49 Wealth Management LLC Purchases New Position in Marathon Petroleum Corporation $MPC

49 Wealth Management LLC acquired a new stake in Marathon Petroleum Corporation (NYSE:MPC) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 6,073 shares of the oil and gas company’s stock, valued at approximately $1,553,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. purchased a new position in Marathon Petroleum in the second quarter valued at about $6,648,958,000. Bank of New York Mellon Corp acquired a new stake in shares of Marathon Petroleum in the 2nd quarter worth $1,029,611,000. Norges Bank purchased a new position in Marathon Petroleum during the 4th quarter worth $472,312,000. Bank of America Corp DE purchased a new position in Marathon Petroleum during the 2nd quarter worth $621,832,000. Finally, Capital Wealth Planning LLC increased its stake in Marathon Petroleum by 49,392.0% during 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 purchasing an additional 1,495,097 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Up 1.5%

MPC opened at $369.00 on Friday. Marathon Petroleum Corporation has a fifty-two week low of $161.93 and a fifty-two week high of $369.12. The business has a 50-day moving average of $308.87 and a 200-day moving average of $260.20. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89. The company has a market capitalization of $107.73 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 0.24 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The company had revenue of $51.99 billion for the quarter, compared to analyst estimates of $40.87 billion. During the same period last year, the business posted $3.96 EPS. The business’s quarterly revenue was up 53.5% on a year-over-year basis. Equities research analysts forecast that Marathon Petroleum Corporation will post 46.66 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.1%. Marathon Petroleum’s payout ratio is 13.75%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MPC shares. Jefferies Financial Group set a $335.00 target price on shares of Marathon Petroleum and gave the stock a “buy” rating in a research note on Sunday, July 12th. Zacks Research cut shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 17th. Morgan Stanley increased their price target on Marathon Petroleum from $233.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Citigroup boosted their target price on shares of Marathon Petroleum from $303.00 to $318.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Finally, Mizuho increased their price target on Marathon Petroleum from $284.00 to $304.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and a consensus price target of $312.50.

Insider Buying and Selling

In other Marathon Petroleum news, SVP Shawn M. Lyon sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $350.00, for a total value of $875,000.00. Following the sale, the senior vice president owned 12,619 shares in the company, valued at approximately $4,416,650. The trade was a 16.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Molly R. Benson sold 17,196 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $358.57, for a total value of $6,165,969.72. Following the sale, the insider owned 30,334 shares in the company, valued at $10,876,862.38. The trade was a 36.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 26,032 shares of company stock valued at $8,744,213. 0.17% of the stock is owned by company insiders.

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.