M Holdings Securities Inc. Purchases 2,456 Shares of Marathon Petroleum Corporation $MPC

M Holdings Securities Inc. purchased a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,456 shares of the oil and gas company’s stock, valued at approximately $1,046,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of MPC. BlackRock Inc. acquired a new position in Marathon Petroleum in the second quarter valued at $6,648,958,000. Bank of New York Mellon Corp acquired a new stake in shares of Marathon Petroleum during the second quarter worth about $1,029,611,000. Bank of America Corp DE boosted its stake in shares of Marathon Petroleum by 1.6% during the first quarter. Bank of America Corp DE now owns 2,595,084 shares of the oil and gas company’s stock worth $633,668,000 after buying an additional 40,124 shares during the period. Amundi grew its holdings in shares of Marathon Petroleum by 17.5% during the second quarter. Amundi now owns 2,237,930 shares of the oil and gas company’s stock worth $572,172,000 after buying an additional 332,551 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Marathon Petroleum by 16.7% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,508,489 shares of the oil and gas company’s stock worth $385,675,000 after buying an additional 215,686 shares during the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Trading Up 4.6%

Shares of Marathon Petroleum stock opened at $389.91 on Tuesday. The firm has a market cap of $106.16 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 0.10 and a beta of 0.53. Marathon Petroleum Corporation has a 52-week low of $161.93 and a 52-week high of $493.98. The company’s 50-day simple moving average is $422.11 and its 200-day simple moving average is $296.41. The company has a quick ratio of 0.89, a current ratio of 1.45 and a debt-to-equity ratio of 1.10.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, November 3rd. The oil and gas company reported $26.93 EPS for the quarter, beating analysts’ consensus estimates of $25.37 by $1.56. Marathon Petroleum had a net margin of 8.27% and a return on equity of 55.82%. The firm had revenue of $56.03 billion during the quarter, compared to the consensus estimate of $46.60 billion. During the same quarter last year, the firm earned $3.01 earnings per share. The firm’s revenue was up 57.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Marathon Petroleum Corporation will post 66.31 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 18th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, November 18th. Marathon Petroleum’s dividend payout ratio is 13.75%.

Insider Activity

In related news, insider Molly R. Benson sold 17,196 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $358.57, for a total transaction of $6,165,969.72. Following the transaction, the insider owned 30,334 shares of the company’s stock, valued at $10,876,862.38. This represents a 36.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Erin M. Brzezinski sold 570 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total value of $206,790.30. Following the completion of the transaction, the vice president owned 1,576 shares of the company’s stock, valued at $571,757.04. The trade was a 26.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 21,691 shares of company stock valued at $7,780,127 in the last three months. 0.17% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MPC has been the topic of several recent research reports. Bank of America boosted their price target on Marathon Petroleum from $410.00 to $426.00 and gave the company a “neutral” rating in a research report on Friday, October 2nd. UBS Group set a $510.00 price objective on Marathon Petroleum in a research report on Friday, October 9th. Piper Sandler lifted their target price on Marathon Petroleum from $462.00 to $466.00 and gave the company an “overweight” rating in a research note on Thursday, November 5th. Wells Fargo & Company boosted their target price on Marathon Petroleum from $560.00 to $564.00 and gave the company an “overweight” rating in a report on Wednesday, November 4th. Finally, Mizuho upped their price target on Marathon Petroleum from $304.00 to $457.00 and gave the stock a “neutral” rating in a research note on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and an average target price of $425.12.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation is an integrated downstream energy company focused on refining, marketing, and transporting petroleum products. Its refineries produce fuels and other products, including gasoline, diesel, jet fuel, asphalt, and petrochemical feedstocks.

The company sells transportation fuels and related products through a network of branded locations and other wholesale and commercial channels, primarily in the United States. Its midstream operations, conducted largely through its affiliated partnership MPLX, include gathering, processing, and transporting natural gas and natural gas liquids, as well as storing and transporting crude oil and refined products.

Marathon Petroleum was established as an independent company in 2011, when it was spun off from Marathon Oil Corporation.