Salomon & Ludwin LLC Acquires 253 Shares of Marathon Petroleum Corporation $MPC

Salomon & Ludwin LLC increased its stake in Marathon Petroleum Corporation (NYSE:MPC) by 35.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 967 shares of the oil and gas company’s stock after acquiring an additional 253 shares during the period. Salomon & Ludwin LLC’s holdings in Marathon Petroleum were worth $169,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Silver Oak Securities Incorporated bought a new stake in shares of Marathon Petroleum during the first quarter valued at approximately $339,000. Oppenheimer Asset Management Inc. grew its holdings in Marathon Petroleum by 8.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 44,387 shares of the oil and gas company’s stock worth $6,467,000 after purchasing an additional 3,291 shares during the last quarter. Jump Financial LLC grew its holdings in shares of Marathon Petroleum by 128.0% during the first quarter. Jump Financial LLC now owns 8,663 shares of the oil and gas company’s stock valued at $1,262,000 after buying an additional 4,863 shares during the last quarter. Weatherly Asset Management L. P. purchased a new stake in shares of Marathon Petroleum during the first quarter valued at $216,000. Finally, Journey Strategic Wealth LLC grew its holdings in shares of Marathon Petroleum by 105.0% during the first quarter. Journey Strategic Wealth LLC now owns 8,582 shares of the oil and gas company’s stock valued at $1,250,000 after buying an additional 4,396 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Insider Buying and Selling

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the company’s stock in a transaction dated Friday, August 15th. The shares were 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 of the company’s stock, valued at $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Raymond James Financial reissued an “outperform” rating and set a $203.00 price objective (up from $199.00) on shares of Marathon Petroleum in a report on Friday. Evercore ISI upped their price target on shares of Marathon Petroleum from $170.00 to $210.00 and gave the company an “in-line” rating in a report on Friday, September 19th. UBS Group upped their price target on shares of Marathon Petroleum from $203.00 to $220.00 and gave the company a “buy” rating in a report on Friday, September 26th. Citigroup upped their price objective on shares of Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. Finally, TD Cowen reduced their price target on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.31.

Marathon Petroleum Trading Up 1.7%

Shares of Marathon Petroleum stock opened at $184.14 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. The company has a market capitalization of $55.98 billion, a P/E ratio of 27.32, a PEG ratio of 2.88 and a beta of 0.90. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $201.61. The company’s fifty day moving average is $180.61 and its two-hundred day moving average is $164.88.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $0.74. The company had revenue of $34.10 billion for 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 quarterly revenue was down 11.1% on a year-over-year basis. During the same period in the previous year, the business posted $4.12 earnings per share. Analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were issued a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a yield of 2.0%. Marathon Petroleum’s payout ratio is currently 54.01%.

Marathon Petroleum Profile

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.