Signal Advisors Wealth LLC Takes $605,000 Position in Marathon Petroleum Corporation $MPC

Signal Advisors Wealth LLC bought a new position in Marathon Petroleum Corporation (NYSE:MPC) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,477 shares of the oil and gas company’s stock, valued at approximately $605,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank bought a new stake in Marathon Petroleum in the fourth quarter valued at $472,312,000. Capital Wealth Planning LLC lifted its holdings in shares of Marathon Petroleum by 49,392.0% during the fourth quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock valued at $245,157,000 after acquiring an additional 1,495,097 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Marathon Petroleum by 3,816.8% in the 4th quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company’s stock valued at $212,517,000 after purchasing an additional 1,273,386 shares in the last quarter. Man Group plc boosted its stake in shares of Marathon Petroleum by 2,175.0% in the 4th quarter. Man Group plc now owns 568,790 shares of the oil and gas company’s stock valued at $92,502,000 after purchasing an additional 543,788 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Marathon Petroleum by 104.8% in the 4th quarter. Victory Capital Management Inc. now owns 1,055,897 shares of the oil and gas company’s stock worth $171,721,000 after purchasing an additional 540,283 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on MPC. Citigroup lifted their price target on shares of Marathon Petroleum from $243.00 to $257.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Scotiabank upped their price objective on shares of Marathon Petroleum from $174.00 to $210.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. Wells Fargo & Company reaffirmed an “overweight” rating and set a $344.00 price objective on shares of Marathon Petroleum in a report on Monday, June 15th. BMO Capital Markets reiterated an “outperform” rating on shares of Marathon Petroleum in a research note on Friday, June 12th. Finally, Wall Street Zen raised Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 10th. Ten research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $272.94.

Marathon Petroleum Stock Performance

Marathon Petroleum stock opened at $246.42 on Thursday. The stock has a 50-day simple moving average of $246.61 and a 200 day simple moving average of $215.65. The stock has a market capitalization of $71.94 billion, a price-to-earnings ratio of 16.08, a P/E/G ratio of 0.38 and a beta of 0.52. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a 12-month low of $158.00 and a 12-month high of $272.46.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.91. The firm had revenue of $34.20 billion for the quarter, compared to analyst estimates of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The company’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.24) EPS. On average, research analysts anticipate that Marathon Petroleum Corporation will post 31.35 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Wednesday, May 20th. Marathon Petroleum’s dividend payout ratio is 26.11%.

Insider Buying and Selling at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total value 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 $4,543,058. This trade represents a 27.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.17% of the stock is currently owned by corporate insiders.

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.