Diversify Wealth Management LLC Acquires 3,073 Shares of Marathon Petroleum Corporation $MPC

Diversify Wealth Management LLC lifted its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 131.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,412 shares of the oil and gas company’s stock after acquiring an additional 3,073 shares during the period. Diversify Wealth Management LLC’s holdings in Marathon Petroleum were worth $1,309,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Marathon Petroleum in the 4th quarter worth approximately $472,312,000. Capital Wealth Planning LLC grew its holdings in Marathon Petroleum by 49,392.0% during the 4th quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock valued at $245,157,000 after buying an additional 1,495,097 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Marathon Petroleum by 3,816.8% during the fourth quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company’s stock valued at $212,517,000 after buying an additional 1,273,386 shares during the last quarter. Man Group plc raised its position in shares of Marathon Petroleum by 2,175.0% during the fourth quarter. Man Group plc now owns 568,790 shares of the oil and gas company’s stock valued at $92,502,000 after buying an additional 543,788 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Marathon Petroleum by 104.8% in the fourth quarter. Victory Capital Management Inc. now owns 1,055,897 shares of the oil and gas company’s stock worth $171,721,000 after buying an additional 540,283 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Insiders Place Their Bets

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the sale, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. This represents a 27.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.17% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently weighed in on MPC. Raymond James Financial raised their target price on shares of Marathon Petroleum from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Monday. Jefferies Financial Group set a $335.00 price target on shares of Marathon Petroleum and gave the stock a “buy” rating in a research note on Sunday. Barclays increased their price objective on shares of Marathon Petroleum from $270.00 to $289.00 and gave the company an “overweight” rating in a report on Monday. Mizuho raised their price objective on Marathon Petroleum from $224.00 to $284.00 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Finally, Piper Sandler boosted their target price on Marathon Petroleum from $197.00 to $228.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Ten investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and an average target price of $283.56.

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $299.39 on Thursday. Marathon Petroleum Corporation has a 52-week low of $158.00 and a 52-week high of $304.36. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31. The firm’s fifty day moving average is $259.70 and its 200 day moving average is $225.73. The company has a market cap of $87.40 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 0.42 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.91. The business had revenue of $34.20 billion during the quarter, compared to analysts’ expectations of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The business’s revenue was up 8.5% on a year-over-year basis. During the same period last year, the company posted ($0.24) EPS. Sell-side analysts forecast that Marathon Petroleum Corporation will post 34.58 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Wednesday, May 20th. Marathon Petroleum’s payout ratio is presently 26.11%.

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.