SteelPeak Wealth LLC Has $2.32 Million Stake in Marathon Petroleum Corporation $MPC

SteelPeak Wealth LLC reduced its stake in Marathon Petroleum Corporation (NYSE:MPC) by 34.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,255 shares of the oil and gas company’s stock after selling 7,373 shares during the period. SteelPeak Wealth LLC’s holdings in Marathon Petroleum were worth $2,318,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Delos Wealth Advisors LLC acquired a new position in Marathon Petroleum during the 2nd quarter worth approximately $25,000. KERR FINANCIAL PLANNING Corp acquired a new stake in Marathon Petroleum in the third quarter valued at approximately $39,000. IAG Wealth Partners LLC bought a new stake in shares of Marathon Petroleum during the third quarter valued at approximately $39,000. WFA of San Diego LLC bought a new stake in shares of Marathon Petroleum during the second quarter valued at approximately $33,000. Finally, Transce3nd LLC raised its position in shares of Marathon Petroleum by 10,250.0% during the second quarter. Transce3nd LLC now owns 207 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 205 shares during the period. 76.77% of the stock is owned by institutional investors.

Insider Activity at Marathon Petroleum

In related news, insider Ricky D. Hessling sold 1,626 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $228.18, for a total transaction of $371,020.68. Following the transaction, the insider owned 7,525 shares in the company, valued at $1,717,054.50. The trade was a 17.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have sold 4,473 shares of company stock valued at $1,015,428. Company insiders own 0.17% of the company’s stock.

Marathon Petroleum Stock Performance

NYSE MPC opened at $241.81 on Friday. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $255.77. The company’s 50 day moving average is $212.32 and its 200-day moving average is $194.47. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 1.27. The firm has a market cap of $71.21 billion, a P/E ratio of 18.11, a price-to-earnings-growth ratio of 0.51 and a beta of 0.58.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.73 by $0.34. Marathon Petroleum had a return on equity of 13.90% and a net margin of 2.99%.The firm had revenue of $32.57 billion during the quarter, compared to the consensus estimate of $30.89 billion. During the same quarter last year, the company posted $0.77 EPS. The company’s revenue for the quarter was down .1% on a year-over-year basis. Sell-side analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 18th were issued a $1.00 dividend. The ex-dividend date was Wednesday, February 18th. This represents a $4.00 annualized dividend and a dividend yield of 1.7%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 29.96%.

Analysts Set New Price Targets

Several analysts recently issued reports on MPC shares. Piper Sandler reduced their price target on shares of Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. TD Cowen raised their price objective on shares of Marathon Petroleum from $198.00 to $299.00 and gave the company a “buy” rating in a research note on Wednesday. Raymond James Financial boosted their target price on shares of Marathon Petroleum from $210.00 to $270.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 25th. Jefferies Financial Group dropped their price target on shares of Marathon Petroleum from $216.00 to $205.00 and set a “buy” rating on the stock in a research report on Monday, January 26th. Finally, Wells Fargo & Company increased their price objective on Marathon Petroleum from $213.00 to $217.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and an average target price of $219.19.

Marathon Petroleum Profile

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.