Marathon Petroleum Corporation $MPC Shares Purchased by Gibbs Wealth Management

Gibbs Wealth Management boosted its position in Marathon Petroleum Corporation (NYSE:MPC) by 83.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,938 shares of the oil and gas company’s stock after buying an additional 2,696 shares during the period. Gibbs Wealth Management’s holdings in Marathon Petroleum were worth $1,450,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in Marathon Petroleum during the 4th quarter valued at approximately $472,312,000. Capital Wealth Planning LLC increased its stake in shares of Marathon Petroleum by 49,392.0% in the fourth quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock worth $245,157,000 after acquiring an additional 1,495,097 shares during the period. Pacer Advisors Inc. increased its stake in shares of Marathon Petroleum by 3,816.8% in the fourth quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company’s stock worth $212,517,000 after acquiring an additional 1,273,386 shares during the period. GHE LLC raised its holdings in shares of Marathon Petroleum by 1,939.8% during the first quarter. GHE LLC now owns 649,542 shares of the oil and gas company’s stock worth $158,605,000 after purchasing an additional 617,699 shares during the last quarter. Finally, Man Group plc lifted its position in Marathon Petroleum by 2,175.0% during the fourth quarter. Man Group plc now owns 568,790 shares of the oil and gas company’s stock valued at $92,502,000 after purchasing an additional 543,788 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. TD Cowen increased their price target on Marathon Petroleum from $315.00 to $357.00 and gave the stock a “buy” rating in a research report on Tuesday. Barclays boosted their price objective on Marathon Petroleum from $270.00 to $289.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Wall Street Zen upgraded Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. Piper Sandler reaffirmed an “overweight” rating and set a $343.00 target price on shares of Marathon Petroleum in a report on Thursday. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $344.00 price target on shares of Marathon Petroleum in a research report on Monday, June 15th. Eleven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Marathon Petroleum has a consensus rating of “Moderate Buy” and an average target price of $298.69.

Insider Transactions at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction on 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 sale, the vice president owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Marathon Petroleum Price Performance

Shares of Marathon Petroleum stock opened at $311.92 on Friday. The firm has a market cap of $91.06 billion, a PE ratio of 20.36, a P/E/G ratio of 0.42 and a beta of 0.52. Marathon Petroleum Corporation has a twelve month low of $158.00 and a twelve month high of $326.92. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31. The business has a 50-day moving average price of $267.58 and a 200 day moving average price of $232.08.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.91. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The company had revenue of $34.20 billion for the quarter, compared to the consensus estimate of $33.42 billion. During the same quarter in the prior year, the business posted ($0.24) earnings per share. Marathon Petroleum’s revenue for the quarter was up 8.5% on a year-over-year basis. Sell-side analysts predict that Marathon Petroleum Corporation will post 35.82 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were given a dividend of $1.00 per share. The ex-dividend date was Wednesday, May 20th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.3%. Marathon Petroleum’s dividend payout ratio (DPR) is 26.11%.

About Marathon Petroleum

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.