Sandro Wealth Management LLC Invests $481,000 in Marathon Petroleum Corporation $MPC

Sandro Wealth Management LLC acquired a new stake in Marathon Petroleum Corporation (NYSE:MPC) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 1,882 shares of the oil and gas company’s stock, valued at approximately $481,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MPC. Centric Wealth Management bought a new position in Marathon Petroleum during the 2nd quarter worth about $2,802,000. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Marathon Petroleum in the 2nd quarter valued at about $3,795,000. State of Wyoming bought a new stake in shares of Marathon Petroleum in the second quarter valued at about $725,000. GSA Capital Partners LLP acquired a new position in shares of Marathon Petroleum during the second quarter worth about $274,000. Finally, Pacific Sage Partners LLC acquired a new position in shares of Marathon Petroleum during the second quarter worth about $210,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MPC. Citigroup lifted their target price on Marathon Petroleum from $303.00 to $318.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Raymond James Financial upped their price target on Marathon Petroleum from $300.00 to $335.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. JPMorgan Chase & Co. raised their price target on shares of Marathon Petroleum from $235.00 to $257.00 in a research note on Wednesday, May 6th. The Goldman Sachs Group lifted their price objective on shares of Marathon Petroleum from $291.00 to $376.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Finally, Wells Fargo & Company boosted their price objective on shares of Marathon Petroleum from $344.00 to $359.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average target price of $312.50.

Marathon Petroleum Price Performance

NYSE:MPC opened at $355.61 on Friday. Marathon Petroleum Corporation has a 52-week low of $160.87 and a 52-week high of $360.10. The company has a market cap of $103.82 billion, a P/E ratio of 12.22, a P/E/G ratio of 0.23 and a beta of 0.52. 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’s 50-day simple moving average is $287.31 and its 200 day simple moving average is $247.66.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, beating the consensus estimate of $14.27 by $3.46. The firm had revenue of $51.99 billion during the quarter, compared to analysts’ expectations of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The business’s quarterly revenue was up 53.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.96 earnings per share. As a group, sell-side analysts forecast that Marathon Petroleum Corporation will post 46.66 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid a dividend of $1.00 per share. The ex-dividend date is Wednesday, August 19th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.1%. Marathon Petroleum’s dividend payout ratio is currently 13.75%.

Insider Activity at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total value of $1,703,243.52. Following the completion of the transaction, the vice president directly owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.17% of the company’s stock.

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.