NewEdge Wealth LLC Purchases 2,848 Shares of Marathon Petroleum Corporation $MPC

NewEdge Wealth LLC lifted its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 44.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 9,298 shares of the oil and gas company’s stock after purchasing an additional 2,848 shares during the quarter. NewEdge Wealth LLC’s holdings in Marathon Petroleum were worth $1,512,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MPC. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Marathon Petroleum in the fourth quarter valued at approximately $31,000. KERR FINANCIAL PLANNING Corp acquired a new stake in Marathon Petroleum in the 3rd quarter valued at $39,000. WFA of San Diego LLC acquired a new position in shares of Marathon Petroleum during the 2nd quarter worth about $33,000. IAG Wealth Partners LLC acquired a new position in shares of Marathon Petroleum during the 3rd quarter worth about $39,000. Finally, Ares Financial Consulting LLC bought a new position in shares of Marathon Petroleum in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. TD Cowen upped their target price on Marathon Petroleum to $320.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Zacks Research raised Marathon Petroleum from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 7th. JPMorgan Chase & Co. increased their price objective on Marathon Petroleum from $235.00 to $257.00 in a report on Wednesday, May 6th. Scotiabank raised their target price on shares of Marathon Petroleum from $174.00 to $210.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. Finally, Mizuho boosted their target price on shares of Marathon Petroleum from $205.00 to $224.00 and gave the stock a “neutral” rating in a report on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average target price of $259.44.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, insider Ricky D. Hessling sold 1,626 shares of the company’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $228.18, for a total value of $371,020.68. Following the transaction, the insider directly owned 7,525 shares of the company’s stock, valued at $1,717,054.50. This represents a 17.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 4,473 shares of company stock valued at $1,015,428. Insiders own 0.17% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of NYSE MPC opened at $249.31 on Thursday. The company has a current ratio of 1.18, a quick ratio of 0.73 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $72.78 billion, a P/E ratio of 16.27, a P/E/G ratio of 0.34 and a beta of 0.53. Marathon Petroleum Corporation has a 12 month low of $154.65 and a 12 month high of $261.61. The stock has a 50 day moving average of $233.15 and a 200-day moving average of $202.71.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, beating 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 business had revenue of $34.20 billion during the quarter, compared to the consensus estimate of $33.42 billion. During the same quarter last year, the firm posted ($0.24) EPS. The company’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, equities research analysts predict that Marathon Petroleum Corporation will post 28.83 EPS for the current year.

Marathon Petroleum Announces Dividend

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

Marathon Petroleum News Summary

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

• Positive Sentiment: BMO Capital Markets raised its price target on Marathon Petroleum to $290 from $255 and kept an outperform rating, signaling higher expectations for the shares. BMO Capital Adjusts Price Target on Marathon Petroleum to 290 From 255, Maintains Outperform Rating
• Positive Sentiment: Marathon Petroleum recently reported a strong Q1 earnings beat, with refining margins improving and a newly announced $5 billion buyback adding support for shareholder returns. MPC Q1 Earnings Beat Estimates on Strong Refining Results
• Positive Sentiment: Higher crude and fuel market volatility tied to Middle East supply disruption is widening refining crack spreads, which can lift earnings for refiners like MPC that process discounted crude into more valuable gasoline and diesel. The Great SPR Arbitrage: An Oil Market Glitch Fuels Sector Gains
• Neutral Sentiment: Analysts have been revisiting Marathon Petroleum’s fair value estimate, which was updated higher to $256.83 per share, reflecting evolving assumptions around oil and natural gas markets. How The Marathon Petroleum (MPC) Story Is Shifting As Analyst Views And Assumptions Evolve
• Neutral Sentiment: MPC is also drawing attention as a trending stock, suggesting investors are actively re-evaluating the name after the latest earnings and analyst updates. Is Trending Stock Marathon Petroleum Corporation (MPC) a Buy Now?
• Negative Sentiment: Any easing of geopolitical tensions, a drop in oil prices, or policy pushback against high fuel prices could compress refining margins and reduce the earnings tailwind for Marathon Petroleum.

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.