Sandro Wealth Management LLC Purchases New Stake in Marathon Petroleum Corporation $MPC

Sandro Wealth Management LLC acquired a new position in Marathon Petroleum Corporation (NYSE:MPC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,882 shares of the oil and gas company’s stock, valued at approximately $481,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MPC. Main Street Group LTD acquired a new stake in shares of Marathon Petroleum during the 1st quarter worth approximately $35,000. Cedar Mountain Advisors LLC bought a new stake in shares of Marathon Petroleum during the first quarter worth approximately $40,000. Navalign LLC acquired a new position in Marathon Petroleum in the fourth quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC bought a new position in Marathon Petroleum in the fourth quarter valued at approximately $31,000. Finally, WFA of San Diego LLC bought a new position in Marathon Petroleum in the second quarter valued at approximately $33,000. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Stock Down 0.2%

Shares of NYSE:MPC opened at $355.61 on Friday. The company has a 50 day moving average price of $287.31 and a two-hundred day moving average price of $247.66. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25. The company has a market capitalization of $103.82 billion, a PE ratio of 12.22, a PEG ratio of 0.23 and a beta of 0.52. Marathon Petroleum Corporation has a 52 week low of $160.87 and a 52 week high of $360.10.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, topping analysts’ consensus estimates of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The company had revenue of $51.99 billion for the quarter, compared to analysts’ expectations of $40.87 billion. During the same period last year, the firm posted $3.96 earnings per share. The business’s quarterly revenue was up 53.5% compared to the same quarter last year. Analysts forecast that Marathon Petroleum Corporation will post 46.66 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio is 13.75%.

Analyst Upgrades and Downgrades

MPC has been the subject of several recent research reports. TD Cowen upped their target price on shares of Marathon Petroleum from $357.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded Marathon Petroleum from a “hold (c+)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Bank of America lifted their price objective on Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. Zacks Research downgraded Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 17th. Finally, Barclays increased their target price on Marathon Petroleum from $289.00 to $321.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average price target of $312.50.

Insider Activity

In other news, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction dated 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 owned 16,900 shares of the company’s stock, valued at $4,543,058. This trade represents a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.17% of the stock is owned by company insiders.

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.