleum from $184.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, September 3rd. Finally, Piper Sandler upped their target price on shares of Marathon Petroleum from $184.00 to $222.00 and gave the stock a “neutral” rating in a report on Thursday, September 11th. Eight 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 has a consensus rating of “Hold” and an average target price of $196.29.

Insiders Place Their Bets

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the firm’s stock in a transaction dated 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 in the company, valued at $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.21% of the stock is owned by insiders.

Marathon Petroleum Company 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.