Sanchez Levi Garrett Makes New $562,000 Investment in Marathon Petroleum Corporation $MPC

Sanchez Levi Garrett bought a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 2,198 shares of the oil and gas company’s stock, valued at approximately $562,000. Marathon Petroleum accounts for approximately 0.3% of Sanchez Levi Garrett’s holdings, making the stock its 28th biggest holding.

A number of other hedge funds have also modified their holdings of MPC. BlackRock Inc. bought a new position in Marathon Petroleum during the 2nd quarter worth approximately $6,648,958,000. Bank of New York Mellon Corp bought a new stake in Marathon Petroleum in the second quarter valued at approximately $1,029,611,000. Norges Bank acquired a new stake in Marathon Petroleum in the fourth quarter worth $472,312,000. Bank of America Corp DE bought a new position in shares of Marathon Petroleum during the second quarter worth $621,832,000. Finally, Capital Wealth Planning LLC boosted its position 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 worth $245,157,000 after purchasing an additional 1,495,097 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Piper Sandler upped their price objective on shares of Marathon Petroleum from $343.00 to $344.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Barclays lifted their target price on Marathon Petroleum from $289.00 to $321.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Wells Fargo & Company boosted their target price on Marathon Petroleum from $344.00 to $359.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Raymond James Financial increased their price target on Marathon Petroleum from $300.00 to $335.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Finally, Wall Street Zen upgraded Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 10th. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $312.50.

Marathon Petroleum Trading Up 2.2%

MPC opened at $362.70 on Thursday. The stock has a market capitalization of $105.89 billion, a P/E ratio of 12.47, a P/E/G ratio of 0.23 and a beta of 0.52. Marathon Petroleum Corporation has a 12 month low of $161.93 and a 12 month high of $367.60. The firm’s fifty day simple moving average is $303.95 and its 200 day simple moving average is $258.31. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, topping analysts’ consensus estimates of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The firm had revenue of $51.99 billion during the quarter, compared to analyst estimates of $40.87 billion. During the same period in the prior year, the business earned $3.96 EPS. The company’s revenue for the quarter was up 53.5% compared to the same quarter last year. As a group, research analysts anticipate that Marathon Petroleum Corporation will post 46.66 EPS 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. 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 yield of 1.1%. Marathon Petroleum’s payout ratio is presently 13.75%.

Insider Buying and Selling at Marathon Petroleum

In other news, SVP Shawn M. Lyon sold 2,500 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $350.00, for a total value of $875,000.00. Following the sale, the senior vice president directly owned 12,619 shares in the company, valued at $4,416,650. This trade represents a 16.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael A. Henschen II sold 6,336 shares of the business’s 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 sale, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. This trade represents a 27.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 26,032 shares of company stock worth $8,744,213. Corporate insiders own 0.17% of the company’s stock.

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.