Ritholtz Wealth Management Raises Stock Holdings in Marathon Petroleum Corporation $MPC

Ritholtz Wealth Management boosted its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 22.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,043 shares of the oil and gas company’s stock after buying an additional 3,687 shares during the quarter. Ritholtz Wealth Management’s holdings in Marathon Petroleum were worth $4,894,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Davis Investment Partners LLC purchased a new position in shares of Marathon Petroleum in the first quarter valued at about $251,000. Trust Co. of Oklahoma purchased a new stake in shares of Marathon Petroleum during the first quarter worth about $503,000. Fifth Third Wealth Advisors LLC boosted its holdings in shares of Marathon Petroleum by 3.3% during the first quarter. Fifth Third Wealth Advisors LLC now owns 10,623 shares of the oil and gas company’s stock worth $2,594,000 after purchasing an additional 336 shares during the period. Banque Cantonale Vaudoise grew its stake in shares of Marathon Petroleum by 188.3% in the first quarter. Banque Cantonale Vaudoise now owns 4,795 shares of the oil and gas company’s stock worth $1,171,000 after purchasing an additional 3,132 shares during the last quarter. Finally, Apella Capital LLC purchased a new position in Marathon Petroleum during the 1st quarter valued at about $337,000. Institutional investors own 76.77% of the company’s stock.

Insider Buying and Selling

In other news, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction 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 in the company, valued at approximately $4,543,058. The trade was a 27.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Citigroup upped their price target on Marathon Petroleum from $243.00 to $257.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Zacks Research cut Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 17th. TD Cowen upped their target price on Marathon Petroleum to $320.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $344.00 price target on shares of Marathon Petroleum in a research note on Monday, June 15th. Finally, Wall Street Zen raised shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. Ten equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $272.94.

Marathon Petroleum Stock Performance

Marathon Petroleum stock opened at $252.79 on Friday. Marathon Petroleum Corporation has a fifty-two week low of $158.00 and a fifty-two week high of $272.46. The stock’s 50 day simple moving average is $247.18 and its two-hundred day simple moving average is $216.09. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18. The stock has a market cap of $73.80 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 0.38 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The firm had revenue of $34.20 billion during the quarter, compared to analyst estimates of $33.42 billion. During the same quarter in the prior year, the company earned ($0.24) EPS. The business’s revenue was up 8.5% compared to the same quarter last year. As a group, analysts expect that Marathon Petroleum Corporation will post 31.35 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were issued a $1.00 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $4.00 dividend on an annualized basis and a yield of 1.6%. Marathon Petroleum’s dividend payout ratio is 26.11%.

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.