Wendell David Associates Inc. Purchases 66 Shares of Marathon Petroleum Corporation $MPC

Wendell David Associates Inc. raised its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 0.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 76,613 shares of the oil and gas company’s stock after acquiring an additional 66 shares during the period. Marathon Petroleum makes up about 1.3% of Wendell David Associates Inc.’s investment portfolio, making the stock its 22nd largest position. Wendell David Associates Inc.’s holdings in Marathon Petroleum were worth $12,726,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MPC. Brighton Jones LLC increased its position in Marathon Petroleum by 30.9% during the fourth quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock valued at $696,000 after acquiring an additional 1,178 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Marathon Petroleum by 3.4% during the first quarter. GAMMA Investing LLC now owns 10,577 shares of the oil and gas company’s stock valued at $1,541,000 after purchasing an additional 351 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Marathon Petroleum by 2.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 110,599 shares of the oil and gas company’s stock valued at $16,113,000 after purchasing an additional 2,539 shares during the period. Kingswood Wealth Advisors LLC boosted its stake in shares of Marathon Petroleum by 7.8% during the first quarter. Kingswood Wealth Advisors LLC now owns 5,024 shares of the oil and gas company’s stock valued at $734,000 after purchasing an additional 364 shares during the period. Finally, CWA Asset Management Group LLC boosted its stake in shares of Marathon Petroleum by 15.7% during the first quarter. CWA Asset Management Group LLC now owns 2,785 shares of the oil and gas company’s stock valued at $406,000 after purchasing an additional 378 shares during the period. Institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

MPC has been the subject of a number of recent analyst reports. TD Cowen lowered their target price 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. Scotiabank reissued an “outperform” rating on shares of Marathon Petroleum in a research note on Thursday, October 9th. Morgan Stanley boosted their target price 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. Bank of America boosted their target price on shares of Marathon Petroleum from $184.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, September 3rd. Finally, Barclays boosted their target price on shares of Marathon Petroleum from $176.00 to $194.00 and gave the company an “overweight” rating in a research note on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $200.31.

Marathon Petroleum Stock Performance

MPC stock opened at $184.14 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71. The business has a 50-day moving average price of $180.61 and a 200 day moving average price of $164.88. The company has a market capitalization of $55.98 billion, a P/E ratio of 27.32, a PEG ratio of 2.88 and a beta of 0.90. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $201.61.

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

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were issued a $0.91 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a yield of 2.0%. Marathon Petroleum’s payout ratio is currently 54.01%.

Insider Buying and Selling

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider directly owned 28,700 shares in the company, valued at approximately $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.21% 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.