Uniting Wealth Partners LLC Acquires Shares of 2,332 Marathon Petroleum Corporation $MPC

Uniting Wealth Partners LLC acquired a new stake in shares of 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 2,332 shares of the oil and gas company’s stock, valued at approximately $596,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp boosted its stake in Marathon Petroleum by 0.3% during the 4th quarter. State Street Corp now owns 17,934,327 shares of the oil and gas company’s stock valued at $2,916,660,000 after purchasing an additional 47,896 shares during the last quarter. Boston Partners increased its holdings in Marathon Petroleum by 2.3% during the 3rd quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company’s stock worth $1,214,522,000 after purchasing an additional 141,691 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Marathon Petroleum in the second quarter worth approximately $1,029,611,000. Norges Bank purchased a new stake in shares of Marathon Petroleum in the fourth quarter worth approximately $472,312,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Marathon Petroleum by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,818,361 shares of the oil and gas company’s stock valued at $458,350,000 after purchasing an additional 11,693 shares in the last quarter. 76.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on MPC shares. Morgan Stanley upped their price target on Marathon Petroleum from $233.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. BMO Capital Markets restated an “outperform” rating on shares of Marathon Petroleum in a research note on Friday, June 12th. Wells Fargo & Company lifted their price objective on shares of Marathon Petroleum from $344.00 to $359.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. The Goldman Sachs Group upped their target price on shares of Marathon Petroleum from $291.00 to $376.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Finally, Jefferies Financial Group set a $335.00 target price on shares of Marathon Petroleum and gave the company a “buy” rating in a report on Sunday, July 12th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $312.50.

Marathon Petroleum Stock Performance

MPC stock opened at $355.61 on Monday. The firm has a market cap of $103.82 billion, a PE ratio of 12.22, a P/E/G ratio of 0.23 and a beta of 0.52. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. The business has a 50 day moving average of $287.31 and a 200-day moving average of $248.19. Marathon Petroleum Corporation has a 12-month low of $160.87 and a 12-month high of $360.10.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, beating analysts’ consensus estimates of $14.27 by $3.46. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The company had revenue of $51.99 billion during the quarter, compared to the consensus estimate of $40.87 billion. During the same period last year, the business posted $3.96 earnings per share. Marathon Petroleum’s revenue was up 53.5% on a year-over-year basis. As a group, sell-side analysts expect that Marathon Petroleum Corporation will post 46.66 earnings per share for the current year.

Marathon Petroleum Announces Dividend

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

Insider Activity at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $268.82, for a total value of $1,703,243.52. Following the transaction, the vice president directly owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. The trade was a 27.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.17% of the stock is owned by 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.