Marathon Petroleum Corporation $MPC Shares Bought by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC raised its stake in Marathon Petroleum Corporation (NYSE:MPC) by 3.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,666 shares of the oil and gas company’s stock after acquiring an additional 781 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Marathon Petroleum were worth $3,599,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MPC. Brighton Jones LLC increased its stake in Marathon Petroleum by 30.9% during the fourth quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock worth $696,000 after acquiring an additional 1,178 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Marathon Petroleum by 3.4% in the first quarter. GAMMA Investing LLC now owns 10,577 shares of the oil and gas company’s stock valued at $1,541,000 after buying an additional 351 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Marathon Petroleum by 2.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 110,599 shares of the oil and gas company’s stock valued at $16,113,000 after buying an additional 2,539 shares in the last quarter. Brown Miller Wealth Management LLC acquired a new stake in shares of Marathon Petroleum in the first quarter valued at about $382,000. Finally, Northstar Group Inc. acquired a new stake in shares of Marathon Petroleum in the first quarter valued at about $221,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on MPC shares. Evercore ISI increased their price target on Marathon Petroleum from $170.00 to $210.00 and gave the company an “in-line” rating in a report on Friday, September 19th. Dbs Bank raised Marathon Petroleum to a “moderate buy” rating in a report on Monday, July 28th. BMO Capital Markets increased their price target on Marathon Petroleum from $195.00 to $208.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Piper Sandler increased their target price on Marathon Petroleum from $184.00 to $222.00 and gave the stock a “neutral” rating in a report on Thursday, September 11th. Finally, UBS Group increased their target price on Marathon Petroleum from $203.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, September 26th. Eight equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $199.31.

Marathon Petroleum Stock Up 1.4%

Shares of Marathon Petroleum stock opened at $183.36 on Tuesday. The business’s fifty day moving average price is $179.03 and its two-hundred day moving average price is $163.99. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71. The company has a market capitalization of $55.75 billion, a P/E ratio of 27.20, a PEG ratio of 3.04 and a beta of 0.90. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $201.61.

Marathon Petroleum (NYSE:MPC) last issued its quarterly 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. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The company had revenue of $34.10 billion for the quarter, compared to analysts’ expectations of $31.70 billion. During the same period last year, the firm earned $4.12 EPS. The firm’s revenue for the quarter was down 11.1% on a year-over-year basis. As a group, research analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently declared 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. The ex-dividend date was Wednesday, August 20th. This represents a $3.64 annualized dividend and a dividend yield of 2.0%. Marathon Petroleum’s dividend payout ratio (DPR) is 54.01%.

Insider Activity at Marathon Petroleum

In other news, insider Molly R. Benson sold 10,879 shares of the firm’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $163.00, for a total value of $1,773,277.00. Following the completion of the sale, the insider owned 28,700 shares of the company’s stock, valued at $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.25% of the stock is currently owned by company insiders.

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.