Diversify Wealth Management LLC Increases Stake in Marathon Petroleum Corporation $MPC

Diversify Wealth Management LLC boosted its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 131.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,412 shares of the oil and gas company’s stock after purchasing an additional 3,073 shares during the period. Diversify Wealth Management LLC’s holdings in Marathon Petroleum were worth $1,309,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Marathon Petroleum by 0.3% in the fourth quarter. State Street Corp now owns 17,934,327 shares of the oil and gas company’s stock worth $2,916,660,000 after buying an additional 47,896 shares during the period. Boston Partners lifted its stake in shares of 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 acquiring an additional 141,691 shares during the last quarter. Norges Bank purchased a new position in Marathon Petroleum during the 4th quarter valued at $472,312,000. Charles Schwab Investment Management Inc. grew its position in Marathon Petroleum by 0.4% in the 4th 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 acquiring an additional 11,693 shares during the last quarter. Finally, Invesco Ltd. grew its position in Marathon Petroleum by 2.7% in the 4th quarter. Invesco Ltd. now owns 2,600,191 shares of the oil and gas company’s stock valued at $422,869,000 after acquiring an additional 67,600 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Insiders Place Their Bets

In related news, VP Michael A. Henschen II sold 6,336 shares of the company’s stock in a transaction 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 completion of 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 position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.17% of the stock is currently owned by corporate insiders.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $299.39 on Thursday. The company has a current ratio of 1.18, a quick ratio of 0.73 and a debt-to-equity ratio of 1.31. The stock’s fifty day moving average price is $259.70 and its 200-day moving average price is $225.73. The firm has a market cap of $87.40 billion, a P/E ratio of 19.54, a P/E/G ratio of 0.42 and a beta of 0.52. Marathon Petroleum Corporation has a 12 month low of $158.00 and a 12 month high of $304.36.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The company had revenue of $34.20 billion for the quarter, compared to analysts’ expectations of $33.42 billion. During the same period in the prior year, the business earned ($0.24) EPS. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities research analysts expect that Marathon Petroleum Corporation will post 34.58 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Mizuho lifted their target price on Marathon Petroleum from $224.00 to $284.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. 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. JPMorgan Chase & Co. boosted their price objective on shares of Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. UBS Group restated a “buy” rating and issued a $321.00 target price on shares of Marathon Petroleum in a research note on Friday, July 10th. Finally, Bank of America raised their target price on shares of Marathon Petroleum from $224.00 to $260.00 in a research report on Tuesday, May 26th. Ten equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and a consensus price target of $283.56.

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.