Marathon Petroleum Corporation $MPC is Demars Financial Group LLC’s 10th Largest Position

Demars Financial Group LLC reduced its stake in Marathon Petroleum Corporation (NYSE:MPC) by 99.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,899 shares of the oil and gas company’s stock after selling 4,684,696 shares during the quarter. Marathon Petroleum comprises about 1.8% of Demars Financial Group LLC’s portfolio, making the stock its 10th largest holding. Demars Financial Group LLC’s holdings in Marathon Petroleum were worth $4,800,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Silver Oak Securities Incorporated acquired a new position in Marathon Petroleum in the 1st quarter worth approximately $339,000. Oppenheimer Asset Management Inc. increased its holdings in Marathon Petroleum by 8.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 44,387 shares of the oil and gas company’s stock worth $6,467,000 after buying an additional 3,291 shares during the period. Jump Financial LLC increased its holdings in Marathon Petroleum by 128.0% in the 1st quarter. Jump Financial LLC now owns 8,663 shares of the oil and gas company’s stock worth $1,262,000 after buying an additional 4,863 shares during the period. Weatherly Asset Management L. P. acquired a new position in Marathon Petroleum in the 1st quarter worth approximately $216,000. Finally, Journey Strategic Wealth LLC increased its holdings in Marathon Petroleum by 105.0% in the 1st quarter. Journey Strategic Wealth LLC now owns 8,582 shares of the oil and gas company’s stock worth $1,250,000 after buying an additional 4,396 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Trading Up 1.7%

Shares of NYSE:MPC opened at $184.14 on Monday. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $201.61. The firm has a market capitalization of $55.98 billion, a price-to-earnings ratio of 27.32, a price-to-earnings-growth ratio of 2.87 and a beta of 0.90. 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’s 50 day moving average price is $180.61 and its 200-day moving average price is $165.13.

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

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were given a dividend of $0.91 per share. The ex-dividend date was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.0%. Marathon Petroleum’s dividend payout ratio (DPR) is 54.01%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on MPC shares. Evercore ISI increased their price target on shares of Marathon Petroleum from $170.00 to $210.00 and gave the stock an “in-line” rating in a report on Friday, September 19th. Wolfe Research cut shares of Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 14th. Mizuho raised their price objective on shares of Marathon Petroleum from $184.00 to $188.00 and gave the stock a “neutral” rating in a research note on Monday, September 15th. Wells Fargo & Company began coverage on shares of Marathon Petroleum in a research note on Friday. They set an “overweight” rating and a $214.00 price objective on the stock. Finally, Morgan Stanley raised their price objective on shares of Marathon Petroleum from $182.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, Marathon Petroleum currently has an average rating of “Moderate Buy” and a consensus price target of $200.31.

Insider Activity

In other news, insider Molly R. Benson sold 10,879 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the transaction, the insider owned 28,700 shares in the company, valued at $4,678,100. This trade represents a 27.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.25% of the stock is owned by company insiders.

About Marathon Petroleum

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.