Simplicity Wealth LLC Invests $750,000 in Marathon Petroleum Corporation $MPC

Simplicity Wealth LLC purchased a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,933 shares of the oil and gas company’s stock, valued at approximately $750,000.

Several other institutional investors and hedge funds also recently bought and sold shares of MPC. Uniting Wealth Partners LLC acquired a new stake in Marathon Petroleum during the second quarter worth $596,000. Trivium Point Advisory LLC acquired a new stake in shares of Marathon Petroleum during the 2nd quarter worth about $1,468,000. RW Investment Management LLC purchased a new stake in Marathon Petroleum in the 2nd quarter valued at about $720,000. HBK Sorce Advisory LLC acquired a new position in Marathon Petroleum in the second quarter valued at about $1,294,000. Finally, Tulsa Wealth Advisors INC acquired a new position in Marathon Petroleum in the second quarter valued at about $8,442,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MPC has been the subject of a number of recent analyst reports. Mizuho lifted their price target on shares of Marathon Petroleum from $284.00 to $304.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Piper Sandler increased their price objective on shares of Marathon Petroleum from $343.00 to $344.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Zacks Research downgraded shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 17th. Evercore set a $330.00 target price on Marathon Petroleum in a research report on Wednesday, August 5th. Finally, Barclays upped their price target on Marathon Petroleum from $289.00 to $321.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $312.50.

Insider Buying and Selling at Marathon Petroleum

In related news, SVP Shawn M. Lyon sold 2,500 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $350.00, for a total value of $875,000.00. Following the transaction, the senior vice president owned 12,619 shares of the company’s stock, valued at $4,416,650. This represents a 16.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $4,543,058. This represents a 27.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.17% of the company’s stock.

Marathon Petroleum Stock Up 1.2%

Shares of NYSE:MPC opened at $359.78 on Tuesday. Marathon Petroleum Corporation has a fifty-two week low of $160.87 and a fifty-two week high of $363.34. The firm’s 50 day moving average price is $289.19 and its 200 day moving average price is $249.51. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. The stock has a market cap of $105.03 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, topping the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The company had revenue of $51.99 billion during the quarter, compared to analysts’ expectations of $40.87 billion. During the same quarter in the previous year, the business posted $3.96 EPS. The firm’s revenue was up 53.5% on a year-over-year basis. As a group, equities research analysts predict that Marathon Petroleum Corporation will post 46.66 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

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

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.