Marathon Petroleum Corporation $MPC Holdings Raised by Gateway Wealth Partners LLC

Gateway Wealth Partners LLC lifted its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 104.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,204 shares of the oil and gas company’s stock after acquiring an additional 3,175 shares during the period. Gateway Wealth Partners LLC’s holdings in Marathon Petroleum were worth $1,515,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Equitable Trust Co. raised its holdings in shares of Marathon Petroleum by 1.6% during the first quarter. Equitable Trust Co. now owns 2,637 shares of the oil and gas company’s stock worth $644,000 after purchasing an additional 42 shares during the period. Bartlett & CO. Wealth Management LLC lifted its position in shares of Marathon Petroleum by 0.4% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 9,548 shares of the oil and gas company’s stock worth $2,411,000 after buying an additional 42 shares during the last quarter. Hunter Associates Investment Management LLC boosted its holdings in shares of Marathon Petroleum by 1.6% in the 1st quarter. Hunter Associates Investment Management LLC now owns 3,220 shares of the oil and gas company’s stock valued at $786,000 after buying an additional 50 shares during the period. Creative Financial Designs Inc. ADV boosted its holdings in shares of Marathon Petroleum by 2.6% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 2,050 shares of the oil and gas company’s stock valued at $333,000 after buying an additional 51 shares during the period. Finally, IFG Advisory LLC grew its position in shares of Marathon Petroleum by 1.5% during the 4th quarter. IFG Advisory LLC now owns 3,429 shares of the oil and gas company’s stock valued at $558,000 after buying an additional 51 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Scotiabank increased their price objective on shares of Marathon Petroleum from $174.00 to $210.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. Barclays lifted their target price on Marathon Petroleum from $270.00 to $289.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Weiss Ratings upgraded Marathon Petroleum from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, July 6th. Morgan Stanley raised their price target on Marathon Petroleum from $233.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Finally, Bank of America boosted their price objective on Marathon Petroleum from $224.00 to $260.00 in a research report on Tuesday, May 26th. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $298.69.

Marathon Petroleum Trading Down 1.8%

Marathon Petroleum stock opened at $306.58 on Wednesday. Marathon Petroleum Corporation has a 52-week low of $158.00 and a 52-week high of $326.92. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $89.50 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 0.20 and a beta of 0.52. The firm has a 50-day moving average price of $270.57 and a two-hundred day moving average price of $234.97.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, beating the consensus estimate of $0.74 by $0.91. The company had revenue of $34.20 billion for the quarter, compared to analyst estimates of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. Marathon Petroleum’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.24) earnings per share. Sell-side analysts expect that Marathon Petroleum Corporation will post 43.19 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the sale, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. This trade represents a 27.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

Marathon Petroleum Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.