Wealth Enhancement Advisory Services LLC increased its stake in Marathon Petroleum Corp (NYSE:MPC) by 56.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 45,492 shares of the oil and gas company’s stock after purchasing an additional 16,406 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Marathon Petroleum were worth $2,555,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Squar Milner Financial Services LLC boosted its stake in Marathon Petroleum by 7.7% in the first quarter. Squar Milner Financial Services LLC now owns 2,353 shares of the oil and gas company’s stock valued at $140,000 after buying an additional 168 shares in the last quarter. LS Investment Advisors LLC boosted its stake in Marathon Petroleum by 0.7% in the first quarter. LS Investment Advisors LLC now owns 26,169 shares of the oil and gas company’s stock valued at $1,566,000 after buying an additional 188 shares in the last quarter. Unison Advisors LLC boosted its stake in Marathon Petroleum by 0.9% in the second quarter. Unison Advisors LLC now owns 22,197 shares of the oil and gas company’s stock valued at $1,240,000 after buying an additional 191 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Marathon Petroleum by 2.3% during the first quarter. Parallel Advisors LLC now owns 8,721 shares of the oil and gas company’s stock valued at $522,000 after purchasing an additional 194 shares in the last quarter. Finally, SevenBridge Financial Group LLC boosted its stake in shares of Marathon Petroleum by 6.9% during the second quarter. SevenBridge Financial Group LLC now owns 3,336 shares of the oil and gas company’s stock valued at $186,000 after purchasing an additional 215 shares in the last quarter. Institutional investors own 76.94% of the company’s stock.
A number of analysts have recently commented on MPC shares. Credit Suisse Group cut their price target on Marathon Petroleum from $95.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, May 13th. Cowen lowered Marathon Petroleum from an “outperform” rating to a “market perform” rating and cut their price target for the company from $90.00 to $65.00 in a research note on Friday, May 10th. Wells Fargo & Co cut their price target on Marathon Petroleum from $96.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Raymond James lifted their price target on Marathon Petroleum from $72.00 to $75.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. Finally, ValuEngine raised Marathon Petroleum from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 22nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $82.62.
Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Thursday, August 1st. The oil and gas company reported $1.73 EPS for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.40. The company had revenue of $33.70 billion for the quarter, compared to analyst estimates of $33.26 billion. Marathon Petroleum had a return on equity of 9.55% and a net margin of 2.36%. The firm’s quarterly revenue was up 50.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.27 earnings per share. Research analysts forecast that Marathon Petroleum Corp will post 4.36 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date is Tuesday, August 20th. Marathon Petroleum’s dividend payout ratio is currently 31.27%.
In related news, Director James E. Rohr acquired 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were bought at an average cost of $48.14 per share, with a total value of $601,750.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.06% of the stock is owned by insiders.
About Marathon Petroleum
Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.
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