Spire Wealth Management Acquires 111 Shares of Marathon Petroleum Corporation $MPC

Spire Wealth Management raised its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 1.1% during the second quarter, Holdings Channel.com reports. The fund owned 9,953 shares of the oil and gas company’s stock after buying an additional 111 shares during the period. Spire Wealth Management’s holdings in Marathon Petroleum were worth $1,637,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MPC. Activest Wealth Management raised its holdings in Marathon Petroleum by 290.2% during the second quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 119 shares during the period. CBIZ Investment Advisory Services LLC raised its holdings in Marathon Petroleum by 1,546.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 201 shares during the period. Hughes Financial Services LLC bought a new stake in Marathon Petroleum during the first quarter valued at about $32,000. WPG Advisers LLC bought a new stake in Marathon Petroleum during the first quarter valued at about $32,000. Finally, Operose Advisors LLC bought a new stake in Marathon Petroleum during the first quarter valued at about $42,000. 76.77% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction dated 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 completion of the transaction, the insider owned 28,700 shares in the company, valued at approximately $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. TD Cowen decreased their price target on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Citigroup raised their price objective on Marathon Petroleum from $144.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. Morgan Stanley raised their price objective on Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, October 3rd. Raymond James Financial restated an “outperform” rating and set a $203.00 price objective (up previously from $199.00) on shares of Marathon Petroleum in a research report on Friday, October 17th. Finally, Piper Sandler raised their price objective on Marathon Petroleum from $184.00 to $222.00 and gave the company a “neutral” rating in a research report on Thursday, September 11th. 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 company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $200.31.

Marathon Petroleum Trading Down 0.3%

MPC opened at $195.01 on Friday. The firm has a market cap of $59.29 billion, a P/E ratio of 28.93, a P/E/G ratio of 4.09 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. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. The stock has a 50-day moving average of $186.45 and a 200 day moving average of $169.63.

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

Marathon Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Wednesday, November 19th will be given a $1.00 dividend. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.91. This represents a $4.00 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, November 19th. Marathon Petroleum’s dividend payout ratio (DPR) is 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.