Shakespeare Wealth Management LLC Purchases 1,868 Shares of Marathon Petroleum Corporation $MPC

Shakespeare Wealth Management LLC bought a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 1,868 shares of the oil and gas company’s stock, valued at approximately $739,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. D.A. Davidson & CO. raised its position in shares of Marathon Petroleum by 5.2% during the third quarter. D.A. Davidson & CO. now owns 37,518 shares of the oil and gas company’s stock worth $14,835,000 after purchasing an additional 1,840 shares during the period. North Dakota State Investment Board lifted its holdings in shares of Marathon Petroleum by 0.8% during the 3rd quarter. North Dakota State Investment Board now owns 9,011 shares of the oil and gas company’s stock valued at $3,563,000 after purchasing an additional 69 shares in the last quarter. VestGen Advisors LLC lifted its holdings in shares of Marathon Petroleum by 5.2% during the 3rd quarter. VestGen Advisors LLC now owns 9,645 shares of the oil and gas company’s stock valued at $3,814,000 after purchasing an additional 474 shares in the last quarter. Vaquero Private Wealth Ltd. acquired a new position in shares of Marathon Petroleum in the 3rd quarter valued at approximately $39,000. Finally, Laurel Wealth Advisors LLC acquired a new position in shares of Marathon Petroleum in the 3rd quarter valued at approximately $202,000. 76.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

MPC has been the topic of a number of research reports. Citigroup lifted their price target on shares of Marathon Petroleum from $318.00 to $518.00 and gave the company a “neutral” rating in a research note on Tuesday, October 13th. Wells Fargo & Company raised their price objective on shares of Marathon Petroleum from $400.00 to $560.00 and gave the stock an “overweight” rating in a report on Wednesday, October 14th. Piper Sandler boosted their price objective on shares of Marathon Petroleum from $344.00 to $462.00 and gave the company an “overweight” rating in a research report on Thursday, September 3rd. Zacks Research raised shares of Marathon Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 4th. Finally, Weiss Ratings upgraded Marathon Petroleum from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and a consensus price target of $424.31.

Marathon Petroleum Price Performance

Shares of MPC opened at $433.30 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. Marathon Petroleum Corporation has a twelve month low of $161.93 and a twelve month high of $493.98. The stock has a market capitalization of $126.50 billion, a P/E ratio of 14.90, a P/E/G ratio of 0.12 and a beta of 0.54. The company has a 50 day moving average of $416.08 and a 200-day moving average of $288.43.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, topping 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 business had revenue of $51.99 billion for the quarter, compared to analyst estimates of $40.87 billion. During the same quarter in the previous year, the firm posted $3.96 earnings per share. The firm’s revenue for the quarter was up 53.5% on a year-over-year basis. As a group, equities research analysts forecast that Marathon Petroleum Corporation will post 64.12 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 0.9%. The ex-dividend date is Wednesday, November 18th. Marathon Petroleum’s payout ratio is presently 13.75%.

Key Stories Impacting Marathon Petroleum

Here are the key news stories impacting Marathon Petroleum this week:

• Positive Sentiment: Marathon Petroleum increased its quarterly dividend by 10% to $1.10 per share, payable December 10 to shareholders of record on November 18. The hike signals confidence in cash generation and strengthens the income-investment case. Marathon Petroleum Corp. Increases Quarterly Dividend
• Positive Sentiment: Analysts and Zacks point to strong refining performance, rising earnings estimates, fuel demand and shareholder returns as reasons MPC could remain attractive. Its low PEG ratio and recent profit growth also support the value argument. MPC Stock Gains on Refining Strength
• Positive Sentiment: Several previews characterize MPC as discounted relative to its long-term performance and a potential momentum or value opportunity ahead of its third-quarter results. Marathon Petroleum Stock Looks Discounted

Insiders Place Their Bets

In other news, VP Erin M. Brzezinski sold 570 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total transaction of $206,790.30. Following the sale, the vice president owned 1,576 shares in the company, valued at $571,757.04. This represents a 26.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Molly R. Benson sold 17,196 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $358.57, for a total value of $6,165,969.72. Following the completion of the sale, the insider directly owned 30,334 shares of the company’s stock, valued at approximately $10,876,862.38. The trade was a 36.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders have 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 corporate insiders.

About Marathon Petroleum

Marathon Petroleum Corporation (NYSE:MPC) is an American downstream energy company engaged in refining, marketing, and transporting petroleum products. Its operations include converting crude oil into gasoline, diesel, jet fuel, asphalt, propane, and other refined products used by transportation, industrial, and commercial customers.

The company markets fuel under the Marathon brand and supplies products to independent marketers, commercial businesses, and other wholesale customers. Marathon Petroleum also owns a general-partner interest and significant limited-partner interest in MPLX Inc, a midstream company that operates pipelines, storage facilities, terminals, and gathering and processing assets supporting the movement of crude oil and natural gas liquids.

Marathon Petroleum’s refining and midstream activities are concentrated in the United States, with assets serving regions across the Midwest, Gulf Coast, and West Coast.