Sagespring Wealth Partners LLC Purchases 8,553 Shares of Marathon Petroleum Corporation $MPC

Sagespring Wealth Partners LLC increased its position in Marathon Petroleum Corporation (NYSE:MPC) by 37.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,245 shares of the oil and gas company’s stock after purchasing an additional 8,553 shares during the period. Sagespring Wealth Partners LLC’s holdings in Marathon Petroleum were worth $5,081,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Delos Wealth Advisors LLC acquired a new position in Marathon Petroleum during the second quarter worth $25,000. WFA of San Diego LLC acquired a new position in shares of Marathon Petroleum during the second quarter valued at about $33,000. Transce3nd LLC grew its holdings in shares of Marathon Petroleum by 10,250.0% during the second quarter. Transce3nd LLC now owns 207 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 205 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Marathon Petroleum during the second quarter worth about $38,000. Finally, IAG Wealth Partners LLC bought a new position in Marathon Petroleum in the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Wall Street Zen raised Marathon Petroleum from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Weiss Ratings lowered Marathon Petroleum from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. UBS Group reiterated a “buy” rating and set a $221.00 price target on shares of Marathon Petroleum in a report on Friday, February 6th. The Goldman Sachs Group increased their price target on Marathon Petroleum from $211.00 to $239.00 and gave the company a “buy” rating in a research report on Thursday, March 12th. Finally, Barclays dropped their price objective on Marathon Petroleum from $202.00 to $194.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. Ten investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $205.44.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $232.91 on Friday. The company has a market capitalization of $68.59 billion, a PE ratio of 17.45, a PEG ratio of 1.41 and a beta of 0.69. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 1.27. The stock’s 50 day moving average price is $199.02 and its 200-day moving average price is $190.07. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $242.98.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 EPS for the quarter, beating analysts’ consensus estimates of $3.73 by $0.34. The company had revenue of $32.57 billion during the quarter, compared to the consensus estimate of $30.89 billion. Marathon Petroleum had a return on equity of 13.90% and a net margin of 2.99%.Marathon Petroleum’s revenue was down .1% on a year-over-year basis. During the same period last year, the business posted $0.77 earnings per share. On average, equities analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 18th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Wednesday, February 18th. This represents a $4.00 annualized dividend and a dividend yield of 1.7%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 29.96%.

Insider Activity at Marathon Petroleum

In other news, insider Ricky D. Hessling sold 1,626 shares of Marathon Petroleum stock in a transaction on Friday, March 13th. The stock was sold at an average price of $228.18, for a total transaction of $371,020.68. Following the sale, the insider directly owned 7,525 shares in the company, valued at $1,717,054.50. The trade was a 17.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 4,473 shares of company stock worth $1,015,428. Insiders own 0.21% of the company’s stock.

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.