Jupiter Wealth Management LLC Takes $2.56 Million Position in Marathon Petroleum Corporation $MPC

Jupiter Wealth Management LLC acquired a new position in Marathon Petroleum Corporation (NYSE:MPC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,000 shares of the oil and gas company’s stock, valued at approximately $2,557,000. Marathon Petroleum comprises about 1.0% of Jupiter Wealth Management LLC’s portfolio, making the stock its 25th biggest position.

Other institutional investors have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB increased its stake in shares of Marathon Petroleum by 3.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,288 shares of the oil and gas company’s stock worth $329,000 after purchasing an additional 40 shares in the last quarter. Equitable Trust Co. lifted its stake in shares of Marathon Petroleum by 1.6% during the 1st quarter. Equitable Trust Co. now owns 2,637 shares of the oil and gas company’s stock valued at $644,000 after buying an additional 42 shares in the last quarter. Bartlett & CO. Wealth Management LLC lifted its stake in shares of Marathon Petroleum by 0.4% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 9,548 shares of the oil and gas company’s stock valued at $2,411,000 after buying an additional 42 shares in the last quarter. Wellington Grp LLC boosted its holdings in Marathon Petroleum by 9.6% in the 1st quarter. Wellington Grp LLC now owns 516 shares of the oil and gas company’s stock worth $126,000 after buying an additional 45 shares during the period. Finally, Avior Wealth Management LLC grew its stake in Marathon Petroleum by 2.2% in the 2nd quarter. Avior Wealth Management LLC now owns 2,108 shares of the oil and gas company’s stock valued at $539,000 after buying an additional 46 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, SVP Shawn M. Lyon sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $350.00, for a total value of $875,000.00. Following the transaction, the senior vice president directly owned 12,619 shares in the company, valued at $4,416,650. This represents a 16.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction dated 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 sale, the vice president directly owned 16,900 shares in the company, valued at approximately $4,543,058. The trade was a 27.27% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.17% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MPC. Morgan Stanley boosted their target price on shares of Marathon Petroleum from $233.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Jefferies Financial Group set a $335.00 price target on Marathon Petroleum and gave the stock a “buy” rating in a report on Sunday, July 12th. BMO Capital Markets reiterated an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, June 12th. Piper Sandler boosted their price objective on Marathon Petroleum from $343.00 to $344.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. increased their price objective on Marathon Petroleum from $235.00 to $257.00 in a report on Wednesday, May 6th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $312.50.

Marathon Petroleum Stock Performance

NYSE MPC opened at $358.71 on Friday. Marathon Petroleum Corporation has a 1 year low of $161.93 and a 1 year high of $367.60. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89. The stock has a market capitalization of $104.72 billion, a PE ratio of 12.33, a P/E/G ratio of 0.23 and a beta of 0.52. The company’s 50 day simple moving average is $295.27 and its two-hundred day simple moving average is $253.47.

Marathon Petroleum (NYSE:MPC) last announced 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 the consensus estimate of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The business’s quarterly revenue was up 53.5% compared to the same quarter last year. During the same period last year, the firm earned $3.96 EPS. Analysts predict that Marathon Petroleum Corporation will post 46.66 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

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

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.