Marathon Petroleum Corporation $MPC Shares Bought by Independent Solutions Wealth Management LLC

Independent Solutions Wealth Management LLC increased its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 5.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,990 shares of the oil and gas company’s stock after acquiring an additional 502 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Marathon Petroleum were worth $1,493,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. CBIZ Investment Advisory Services LLC raised its holdings in shares of Marathon Petroleum by 1,546.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 201 shares during the period. Hughes Financial Services LLC acquired a new stake in shares of Marathon Petroleum in the first quarter valued at about $32,000. WPG Advisers LLC purchased a new stake in shares of Marathon Petroleum during the 1st quarter valued at about $32,000. Decker Retirement Planning Inc. grew its position in Marathon Petroleum by 1,621.4% in the first quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 227 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Marathon Petroleum in the first quarter worth about $35,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Barclays upped their price target on shares of Marathon Petroleum from $159.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, July 11th. Dbs Bank raised Marathon Petroleum to a “moderate buy” rating in a research report on Monday, July 28th. UBS Group raised their price target on shares of Marathon Petroleum from $203.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Marathon Petroleum in a report on Saturday, September 27th. Finally, Morgan Stanley raised their target price on Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday. Eight analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, Marathon Petroleum has an average rating of “Hold” and an average price target of $196.29.

Insiders Place Their Bets

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $163.00, for a total value of $1,773,277.00. Following the sale, the insider owned 28,700 shares in the company, valued at approximately $4,678,100. The trade was a 27.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.25% of the company’s stock.

Marathon Petroleum Price Performance

NYSE:MPC opened at $193.34 on Tuesday. The company’s 50-day moving average price is $177.39 and its two-hundred day moving average price is $162.63. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. The firm has a market cap of $58.78 billion, a PE ratio of 28.69, a price-to-earnings-growth ratio of 3.35 and a beta of 0.90. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $201.61.

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

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were given a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, August 20th. Marathon Petroleum’s payout ratio is currently 54.01%.

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.