Harbour Wealth Management Group Inc. Invests $571,000 in Marathon Petroleum Corporation $MPC

Harbour Wealth Management Group Inc. purchased a new stake in Marathon Petroleum Corporation (NYSE:MPC) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 3,508 shares of the oil and gas company’s stock, valued at approximately $571,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new stake in Marathon Petroleum in the fourth quarter worth $472,312,000. Capital Wealth Planning LLC increased its position in shares of Marathon Petroleum by 49,392.0% in the 4th quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock valued at $245,157,000 after buying an additional 1,495,097 shares in the last quarter. Man Group plc increased its position in shares of Marathon Petroleum by 2,175.0% in the 4th quarter. Man Group plc now owns 568,790 shares of the oil and gas company’s stock valued at $92,502,000 after buying an additional 543,788 shares in the last quarter. Victory Capital Management Inc. raised its stake in Marathon Petroleum by 104.8% during the 4th quarter. Victory Capital Management Inc. now owns 1,055,897 shares of the oil and gas company’s stock worth $171,721,000 after buying an additional 540,283 shares during the period. Finally, Voloridge Investment Management LLC bought a new position in Marathon Petroleum during the fourth quarter worth about $41,154,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum News Roundup

Here are the key news stories impacting Marathon Petroleum this week:

• Positive Sentiment: Wall Street’s broadly bullish analyst views suggest investors still see upside potential in Marathon Petroleum, even after its strong recent performance. Is It Worth Investing in Marathon Petroleum (MPC) Based on Wall Street’s Bullish Views?
• Positive Sentiment: One market analysis said MPC could be about 5.5% undervalued, which may attract value-focused buyers if investors believe the refining business remains resilient. Marathon Petroleum (MPC) Stock Could Be 5.5% Undervalued Despite Its Strong Run
• Neutral Sentiment: Recent coverage comparing MPC with Delek and other refiners is keeping attention on valuation and earnings revisions, but it does not point to a clear near-term catalyst on its own. Delek vs. Marathon Petroleum: Which Stock Offers Better Refining Bet?
• Negative Sentiment: A trading-day recap noted that MPC declined more than the broader market, signaling some profit-taking or weaker sentiment in the near term. Marathon Petroleum (MPC) Sees a More Significant Dip Than Broader Market: Some Facts to Know
• Negative Sentiment: Oil-market headlines about the Strait of Hormuz reopening could weigh on refining and energy sentiment if traders expect less geopolitical support for crude prices. Marathon Petroleum (MPC) Faces A New Oil Reality As The Strait Of Hormuz Reopens

Insider Activity

In other news, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total value of $1,703,243.52. Following the sale, the vice president owned 16,900 shares of the company’s stock, valued at $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.17% of the stock is owned by company insiders.

Marathon Petroleum Stock Down 0.6%

MPC stock opened at $243.11 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.18 and a quick ratio of 0.73. The stock has a market capitalization of $70.97 billion, a P/E ratio of 15.87, a P/E/G ratio of 0.38 and a beta of 0.52. Marathon Petroleum Corporation has a fifty-two week low of $158.00 and a fifty-two week high of $272.46. The business has a 50-day moving average of $244.96 and a 200-day moving average of $214.12.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.91. The business had revenue of $34.20 billion for the quarter, compared to analyst estimates of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.Marathon Petroleum’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.24) EPS. On average, sell-side analysts anticipate that Marathon Petroleum Corporation will post 31.35 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were issued a $1.00 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.6%. Marathon Petroleum’s dividend payout ratio (DPR) is 26.11%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MPC. Scotiabank increased their price target on Marathon Petroleum from $174.00 to $210.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 22nd. UBS Group set a $285.00 price objective on Marathon Petroleum in a research report on Wednesday, May 6th. JPMorgan Chase & Co. increased their target price on Marathon Petroleum from $235.00 to $257.00 in a research note on Wednesday, May 6th. Morgan Stanley lifted their price target on shares of Marathon Petroleum from $233.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Finally, Barclays upped their price target on shares of Marathon Petroleum from $230.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and an average target price of $272.94.

About Marathon Petroleum

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.