HBK Sorce Advisory LLC Purchases Shares of 4,347 Marathon Petroleum Corporation $MPC

HBK Sorce Advisory LLC bought a new position in Marathon Petroleum Corporation (NYSE:MPC) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 4,347 shares of the oil and gas company’s stock, valued at approximately $1,294,000.

Several other large investors have also recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Marathon Petroleum by 3.2% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,288 shares of the oil and gas company’s stock worth $329,000 after acquiring an additional 40 shares during the last quarter. Equitable Trust Co. lifted its stake in Marathon Petroleum by 1.6% in the first quarter. Equitable Trust Co. now owns 2,637 shares of the oil and gas company’s stock worth $644,000 after purchasing an additional 42 shares during the last quarter. Bartlett & CO. Wealth Management LLC boosted its position in Marathon Petroleum by 0.4% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 9,548 shares of the oil and gas company’s stock valued at $2,411,000 after buying an additional 42 shares during the period. Wellington Grp LLC boosted its position in Marathon Petroleum by 9.6% during the first quarter. Wellington Grp LLC now owns 516 shares of the oil and gas company’s stock valued at $126,000 after buying an additional 45 shares during the period. Finally, Avior Wealth Management LLC grew its stake in shares of Marathon Petroleum by 2.2% during the second quarter. Avior Wealth Management LLC now owns 2,108 shares of the oil and gas company’s stock valued at $539,000 after buying an additional 46 shares during the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Performance

Shares of NYSE:MPC opened at $355.61 on Monday. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19. The company has a 50-day moving average price of $287.31 and a 200-day moving average price of $248.19. The company has a market cap of $103.82 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52. Marathon Petroleum Corporation has a 12 month low of $160.87 and a 12 month high of $360.10.

Marathon Petroleum (NYSE:MPC) last posted its 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. The company had revenue of $51.99 billion for the quarter, compared to analysts’ expectations of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.Marathon Petroleum’s quarterly revenue was up 53.5% on a year-over-year basis. During the same period last year, the firm earned $3.96 earnings per share. As a group, equities analysts anticipate that Marathon Petroleum Corporation will post 46.66 EPS for the current year.

Marathon Petroleum Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on MPC. Bank of America boosted their target price on Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. Piper Sandler raised their price target on Marathon Petroleum from $343.00 to $344.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Scotiabank lifted their price target on Marathon Petroleum from $174.00 to $210.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. Wells Fargo & Company boosted their price objective on Marathon Petroleum from $344.00 to $359.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Finally, Raymond James Financial increased their price objective on Marathon Petroleum from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and an average target price of $312.50.

Insider Transactions at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction dated 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 completion of the transaction, the vice president directly owned 16,900 shares of the company’s stock, valued at $4,543,058. This represents a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is currently owned by 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.