Elevation Point Wealth Partners LLC Makes New $1.81 Million Investment in Marathon Petroleum Corporation $MPC

Elevation Point Wealth Partners LLC purchased a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 7,098 shares of the oil and gas company’s stock, valued at approximately $1,815,000.

A number of other hedge funds also recently added to or reduced their stakes in MPC. BlackRock Inc. purchased a new position in Marathon Petroleum during the 2nd quarter valued at about $6,648,958,000. Bank of New York Mellon Corp purchased a new stake in shares of Marathon Petroleum in the 2nd quarter worth approximately $1,029,611,000. Norges Bank purchased a new position in Marathon Petroleum during the fourth quarter valued at approximately $472,312,000. Capital Wealth Planning LLC raised its stake in Marathon Petroleum by 49,392.0% in the fourth quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock worth $245,157,000 after buying an additional 1,495,097 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in Marathon Petroleum by 3,816.8% during the fourth quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company’s stock worth $212,517,000 after buying an additional 1,273,386 shares during the period. 76.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MPC. Zacks Research lowered Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 17th. BMO Capital Markets reiterated an “outperform” rating on shares of Marathon Petroleum in a report on Friday, June 12th. Evercore set a $330.00 price target on shares of Marathon Petroleum in a research report on Wednesday, August 5th. Morgan Stanley raised their price target on shares of Marathon Petroleum from $233.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Finally, Jefferies Financial Group set a $335.00 price objective on shares of Marathon Petroleum and gave the stock a “buy” rating in a research note on Sunday, July 12th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $312.50.

Insider Buying and Selling at Marathon Petroleum

In related news, SVP Shawn M. Lyon sold 2,500 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $350.00, for a total transaction of $875,000.00. Following the completion of the transaction, the senior vice president directly owned 12,619 shares in the company, valued at $4,416,650. The trade was a 16.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Michael A. Henschen II sold 6,336 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were 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 approximately $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.17% of the stock is owned by corporate insiders.

Marathon Petroleum Price Performance

NYSE MPC opened at $362.18 on Monday. Marathon Petroleum Corporation has a 1 year low of $161.93 and a 1 year high of $367.60. The company has a market cap of $105.73 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 0.23 and a beta of 0.52. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89. The stock’s fifty day moving average price is $297.25 and its 200 day moving average price is $254.78.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, topping analysts’ consensus estimates of $14.27 by $3.46. The firm had revenue of $51.99 billion during the quarter, compared to the consensus estimate of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The company’s revenue was up 53.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.96 earnings per share. As a group, equities research 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 disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders 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 of this dividend is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio is 13.75%.

Marathon Petroleum Company Profile

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.