Allworth Financial LP Purchases 8,346 Shares of Marathon Petroleum Corporation $MPC

Allworth Financial LP increased its stake in Marathon Petroleum Corporation (NYSE:MPC) by 63.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,579 shares of the oil and gas company’s stock after acquiring an additional 8,346 shares during the period. Allworth Financial LP’s holdings in Marathon Petroleum were worth $3,584,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Baker Tilly Wealth Management LLC increased its holdings in Marathon Petroleum by 2.8% during the 2nd quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company’s stock worth $370,000 after purchasing an additional 60 shares during the period. CHICAGO TRUST Co NA increased its stake in shares of Marathon Petroleum by 3.9% during the second quarter. CHICAGO TRUST Co NA now owns 1,684 shares of the oil and gas company’s stock valued at $280,000 after buying an additional 63 shares during the period. Werba Rubin Papier Wealth Management raised its holdings in shares of Marathon Petroleum by 4.2% in the second quarter. Werba Rubin Papier Wealth Management now owns 1,577 shares of the oil and gas company’s stock valued at $262,000 after acquiring an additional 64 shares in the last quarter. AdvisorShares Investments LLC lifted its stake in Marathon Petroleum by 2.4% in the second quarter. AdvisorShares Investments LLC now owns 2,828 shares of the oil and gas company’s stock worth $470,000 after acquiring an additional 66 shares during the period. Finally, Joseph Group Capital Management grew its holdings in Marathon Petroleum by 0.3% during the 2nd quarter. Joseph Group Capital Management now owns 21,904 shares of the oil and gas company’s stock worth $3,639,000 after acquiring an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

MPC has been the subject of a number of analyst reports. Mizuho upped their price objective on Marathon Petroleum from $184.00 to $188.00 and gave the stock a “neutral” rating in a research note on Monday, September 15th. Bank of America raised their price target on shares of Marathon Petroleum from $184.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, September 3rd. Barclays lifted their price objective on shares of Marathon Petroleum from $176.00 to $194.00 and gave the stock an “overweight” rating in a research report on Monday, October 13th. Citigroup increased their target price on shares of Marathon Petroleum from $144.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. Finally, TD Cowen cut their price target on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Eight analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $200.00.

Insider Activity

In other news, insider Molly R. Benson sold 10,879 shares of the company’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 transaction, the insider owned 28,700 shares of the company’s stock, valued at $4,678,100. This represents a 27.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.21% of the stock is owned by corporate insiders.

Marathon Petroleum Stock Down 1.8%

Shares of MPC opened at $196.60 on Thursday. The firm has a market cap of $59.10 billion, a P/E ratio of 20.96, a PEG ratio of 3.88 and a beta of 0.90. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $202.25. The stock’s 50 day moving average is $188.94 and its two-hundred day moving average is $173.44. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $0.01. The firm had revenue of $34.81 billion for the quarter, compared to analyst estimates of $31.06 billion. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. Analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 19th will be issued a dividend of $1.00 per share. The ex-dividend date is Wednesday, November 19th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.0%. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s payout ratio is 38.81%.

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.