Jacobi Capital Management LLC Grows Stake in Marathon Petroleum Corporation $MPC

Jacobi Capital Management LLC raised its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 6.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,972 shares of the oil and gas company’s stock after acquiring an additional 122 shares during the quarter. Jacobi Capital Management LLC’s holdings in Marathon Petroleum were worth $287,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Good Steward Wealth Advisors LLC purchased a new stake in shares of Marathon Petroleum in the first quarter valued at approximately $346,000. Silver Oak Securities Incorporated purchased a new stake in Marathon Petroleum in the first quarter valued at $339,000. Financial Partners Group LLC boosted its stake in shares of Marathon Petroleum by 65.8% during the 1st quarter. Financial Partners Group LLC now owns 3,937 shares of the oil and gas company’s stock worth $574,000 after acquiring an additional 1,563 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Marathon Petroleum by 8.0% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 44,387 shares of the oil and gas company’s stock worth $6,467,000 after acquiring an additional 3,291 shares in the last quarter. Finally, Jump Financial LLC lifted its stake in Marathon Petroleum by 128.0% in the 1st quarter. Jump Financial LLC now owns 8,663 shares of the oil and gas company’s stock valued at $1,262,000 after buying an additional 4,863 shares in the last quarter. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Trading Down 1.2%

Shares of NYSE:MPC opened at $180.18 on Friday. The company has a market cap of $54.78 billion, a PE ratio of 26.73, a P/E/G ratio of 3.68 and a beta of 0.97. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. The company’s 50-day moving average price is $172.81 and its 200 day moving average price is $157.21. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $186.28.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, beating the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The firm had revenue of $34.10 billion for the quarter, compared to analysts’ expectations of $31.70 billion. During the same quarter last year, the company earned $4.12 EPS. Marathon Petroleum’s quarterly revenue was down 11.1% on a year-over-year basis. Sell-side analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were issued 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 was Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 54.01%.

Insider Activity at Marathon Petroleum

In other news, insider Molly R. Benson sold 10,879 shares of the business’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $163.00, for a total value of $1,773,277.00. Following the sale, the insider owned 28,700 shares in the company, valued at approximately $4,678,100. The trade was a 27.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total value of $1,293,600.00. Following the completion of the transaction, the director directly owned 18,944 shares of the company’s stock, valued at $3,315,200. This represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

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. Barclays lifted their price target on shares of Marathon Petroleum from $159.00 to $189.00 and gave the stock an “overweight” rating in a research note on Friday, July 11th. Scotiabank restated an “outperform” rating on shares of Marathon Petroleum in a research note on Friday, July 11th. UBS Group boosted their price objective on shares of Marathon Petroleum from $175.00 to $203.00 and gave the stock a “buy” rating in a report on Thursday, July 10th. Finally, Morgan Stanley upped their price target on shares of Marathon Petroleum from $160.00 to $182.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. Eight analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $189.36.

Marathon Petroleum 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.