Independent Advisor Alliance Grows Position in Marathon Petroleum Corp (MPC)

Independent Advisor Alliance increased its position in shares of Marathon Petroleum Corp (NYSE:MPC) by 8.9% during the first quarter, Holdings Channel reports. The institutional investor owned 6,493 shares of the oil and gas company’s stock after buying an additional 531 shares during the quarter. Independent Advisor Alliance’s holdings in Marathon Petroleum were worth $389,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. Hanson McClain Inc. acquired a new stake in Marathon Petroleum during the 4th quarter worth approximately $25,000. Alpha Omega Wealth Management LLC lifted its position in Marathon Petroleum by 135.1% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 435 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 250 shares during the period. Certified Advisory Corp lifted its position in Marathon Petroleum by 71.2% during the 4th quarter. Certified Advisory Corp now owns 476 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 198 shares during the period. SeaBridge Investment Advisors LLC acquired a new stake in Marathon Petroleum during the 4th quarter worth approximately $30,000. Finally, Berman Capital Advisors LLC acquired a new stake in Marathon Petroleum during the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 77.93% of the company’s stock.

MPC opened at $51.95 on Friday. The company has a quick ratio of 0.55, a current ratio of 1.20 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $35.03 billion, a PE ratio of 7.66, a price-to-earnings-growth ratio of 1.33 and a beta of 1.35. Marathon Petroleum Corp has a 12 month low of $50.19 and a 12 month high of $88.45.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Wednesday, May 8th. The oil and gas company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.10). The business had revenue of $28.62 billion during the quarter, compared to analyst estimates of $27.70 billion. Marathon Petroleum had a net margin of 2.56% and a return on equity of 11.10%. The firm’s quarterly revenue was up 50.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.08 earnings per share. As a group, research analysts forecast that Marathon Petroleum Corp will post 4.95 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be issued a $0.53 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $2.12 annualized dividend and a dividend yield of 4.08%. Marathon Petroleum’s dividend payout ratio is currently 31.27%.

MPC has been the subject of a number of recent research reports. Wells Fargo & Co decreased their price objective on Marathon Petroleum from $96.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Morgan Stanley decreased their price objective on Marathon Petroleum from $85.00 to $82.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Raymond James decreased their price objective on Marathon Petroleum from $85.00 to $80.00 and set a “strong-buy” rating for the company in a research report on Thursday, May 9th. ValuEngine cut Marathon Petroleum from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. Finally, Cowen reaffirmed an “outperform” rating and set a $90.00 price objective (down from $101.00) on shares of Marathon Petroleum in a research report on Monday, May 6th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $85.68.

In other news, CEO Gary R. Heminger sold 187,142 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $65.00, for a total value of $12,164,230.00. Following the completion of the sale, the chief executive officer now directly owns 434,166 shares of the company’s stock, valued at approximately $28,220,790. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Donald C. Templin purchased 5,000 shares of Marathon Petroleum stock in a transaction dated Wednesday, May 15th. The stock was acquired at an average cost of $50.74 per share, with a total value of $253,700.00. Following the completion of the acquisition, the insider now directly owns 93,182 shares in the company, valued at $4,728,054.68. The disclosure for this purchase can be found here. 1.06% of the stock is owned by company insiders.

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About Marathon Petroleum

Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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