Stratos Wealth Partners LTD. Has $3.67 Million Holdings in Marathon Petroleum Corporation $MPC

Stratos Wealth Partners LTD. lifted its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 64.6% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 22,103 shares of the oil and gas company’s stock after buying an additional 8,672 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Marathon Petroleum were worth $3,672,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MPC. Activest Wealth Management boosted its holdings in shares of Marathon Petroleum by 290.2% in the 2nd quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 119 shares in the last quarter. CBIZ Investment Advisory Services LLC increased its position in Marathon Petroleum by 1,546.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 201 shares during the period. Hughes Financial Services LLC bought a new position in shares of Marathon Petroleum in the 1st quarter worth about $32,000. WPG Advisers LLC bought a new position in Marathon Petroleum during the first quarter worth $32,000. Finally, Decker Retirement Planning Inc. boosted its holdings in Marathon Petroleum by 1,621.4% in the first quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 227 shares in the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Stock Performance

Shares of MPC opened at $184.14 on Friday. The stock has a 50 day moving average of $180.61 and a 200 day moving average of $164.88. 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 12 month low of $115.10 and a 12 month high of $201.61. The company has a market capitalization of $55.98 billion, a price-to-earnings ratio of 27.32, a PEG ratio of 2.88 and a beta of 0.90.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.74. The firm had revenue of $34.10 billion during the quarter, compared to analyst estimates of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The business’s revenue was down 11.1% compared to the same quarter last year. During the same period last year, the firm posted $4.12 EPS. As a group, sell-side analysts forecast that Marathon Petroleum Corporation 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 Wednesday, September 10th. Shareholders 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 2.0%. The ex-dividend date was Wednesday, August 20th. Marathon Petroleum’s payout ratio is presently 54.01%.

Insider Buying and Selling 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 completion of 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MPC has been the subject of a number of analyst reports. Wells Fargo & Company started coverage on shares of Marathon Petroleum in a report on Friday. They set an “overweight” rating and a $214.00 price objective for the company. Barclays boosted their price objective on Marathon Petroleum from $176.00 to $194.00 and gave the stock an “overweight” rating in a report on Monday, October 13th. Piper Sandler raised their target price on Marathon Petroleum from $184.00 to $222.00 and gave the company a “neutral” rating in a report on Thursday, September 11th. Raymond James Financial reiterated an “outperform” rating and set a $203.00 price target (up previously from $199.00) on shares of Marathon Petroleum in a report on Friday. Finally, Citigroup raised their price objective on Marathon Petroleum from $144.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $200.31.

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.