Royal Capital Wealth Management LLC Purchases Shares of 1,860 Marathon Petroleum Corporation $MPC

Royal Capital Wealth Management LLC purchased a new position in Marathon Petroleum Corporation (NYSE:MPC) in the second quarter, HoldingsChannel reports. The firm purchased 1,860 shares of the oil and gas company’s stock, valued at approximately $476,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MPC. BlackRock Inc. bought a new position in Marathon Petroleum in the 2nd quarter worth $6,648,958,000. State Street Corp increased its stake in Marathon Petroleum by 0.3% in the 4th quarter. State Street Corp now owns 17,934,327 shares of the oil and gas company’s stock worth $2,916,660,000 after buying an additional 47,896 shares in the last quarter. Boston Partners raised its holdings in Marathon Petroleum by 2.3% during the third quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company’s stock valued at $1,214,522,000 after acquiring an additional 141,691 shares during the period. Bank of New York Mellon Corp bought a new stake in Marathon Petroleum during the second quarter valued at about $1,029,611,000. Finally, Norges Bank purchased a new position in shares of Marathon Petroleum in the fourth quarter valued at about $472,312,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Shawn M. Lyon sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $350.00, for a total transaction of $875,000.00. Following the sale, the senior vice president directly owned 12,619 shares of the company’s stock, valued at $4,416,650. This represents a 16.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Molly R. Benson sold 17,196 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $358.57, for a total value of $6,165,969.72. Following the sale, the insider directly owned 30,334 shares in the company, valued at $10,876,862.38. This trade represents a 36.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 26,032 shares of company stock valued at $8,744,213 in the last quarter. 0.17% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Piper Sandler upped their price objective on Marathon Petroleum from $343.00 to $344.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Weiss Ratings raised Marathon Petroleum from a “hold (c+)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Zacks Research cut Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 17th. The Goldman Sachs Group upped their price target on Marathon Petroleum from $291.00 to $376.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Finally, Mizuho increased their price objective on shares of Marathon Petroleum from $284.00 to $304.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $312.50.

Marathon Petroleum Stock Up 0.4%

MPC opened at $362.34 on Tuesday. The firm has a 50-day simple moving average of $299.48 and a two-hundred day simple moving average of $256.01. Marathon Petroleum Corporation has a 52 week low of $161.93 and a 52 week high of $367.60. The company has a market capitalization of $105.78 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52. 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 (NYSE:MPC) last issued its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.27 by $3.46. The firm had revenue of $51.99 billion for the quarter, compared to analysts’ expectations of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The business’s revenue was up 53.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.96 earnings per share. Analysts forecast that Marathon Petroleum Corporation will post 46.66 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $4.00 dividend on an annualized basis and a yield of 1.1%. Marathon Petroleum’s payout ratio is presently 13.75%.

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.