TRB Wealth Management LLC Makes New $630,000 Investment in Marathon Petroleum Corporation $MPC

TRB Wealth Management LLC purchased a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 2,463 shares of the oil and gas company’s stock, valued at approximately $630,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Energy Income Partners LLC purchased a new position in shares of Marathon Petroleum during the 2nd quarter worth $4,912,000. Pictet Asset Management Holding SA raised its holdings in Marathon Petroleum by 31.0% in 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 buying an additional 50,521 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in 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 buying an additional 143,500 shares during the period. North Dakota State Investment Board purchased a new position in Marathon Petroleum during the fourth quarter worth about $1,714,000. Finally, ABC Arbitrage SA acquired a new stake in shares of Marathon Petroleum during the fourth quarter valued at about $4,977,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of MPC opened at $362.18 on Friday. The company has a market capitalization of $105.73 billion, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52. Marathon Petroleum Corporation has a 52-week low of $161.93 and a 52-week high of $367.60. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. The stock has a 50 day moving average price of $297.25 and a 200 day moving average price of $254.23.

Marathon Petroleum (NYSE:MPC) last posted 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. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The firm had revenue of $51.99 billion for the quarter, compared to the consensus estimate of $40.87 billion. During the same period last year, the firm posted $3.96 EPS. The company’s revenue was up 53.5% on a year-over-year basis. Research analysts predict that Marathon Petroleum Corporation will post 46.66 EPS 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. Stockholders of record on Wednesday, August 19th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 19th. Marathon Petroleum’s payout ratio is presently 13.75%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MPC. Wells Fargo & Company boosted their price target on shares of Marathon Petroleum from $344.00 to $359.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. TD Cowen boosted their target price on Marathon Petroleum from $357.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Bank of America upped their price target on Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. Morgan Stanley raised their price objective on shares of Marathon Petroleum from $233.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Finally, Piper Sandler boosted their target price on Marathon Petroleum from $343.00 to $344.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and a consensus target price of $312.50.

Insider Buying and Selling at Marathon Petroleum

In other news, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction 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 represents a 27.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Shawn M. Lyon sold 2,500 shares of the firm’s stock in a transaction that occurred on 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 $4,416,650. The trade was a 16.54% 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 corporate insiders.

Marathon Petroleum Company 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.