Hazlett Burt & Watson Inc. Increases Stake in Marathon Petroleum Corporation $MPC

Hazlett Burt & Watson Inc. increased its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 22.8% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,659 shares of the oil and gas company’s stock after purchasing an additional 308 shares during the period. Hazlett Burt & Watson Inc.’s holdings in Marathon Petroleum were worth $276,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its stake in shares of Marathon Petroleum by 4.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 81,818 shares of the oil and gas company’s stock valued at $13,905,000 after purchasing an additional 3,237 shares in the last quarter. LRI Investments LLC boosted its stake in shares of Marathon Petroleum by 29.9% in the 2nd quarter. LRI Investments LLC now owns 1,605 shares of the oil and gas company’s stock valued at $267,000 after purchasing an additional 369 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Marathon Petroleum by 29.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 65,672 shares of the oil and gas company’s stock valued at $10,913,000 after purchasing an additional 14,972 shares in the last quarter. Sovereign Financial Group Inc. purchased a new stake in Marathon Petroleum during the 2nd quarter valued at $223,000. Finally, Tranquility Partners LLC boosted its position in Marathon Petroleum by 4.1% during the 2nd quarter. Tranquility Partners LLC now owns 10,598 shares of the oil and gas company’s stock valued at $1,760,000 after buying an additional 419 shares during the period. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

MPC opened at $183.36 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. The company has a market cap of $55.75 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 3.04 and a beta of 0.90. The company’s 50 day moving average is $179.03 and its 200 day moving average is $163.99. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $201.61.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $0.74. The company had revenue of $34.10 billion for the quarter, compared to the consensus estimate of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The firm’s revenue was down 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $4.12 earnings per share. On average, equities research analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were issued a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.0%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 54.01%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MPC shares. Mizuho increased their price target on shares of Marathon Petroleum from $184.00 to $188.00 and gave the company a “neutral” rating in a research report on Monday, September 15th. UBS Group increased their price target on shares of Marathon Petroleum from $203.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. TD Cowen decreased their price target on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Morgan Stanley raised their price objective on shares of Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, October 3rd. Finally, BMO Capital Markets raised their price objective on shares of Marathon Petroleum from $195.00 to $208.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Eight investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and an average price target of $199.31.

Insider Activity

In related news, insider Molly R. Benson sold 10,879 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The shares were 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 approximately $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.25% of the company’s stock.

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.