LRI Investments LLC Increases Stock Position in Marathon Petroleum Corporation $MPC

LRI Investments LLC boosted its stake in Marathon Petroleum Corporation (NYSE:MPC) by 29.9% during the 2nd quarter, Holdings Channel reports. The firm owned 1,605 shares of the oil and gas company’s stock after buying an additional 369 shares during the quarter. LRI Investments LLC’s holdings in Marathon Petroleum were worth $267,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Good Steward Wealth Advisors LLC purchased a new stake in shares of Marathon Petroleum in the first quarter worth about $346,000. Silver Oak Securities Incorporated purchased a new stake in shares of Marathon Petroleum during the 1st quarter worth approximately $339,000. Financial Partners Group LLC raised its holdings in shares of 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 in the last quarter. Oppenheimer Asset Management Inc. raised its stake in Marathon Petroleum by 8.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 44,387 shares of the oil and gas company’s stock valued at $6,467,000 after purchasing an additional 3,291 shares in the last quarter. Finally, Jump Financial LLC raised its stake in Marathon Petroleum by 128.0% during the first quarter. Jump Financial LLC now owns 8,663 shares of the oil and gas company’s stock valued at $1,262,000 after purchasing an additional 4,863 shares in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on MPC. Scotiabank restated an “outperform” rating on shares of Marathon Petroleum in a research report on Thursday. Citigroup upped their target price on shares of Marathon Petroleum from $144.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. Piper Sandler upped their price objective on Marathon Petroleum from $184.00 to $222.00 and gave the company a “neutral” rating in a research report on Thursday, September 11th. 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 report on Wednesday, August 6th. Finally, Bank of America increased their price target on Marathon Petroleum from $184.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, September 3rd. Eight equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $198.92.

Insider Activity at Marathon Petroleum

In other news, insider Molly R. Benson sold 10,879 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider directly owned 28,700 shares of the company’s stock, valued at approximately $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.25% of the company’s stock.

Marathon Petroleum Trading Down 3.5%

Shares of NYSE MPC opened at $181.08 on Monday. 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 business’s 50 day moving average price is $178.73 and its 200-day moving average price is $163.71. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $201.61. The company has a market cap of $55.05 billion, a price-to-earnings ratio of 26.87, a PEG ratio of 3.04 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The business had revenue of $34.10 billion for the quarter, compared to analyst estimates of $31.70 billion. During the same quarter last year, the firm posted $4.12 earnings per share. The business’s revenue was down 11.1% compared to the same quarter last year. On average, sell-side analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The business also recently declared 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 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 (DPR) is currently 54.01%.

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.