EverSource Wealth Advisors LLC Acquires 5,022 Shares of Marathon Petroleum Corporation $MPC

EverSource Wealth Advisors LLC increased its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 55.1% during the first quarter, HoldingsChannel reports. The fund owned 14,135 shares of the oil and gas company’s stock after acquiring an additional 5,022 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Marathon Petroleum were worth $3,451,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Navalign LLC bought a new stake in Marathon Petroleum during the 4th quarter worth approximately $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in Marathon Petroleum during the fourth quarter worth $31,000. Berbice Capital Management LLC lifted its stake in Marathon Petroleum by 100.0% during the 4th quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 100 shares in the last quarter. WFA of San Diego LLC purchased a new position in Marathon Petroleum during the 2nd quarter worth $33,000. Finally, Ares Financial Consulting LLC bought a new stake in shares of Marathon Petroleum in the 4th quarter worth $34,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Mizuho boosted their price target on shares of Marathon Petroleum from $224.00 to $284.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Barclays lifted their target price on shares of Marathon Petroleum from $270.00 to $289.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. UBS Group restated a “buy” rating and issued a $321.00 target price on shares of Marathon Petroleum in a research note on Friday, July 10th. The Goldman Sachs Group increased their price target on Marathon Petroleum from $291.00 to $376.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $344.00 price target on shares of Marathon Petroleum in a report on Monday, June 15th. Eleven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $298.69.

Insider Activity

In other news, VP Michael A. Henschen II sold 6,336 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the transaction, the vice president owned 16,900 shares of the company’s stock, valued at $4,543,058. This represents a 27.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is currently owned by insiders.

Marathon Petroleum Stock Up 1.0%

Marathon Petroleum stock opened at $309.09 on Thursday. Marathon Petroleum Corporation has a twelve month low of $158.00 and a twelve month high of $326.92. The firm has a 50 day moving average price of $271.59 and a 200-day moving average price of $235.89. The company has a market capitalization of $90.24 billion, a P/E ratio of 20.18, a P/E/G ratio of 0.19 and a beta of 0.52. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.91. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The company had revenue of $34.20 billion for the quarter, compared to analysts’ expectations of $33.42 billion. During the same quarter in the previous year, the firm posted ($0.24) EPS. Marathon Petroleum’s revenue was up 8.5% on a year-over-year basis. As a group, equities analysts predict that Marathon Petroleum Corporation will post 43.19 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 26.11%.

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.