Harbour Wealth Management Group Inc. Acquires Shares of 3,508 Marathon Petroleum Corporation $MPC

Harbour Wealth Management Group Inc. acquired a new stake in Marathon Petroleum Corporation (NYSE:MPC) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 3,508 shares of the oil and gas company’s stock, valued at approximately $571,000.

Other hedge funds have also modified their holdings of the company. Corient Private Wealth LLC raised its stake in Marathon Petroleum by 8.7% during the fourth quarter. Corient Private Wealth LLC now owns 151,427 shares of the oil and gas company’s stock worth $23,214,000 after acquiring an additional 12,167 shares in the last quarter. Alberta Investment Management Corp grew its holdings in shares of Marathon Petroleum by 90.7% in the 4th quarter. Alberta Investment Management Corp now owns 28,600 shares of the oil and gas company’s stock worth $4,651,000 after purchasing an additional 13,600 shares during the last quarter. CrossGen Wealth LLC acquired a new stake in shares of Marathon Petroleum during the 4th quarter worth about $2,615,000. Ameriflex Group Inc. increased its position in shares of Marathon Petroleum by 15.0% during the 4th quarter. Ameriflex Group Inc. now owns 474 shares of the oil and gas company’s stock worth $77,000 after purchasing an additional 62 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in Marathon Petroleum by 8.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 81,864 shares of the oil and gas company’s stock valued at $13,314,000 after purchasing an additional 6,415 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Price Performance

Shares of MPC stock opened at $243.11 on Friday. The firm has a market cap of $70.97 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 0.38 and a beta of 0.52. Marathon Petroleum Corporation has a 12 month low of $158.00 and a 12 month high of $272.46. 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 stock has a 50-day moving average price of $244.96 and a 200 day moving average price of $214.12.

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

Marathon Petroleum Dividend Announcement

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

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum 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 transaction of $1,703,243.52. Following the completion of the sale, the vice president owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. The trade was a 27.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.17% of the company’s stock.

Key Headlines Impacting Marathon Petroleum

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

• Positive Sentiment: Wall Street’s broadly bullish analyst views suggest investors still see upside potential in Marathon Petroleum, even after its strong recent performance. Is It Worth Investing in Marathon Petroleum (MPC) Based on Wall Street’s Bullish Views?
• Positive Sentiment: One market analysis said MPC could be about 5.5% undervalued, which may attract value-focused buyers if investors believe the refining business remains resilient. Marathon Petroleum (MPC) Stock Could Be 5.5% Undervalued Despite Its Strong Run
• Neutral Sentiment: Recent coverage comparing MPC with Delek and other refiners is keeping attention on valuation and earnings revisions, but it does not point to a clear near-term catalyst on its own. Delek vs. Marathon Petroleum: Which Stock Offers Better Refining Bet?
• Negative Sentiment: A trading-day recap noted that MPC declined more than the broader market, signaling some profit-taking or weaker sentiment in the near term. Marathon Petroleum (MPC) Sees a More Significant Dip Than Broader Market: Some Facts to Know
• Negative Sentiment: Oil-market headlines about the Strait of Hormuz reopening could weigh on refining and energy sentiment if traders expect less geopolitical support for crude prices. Marathon Petroleum (MPC) Faces A New Oil Reality As The Strait Of Hormuz Reopens

Analysts Set New Price Targets

Several analysts have weighed in on the stock. UBS Group set a $285.00 price objective on shares of Marathon Petroleum in a research note on Wednesday, May 6th. Zacks Research raised Marathon Petroleum from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 7th. The Goldman Sachs Group increased their target price on Marathon Petroleum from $264.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Raymond James Financial lifted their price target on Marathon Petroleum from $285.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, June 10th. Finally, Mizuho increased their price objective on shares of Marathon Petroleum from $224.00 to $284.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $272.94.

Marathon Petroleum 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.