Rosenberg Matthew Hamilton Grows Stock Holdings in Marathon Petroleum Corporation $MPC

Rosenberg Matthew Hamilton increased its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 5.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,769 shares of the oil and gas company’s stock after acquiring an additional 204 shares during the quarter. Rosenberg Matthew Hamilton’s holdings in Marathon Petroleum were worth $626,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Triton Wealth Management PLLC acquired a new stake in Marathon Petroleum during the 2nd quarter worth $221,000. Harbour Investments Inc. raised its stake in Marathon Petroleum by 1.8% during the 2nd quarter. Harbour Investments Inc. now owns 4,755 shares of the oil and gas company’s stock worth $790,000 after acquiring an additional 85 shares in the last quarter. Sagespring Wealth Partners LLC raised its stake in Marathon Petroleum by 3.7% during the 2nd quarter. Sagespring Wealth Partners LLC now owns 21,666 shares of the oil and gas company’s stock worth $3,599,000 after acquiring an additional 781 shares in the last quarter. Kiker Wealth Management LLC raised its stake in Marathon Petroleum by 35.6% during the 2nd quarter. Kiker Wealth Management LLC now owns 1,017 shares of the oil and gas company’s stock worth $169,000 after acquiring an additional 267 shares in the last quarter. Finally, Axxcess Wealth Management LLC raised its stake in Marathon Petroleum by 4.6% during the 2nd quarter. Axxcess Wealth Management LLC now owns 6,593 shares of the oil and gas company’s stock worth $1,095,000 after acquiring an additional 292 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Citigroup lifted their price target on shares of Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. BMO Capital Markets lifted their price objective on shares of Marathon Petroleum from $195.00 to $208.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Raymond James Financial lifted their price objective on shares of Marathon Petroleum from $195.00 to $199.00 and gave the company an “outperform” rating in a research note on Tuesday, September 9th. UBS Group lifted their price objective on shares of Marathon Petroleum from $203.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Marathon Petroleum in a research note on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $199.31.

Insider Activity

In other news, insider Molly R. Benson sold 10,879 shares of the business’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the transaction, the insider directly owned 28,700 shares in the company, valued at $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.25% of the stock is currently owned by company insiders.

Marathon Petroleum Trading Down 0.1%

Shares of Marathon Petroleum stock opened at $183.23 on Wednesday. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $201.61. 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 company’s 50-day simple moving average is $179.32 and its 200-day simple moving average is $164.12. The firm has a market cap of $55.71 billion, a price-to-earnings ratio of 27.19, a price-to-earnings-growth ratio of 3.11 and a beta of 0.90.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The business had revenue of $34.10 billion for the quarter, compared to analyst estimates of $31.70 billion. During the same period in the previous year, the business posted $4.12 earnings per share. The business’s revenue was down 11.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

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