Syverson Strege & Co Acquires Shares of 2,679 Marathon Petroleum Corporation $MPC

Syverson Strege & Co purchased a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 2,679 shares of the oil and gas company’s stock, valued at approximately $445,000.

Other large investors also recently bought and sold shares of the company. Integrity Alliance LLC. lifted its holdings in shares of Marathon Petroleum by 324.0% during the second quarter. Integrity Alliance LLC. now owns 6,313 shares of the oil and gas company’s stock valued at $1,049,000 after purchasing an additional 4,824 shares during the last quarter. Linscomb Wealth Inc. raised its position in shares of Marathon Petroleum by 3.4% in the 2nd quarter. Linscomb Wealth Inc. now owns 5,999 shares of the oil and gas company’s stock worth $996,000 after purchasing an additional 198 shares during the last quarter. Creative Financial Designs Inc. ADV raised its holdings in Marathon Petroleum by 7.5% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 1,852 shares of the oil and gas company’s stock worth $308,000 after acquiring an additional 129 shares during the last quarter. Simon Quick Advisors LLC raised its stake in shares of Marathon Petroleum by 60.3% in the second quarter. Simon Quick Advisors LLC now owns 6,168 shares of the oil and gas company’s stock worth $1,025,000 after purchasing an additional 2,321 shares during the last quarter. Finally, AdvisorShares Investments LLC raised its position in Marathon Petroleum by 2.4% in the 2nd quarter. AdvisorShares Investments LLC now owns 2,828 shares of the oil and gas company’s stock worth $470,000 after buying an additional 66 shares during the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Performance

Shares of NYSE:MPC opened at $195.01 on Friday. The stock has a market capitalization of $59.29 billion, a P/E ratio of 28.93, a PEG ratio of 4.09 and a beta of 0.90. 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 firm has a fifty day simple moving average of $186.45 and a two-hundred day simple moving average of $169.63.

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, topping the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The company had revenue of $34.10 billion during the quarter, compared to analyst estimates of $31.70 billion. During the same period in the previous year, the firm earned $4.12 earnings per share. Marathon Petroleum’s quarterly revenue was down 11.1% compared to the same quarter last year. On average, analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 19th will be paid a dividend of $1.00 per share. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.91. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, November 19th. Marathon Petroleum’s payout ratio is presently 54.01%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Morgan Stanley upped 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. Wells Fargo & Company began coverage on shares of Marathon Petroleum in a research report on Friday, October 17th. They set an “overweight” rating and a $214.00 price target for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Marathon Petroleum in a research report on Wednesday, October 8th. 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 research report on Friday, September 26th. Finally, Evercore ISI increased their target price 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. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $200.31.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the company’s stock in a transaction 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 completion of the sale, the insider directly owned 28,700 shares in the company, valued at approximately $4,678,100. This represents a 27.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Marathon Petroleum Company 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.