Cerity Partners LLC increased its stake in Marathon Petroleum Corporation (NYSE:MPC – Free Report) by 2.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 197,590 shares of the oil and gas company’s stock after acquiring an additional 4,165 shares during the period. Cerity Partners LLC owned approximately 0.07% of Marathon Petroleum worth $32,134,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Creative Financial Designs Inc. ADV grew its position in Marathon Petroleum by 2.6% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 2,050 shares of the oil and gas company’s stock worth $333,000 after acquiring an additional 51 shares in the last quarter. IFG Advisory LLC grew its position in Marathon Petroleum by 1.5% in the fourth quarter. IFG Advisory LLC now owns 3,429 shares of the oil and gas company’s stock worth $558,000 after acquiring an additional 51 shares in the last quarter. Auxano Advisors LLC grew its position in Marathon Petroleum by 2.1% in the fourth quarter. Auxano Advisors LLC now owns 2,630 shares of the oil and gas company’s stock worth $428,000 after acquiring an additional 55 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its position in Marathon Petroleum by 0.6% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 10,287 shares of the oil and gas company’s stock worth $1,673,000 after acquiring an additional 57 shares in the last quarter. Finally, Legacy Bridge LLC grew its position in Marathon Petroleum by 12.5% in the fourth quarter. Legacy Bridge LLC now owns 523 shares of the oil and gas company’s stock worth $85,000 after acquiring an additional 58 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.
Key Headlines Impacting Marathon Petroleum
Here are the key news stories impacting Marathon Petroleum this week:
- Positive Sentiment: Raymond James raised its price target on Marathon Petroleum to $300 from $285 and kept an outperform rating, signaling additional upside potential for MPC. Raymond James raises price target on Marathon Petroleum to 300 from 285
- Positive Sentiment: MPC was included on Zacks’ list of top growth and momentum stocks, reflecting strong earnings trends, favorable price action, and upbeat growth forecasts. Best Growth Stocks to Buy for June 10th
- Positive Sentiment: Analysts highlighted Marathon Petroleum as a beneficiary of tight fuel supply and strong refining margins, with one article noting MPC has rallied sharply over the past six months and still offers further upside. 2 Refining Stocks With 35%+ Upside in 6 Months Despite High Oil Prices
- Positive Sentiment: Marathon Petroleum’s strong recent earnings beat and dividend support continue to underpin investor confidence, with the company recently paying a $1.00 quarterly dividend. MarketBeat Marathon Petroleum stock page
- Neutral Sentiment: There was also an insider sale disclosed for VP Michael Henschen II, which may draw attention but does not necessarily change the company’s fundamentals. Marathon Petroleum VP Michael Henschen II Sells 6,336 Shares
Marathon Petroleum Stock Performance
Marathon Petroleum (NYSE:MPC – Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The firm had revenue of $34.20 billion during the quarter, compared to the consensus estimate of $33.42 billion. During the same quarter in the previous year, the firm posted ($0.24) earnings per share. The company’s revenue was up 8.5% on a year-over-year basis. As a group, equities analysts forecast that Marathon Petroleum Corporation will post 30.05 earnings per share for the current year.
Marathon Petroleum Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Wednesday, May 20th. Marathon Petroleum’s payout ratio is currently 26.11%.
Insider Activity at Marathon Petroleum
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 of the company’s stock, valued at approximately $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ricky D. Hessling sold 1,626 shares of Marathon Petroleum stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $228.18, for a total transaction of $371,020.68. Following the sale, the insider directly owned 7,525 shares of the company’s stock, valued at $1,717,054.50. This represents a 17.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.17% of the company’s stock.
Analysts Set New Price Targets
Several analysts have issued reports on the stock. Raymond James Financial raised their price objective on shares of Marathon Petroleum from $285.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday. Mizuho raised their price objective on shares of Marathon Petroleum from $224.00 to $284.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. Morgan Stanley raised their price objective on shares of Marathon Petroleum from $200.00 to $233.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. BMO Capital Markets raised their price objective on shares of Marathon Petroleum from $255.00 to $290.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Finally, Barclays raised their price objective on shares of Marathon Petroleum from $230.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $270.38.
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.
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