OneAscent Wealth Management LLC Purchases Shares of 1,716 Marathon Petroleum Corporation $MPC

OneAscent Wealth Management LLC acquired a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,716 shares of the oil and gas company’s stock, valued at approximately $439,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its holdings in Marathon Petroleum by 3.2% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,288 shares of the oil and gas company’s stock worth $329,000 after buying an additional 40 shares in the last quarter. Equitable Trust Co. lifted its stake in Marathon Petroleum by 1.6% during the 1st quarter. Equitable Trust Co. now owns 2,637 shares of the oil and gas company’s stock valued at $644,000 after acquiring an additional 42 shares in the last quarter. Bartlett & CO. Wealth Management LLC boosted its holdings in Marathon Petroleum by 0.4% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 9,548 shares of the oil and gas company’s stock worth $2,411,000 after acquiring an additional 42 shares during the last quarter. Wellington Grp LLC grew its stake in shares of Marathon Petroleum by 9.6% in the 1st quarter. Wellington Grp LLC now owns 516 shares of the oil and gas company’s stock worth $126,000 after acquiring an additional 45 shares in the last quarter. Finally, Avior Wealth Management LLC grew its stake in shares of Marathon Petroleum by 2.2% in the 2nd quarter. Avior Wealth Management LLC now owns 2,108 shares of the oil and gas company’s stock worth $539,000 after acquiring an additional 46 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marathon Petroleum

In related news, SVP Shawn M. Lyon sold 2,500 shares of Marathon Petroleum stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $350.00, for a total value of $875,000.00. Following the completion of the sale, the senior vice president owned 12,619 shares of the company’s stock, valued at approximately $4,416,650. This trade represents a 16.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the transaction, the vice president owned 16,900 shares of the company’s stock, valued at $4,543,058. This represents a 27.27% decrease in their position. The SEC filing for this sale provides additional information. 0.17% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on MPC. Mizuho raised 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. The Goldman Sachs Group increased their price objective on shares of Marathon Petroleum from $291.00 to $376.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. BMO Capital Markets reissued an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, June 12th. Evercore set a $330.00 target price on Marathon Petroleum in a research note on Wednesday, August 5th. Finally, Citigroup increased their price target on Marathon Petroleum from $303.00 to $318.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. 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 1.1%

MPC opened at $362.18 on Friday. Marathon Petroleum Corporation has a twelve month low of $161.93 and a twelve month high of $367.60. The company’s 50-day moving average price is $297.25 and its two-hundred day moving average price is $254.23. The stock has a market cap of $105.73 billion, a price-to-earnings ratio of 12.45, a PEG 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 quarterly 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 company had revenue of $51.99 billion during the quarter, compared to analyst estimates of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. Marathon Petroleum’s quarterly revenue was up 53.5% compared to the same quarter last year. During the same quarter last year, the business posted $3.96 EPS. As a group, equities analysts expect that Marathon Petroleum Corporation will post 46.66 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently announced 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 is Wednesday, August 19th. This represents a $4.00 annualized dividend and a dividend 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.