Simplicity Wealth LLC Invests $750,000 in Marathon Petroleum Corporation $MPC

Simplicity Wealth LLC bought a new stake in Marathon Petroleum Corporation (NYSE:MPC) in the 2nd quarter, Holdings Channel.com reports. The firm bought 2,933 shares of the oil and gas company’s stock, valued at approximately $750,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Pictet Asset Management Holding SA raised its stake in Marathon Petroleum by 31.0% during the 1st quarter. Pictet Asset Management Holding SA now owns 213,545 shares of the oil and gas company’s stock valued at $52,146,000 after acquiring an additional 50,521 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in shares of Marathon Petroleum by 570.7% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 168,644 shares of the oil and gas company’s stock valued at $41,180,000 after purchasing an additional 143,500 shares during the last quarter. North Dakota State Investment Board purchased a new position in shares of Marathon Petroleum in the 4th quarter valued at approximately $1,714,000. ABC Arbitrage SA acquired a new position in shares of Marathon Petroleum in the fourth quarter valued at approximately $4,977,000. Finally, Shepherd Street Advisors LLC purchased a new stake in shares of Marathon Petroleum during the fourth quarter worth approximately $878,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on MPC. Barclays lifted their price objective on shares of Marathon Petroleum from $289.00 to $321.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Wall Street Zen upgraded shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. BMO Capital Markets restated an “outperform” rating on shares of Marathon Petroleum in a research note on Friday, June 12th. Scotiabank lifted their target price on shares of Marathon Petroleum from $174.00 to $210.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 22nd. Finally, Weiss Ratings raised shares of Marathon Petroleum from a “hold (c+)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus price target of $312.50.

Marathon Petroleum Trading Up 1.2%

Shares of MPC stock opened at $359.78 on Tuesday. The business’s fifty day moving average price is $289.19 and its 200 day moving average price is $249.51. The firm has a market capitalization of $105.03 billion, a PE ratio of 12.37, 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 current ratio of 1.25 and a quick ratio of 0.89. Marathon Petroleum Corporation has a 1-year low of $160.87 and a 1-year high of $363.34.

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, beating analysts’ consensus estimates of $14.27 by $3.46. The company had revenue of $51.99 billion during the quarter, compared to the consensus estimate of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.Marathon Petroleum’s quarterly revenue was up 53.5% compared to the same quarter last year. During the same quarter last year, the company earned $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 Announces Dividend

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

Insider Activity

In other Marathon Petroleum news, SVP Shawn M. Lyon sold 2,500 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $350.00, for a total value of $875,000.00. Following the completion of the transaction, the senior vice president directly owned 12,619 shares of the company’s stock, valued at approximately $4,416,650. This trade represents a 16.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the sale, the vice president owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.17% of the stock is owned by company 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.