Magnolia Wealth Management LLC Takes $1.15 Million Position in Marathon Petroleum Co. (NYSE:MPC)

Magnolia Wealth Management LLC purchased a new stake in shares of Marathon Petroleum Co. (NYSE:MPCGet Rating) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 14,615 shares of the oil and gas company’s stock, valued at approximately $1,145,000.

Other large investors have also recently modified their holdings of the company. Herold Advisors Inc. bought a new stake in shares of Marathon Petroleum during the 1st quarter valued at about $26,000. Riverview Trust Co bought a new stake in Marathon Petroleum in the 1st quarter worth approximately $29,000. Hazlett Burt & Watson Inc. bought a new stake in Marathon Petroleum in the 1st quarter worth approximately $30,000. Dixon Hughes Goodman Wealth Advisors LLC lifted its position in Marathon Petroleum by 138.5% in the 1st quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 353 shares of the oil and gas company’s stock worth $30,000 after buying an additional 205 shares during the last quarter. Finally, DB Wealth Management Group LLC lifted its position in Marathon Petroleum by 886.8% in the 1st quarter. DB Wealth Management Group LLC now owns 375 shares of the oil and gas company’s stock worth $32,000 after buying an additional 337 shares during the last quarter. Institutional investors own 78.69% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on MPC shares. Piper Sandler dropped their target price on Marathon Petroleum from $111.00 to $110.00 and set a “neutral” rating for the company in a research report on Monday. BMO Capital Markets started coverage on Marathon Petroleum in a research report on Monday, June 13th. They issued an “outperform” rating and a $135.00 price objective for the company. Credit Suisse Group boosted their price objective on Marathon Petroleum to $130.00 in a research report on Thursday, June 9th. Wells Fargo & Company lowered their price objective on Marathon Petroleum from $129.00 to $117.00 and set an “overweight” rating for the company in a research report on Wednesday, August 3rd. Finally, StockNews.com upgraded Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $115.58.

Marathon Petroleum Price Performance

MPC opened at $98.32 on Thursday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.10 and a current ratio of 1.49. Marathon Petroleum Co. has a 52-week low of $56.08 and a 52-week high of $114.35. The stock has a market capitalization of $49.02 billion, a PE ratio of 6.60, a price-to-earnings-growth ratio of 0.21 and a beta of 1.70. The stock’s 50 day moving average price is $93.56 and its 200-day moving average price is $90.69.

Marathon Petroleum (NYSE:MPCGet Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The oil and gas company reported $10.61 earnings per share for the quarter, topping the consensus estimate of $4.98 by $5.63. The company had revenue of $54.33 billion for the quarter, compared to analysts’ expectations of $44.26 billion. Marathon Petroleum had a return on equity of 23.85% and a net margin of 5.09%. The firm’s revenue for the quarter was up 82.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.67 earnings per share. On average, equities research analysts predict that Marathon Petroleum Co. will post 21.11 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Wednesday, August 17th were issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend was Tuesday, August 16th. Marathon Petroleum’s dividend payout ratio (DPR) is 15.68%.

Insiders Place Their Bets

In other Marathon Petroleum news, VP Carl Kristopher Hagedorn sold 14,353 shares of the business’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $105.41, for a total value of $1,512,949.73. Following the sale, the vice president now directly owns 7,873 shares of the company’s stock, valued at $829,892.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.28% of the company’s stock.

Marathon Petroleum Profile

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Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. 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.

See Also

Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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