Sovereign Financial Group Inc. Invests $223,000 in Marathon Petroleum Corporation $MPC

Sovereign Financial Group Inc. purchased a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,344 shares of the oil and gas company’s stock, valued at approximately $223,000.

Several other institutional investors have also recently added to or reduced their stakes in MPC. CBIZ Investment Advisory Services LLC increased its holdings in Marathon Petroleum by 1,546.2% in 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 last quarter. Hughes Financial Services LLC acquired a new stake in Marathon Petroleum in the 1st quarter valued at approximately $32,000. WPG Advisers LLC acquired a new stake in Marathon Petroleum in the 1st quarter valued at approximately $32,000. Decker Retirement Planning Inc. increased its holdings in Marathon Petroleum by 1,621.4% in the 1st quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 227 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC acquired a new stake in Marathon Petroleum in the 1st quarter valued at approximately $35,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Activity

In other news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction 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 directly owned 28,700 shares of the company’s stock, valued at approximately $4,678,100. The trade was a 27.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MPC shares. Piper Sandler lifted their target price on shares of Marathon Petroleum from $184.00 to $222.00 and gave the company a “neutral” rating in a report on Thursday, September 11th. Weiss Ratings restated a “hold (c)” rating on shares of Marathon Petroleum in a research note on Wednesday, October 8th. BMO Capital Markets boosted their price target on shares of Marathon Petroleum from $195.00 to $208.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Bank of America boosted their price target on shares of Marathon Petroleum from $184.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 3rd. Finally, Raymond James Financial boosted their price target on shares of Marathon Petroleum from $195.00 to $199.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 9th. Eight analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $198.92.

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $181.08 on Monday. The stock has a market cap of $55.05 billion, a P/E ratio of 26.87, a price-to-earnings-growth ratio of 3.04 and a beta of 0.90. The company has a fifty day simple moving average of $178.73 and a 200-day simple moving average of $163.71. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $201.61. 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 (NYSE:MPC) last released its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.74. The business had revenue of $34.10 billion during the quarter, compared to analysts’ expectations of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The company’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same period in the previous year, the company earned $4.12 EPS. Equities analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, August 20th. Marathon Petroleum’s payout ratio is 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.