44 Wealth Management LLC Takes $662,000 Position in Marathon Petroleum Corporation $MPC

44 Wealth Management LLC acquired a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,710 shares of the oil and gas company’s stock, valued at approximately $662,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Main Street Group LTD acquired a new position in shares of Marathon Petroleum in the first quarter valued at $35,000. Cedar Mountain Advisors LLC acquired a new stake in Marathon Petroleum during the first quarter worth $40,000. Navalign LLC bought a new stake in Marathon Petroleum in the 4th quarter valued at $30,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Marathon Petroleum in the 4th quarter valued at $31,000. Finally, Berbice Capital Management LLC raised its stake in shares of Marathon Petroleum by 100.0% in the 4th quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MPC shares. Jefferies Financial Group set a $335.00 target price on shares of Marathon Petroleum and gave the company a “buy” rating in a research report on Sunday, July 12th. The Goldman Sachs Group increased their price target on shares of Marathon Petroleum from $291.00 to $376.00 and gave the stock a “buy” rating in a research report on Wednesday. Bank of America raised their price target on shares of Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. JPMorgan Chase & Co. upped their price objective on Marathon Petroleum from $235.00 to $257.00 in a research note on Wednesday, May 6th. Finally, Wall Street Zen raised Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 10th. Eleven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and a consensus price target of $298.69.

Insiders Place Their Bets

In other news, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the sale, the vice president owned 16,900 shares in the company, valued at $4,543,058. The trade was a 27.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.17% of the company’s stock.

Marathon Petroleum Trading Down 1.0%

Shares of NYSE MPC opened at $309.14 on Friday. Marathon Petroleum Corporation has a 1-year low of $158.00 and a 1-year high of $326.92. The company has a 50-day moving average of $268.66 and a two-hundred day moving average of $232.62. The company has a market cap of $90.25 billion, a PE ratio of 20.18, a P/E/G ratio of 0.21 and a beta of 0.52. The company has a current ratio of 1.18, a quick ratio of 0.73 and a debt-to-equity ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.91. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The business had revenue of $34.20 billion during the quarter, compared to analyst estimates of $33.42 billion. During the same quarter last year, the business posted ($0.24) earnings per share. Marathon Petroleum’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, equities analysts expect that Marathon Petroleum Corporation will post 43.19 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Wednesday, May 20th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 26.11%.

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.