1,133 Marathon Petroleum Corporation $MPC Shares Acquired by Wedmont Private Capital

Wedmont Private Capital lifted its position in Marathon Petroleum Corporation (NYSE:MPC) by 16.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,147 shares of the oil and gas company’s stock after purchasing an additional 1,133 shares during the quarter. Wedmont Private Capital’s holdings in Marathon Petroleum were worth $3,221,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Marathon Petroleum in the second quarter valued at approximately $6,648,958,000. Bank of New York Mellon Corp purchased a new position in shares of Marathon Petroleum during the second quarter worth approximately $1,029,611,000. Bank of America Corp DE increased its holdings in shares of Marathon Petroleum by 1.6% in the 1st quarter. Bank of America Corp DE now owns 2,595,084 shares of the oil and gas company’s stock valued at $633,668,000 after acquiring an additional 40,124 shares during the period. Amundi increased its holdings in shares of Marathon Petroleum by 17.5% in the 2nd quarter. Amundi now owns 2,237,930 shares of the oil and gas company’s stock valued at $572,172,000 after acquiring an additional 332,551 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Marathon Petroleum by 16.7% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,508,489 shares of the oil and gas company’s stock valued at $385,675,000 after purchasing an additional 215,686 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MPC. Citigroup reissued a “neutral” rating on shares of Marathon Petroleum in a research report on Friday, October 2nd. Evercore set a $330.00 target price on shares of Marathon Petroleum in a report on Wednesday, August 5th. Morgan Stanley increased their target price on shares of Marathon Petroleum from $265.00 to $453.00 and gave the stock an “overweight” rating in a research note on Monday, September 14th. Weiss Ratings raised Marathon Petroleum from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday. Finally, Zacks Research upgraded Marathon Petroleum from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 4th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $383.69.

Insider Buying and Selling at Marathon Petroleum

In other news, insider Molly R. Benson sold 17,196 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $358.57, for a total value of $6,165,969.72. Following the completion of the sale, the insider directly owned 30,334 shares of the company’s stock, valued at $10,876,862.38. This trade represents a 36.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Shawn M. Lyon sold 1,000 shares of Marathon Petroleum stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $375.75, for a total value of $375,750.00. Following the completion of the sale, the senior vice president owned 11,194 shares in the company, valued at approximately $4,206,145.50. This trade represents a 8.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 21,691 shares of company stock valued at $7,780,127. 0.17% of the stock is owned by corporate insiders.

Marathon Petroleum Stock Performance

Shares of MPC opened at $453.84 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25. The stock has a market capitalization of $132.49 billion, a P/E ratio of 15.60, a P/E/G ratio of 0.14 and a beta of 0.54. The company’s fifty day moving average is $380.41 and its two-hundred day moving average is $300.85. Marathon Petroleum Corporation has a 1 year low of $161.93 and a 1 year high of $470.00.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, topping the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The company had revenue of $51.99 billion during the quarter, compared to analysts’ expectations of $40.87 billion. During the same quarter last year, the business earned $3.96 EPS. The business’s revenue was up 53.5% on a year-over-year basis. On average, sell-side analysts predict that Marathon Petroleum Corporation will post 61.46 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were given a $1.00 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $4.00 dividend on an annualized basis and a yield of 0.9%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 13.75%.

Marathon Petroleum Profile

Marathon Petroleum Corporation (NYSE:MPC) is an integrated downstream energy company engaged primarily in refining, marketing and transporting petroleum products. The company converts crude oil and other feedstocks into gasoline, diesel, jet fuel, asphalt, propane and other refined products used by consumers, businesses and industrial customers.

Marathon Petroleum operates refineries and related logistics assets in the United States, with a refining and marketing presence serving markets across the Midwest, Gulf Coast and West Coast.