Meridian Wealth Advisors LLC Has $664,000 Stake in Marathon Petroleum Corp (MPC)

Meridian Wealth Advisors LLC lifted its holdings in shares of Marathon Petroleum Corp (NYSE:MPC) by 10.9% during the 1st quarter, Holdings Channel reports. The firm owned 11,102 shares of the oil and gas company’s stock after buying an additional 1,093 shares during the period. Meridian Wealth Advisors LLC’s holdings in Marathon Petroleum were worth $664,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Greatmark Investment Partners Inc. boosted its holdings in shares of Marathon Petroleum by 347.8% during the 4th quarter. Greatmark Investment Partners Inc. now owns 38,530 shares of the oil and gas company’s stock worth $2,274,000 after buying an additional 29,925 shares during the period. Kwmg LLC boosted its holdings in shares of Marathon Petroleum by 14.9% during the 4th quarter. Kwmg LLC now owns 32,755 shares of the oil and gas company’s stock worth $1,933,000 after buying an additional 4,259 shares during the period. Barings LLC boosted its holdings in shares of Marathon Petroleum by 30.5% during the 4th quarter. Barings LLC now owns 51,550 shares of the oil and gas company’s stock worth $3,042,000 after buying an additional 12,050 shares during the period. Investec Asset Management LTD boosted its holdings in shares of Marathon Petroleum by 452.8% during the 4th quarter. Investec Asset Management LTD now owns 492,095 shares of the oil and gas company’s stock worth $29,039,000 after buying an additional 403,079 shares during the period. Finally, Toronto Dominion Bank boosted its holdings in shares of Marathon Petroleum by 108.3% during the 1st quarter. Toronto Dominion Bank now owns 819,141 shares of the oil and gas company’s stock worth $49,019,000 after buying an additional 425,808 shares during the period. Institutional investors own 77.93% of the company’s stock.

Shares of Marathon Petroleum stock traded down $0.75 during mid-day trading on Friday, reaching $52.11. 873,068 shares of the stock were exchanged, compared to its average volume of 7,335,413. The stock has a market capitalization of $33.92 billion, a P/E ratio of 7.69, a price-to-earnings-growth ratio of 1.26 and a beta of 1.35. The company has a quick ratio of 0.55, a current ratio of 1.20 and a debt-to-equity ratio of 0.69. Marathon Petroleum Corp has a fifty-two week low of $50.19 and a fifty-two week high of $88.45.



Marathon Petroleum (NYSE:MPC) last announced its earnings results on Wednesday, May 8th. The oil and gas company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.10). The firm had revenue of $28.62 billion for the quarter, compared to analyst estimates of $27.70 billion. Marathon Petroleum had a return on equity of 11.10% and a net margin of 2.56%. The company’s revenue for the quarter was up 50.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.08 EPS. On average, equities analysts anticipate that Marathon Petroleum Corp will post 5.04 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 4.07%. The ex-dividend date is Wednesday, May 15th. Marathon Petroleum’s payout ratio is presently 31.27%.

Several analysts recently issued reports on the stock. Cowen downgraded shares of Marathon Petroleum from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $90.00 to $65.00 in a report on Friday, May 10th. Raymond James decreased their price objective on shares of Marathon Petroleum from $85.00 to $80.00 and set a “strong-buy” rating for the company in a report on Thursday, May 9th. Wells Fargo & Co decreased their price objective on shares of Marathon Petroleum from $96.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, May 9th. Morgan Stanley decreased their price objective on shares of Marathon Petroleum from $82.00 to $75.00 and set an “overweight” rating for the company in a report on Friday. Finally, Zacks Investment Research cut shares of Marathon Petroleum from a “hold” rating to a “strong sell” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. Marathon Petroleum currently has an average rating of “Buy” and an average target price of $85.68.

In other Marathon Petroleum news, CEO Gary R. Heminger sold 187,142 shares of the firm’s stock in a transaction dated Friday, February 22nd. The shares were 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 owns 434,166 shares in the company, valued at approximately $28,220,790. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.06% of the company’s stock.

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About Marathon Petroleum

Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Retail, and Midstream. The Refining & Marketing segment refines crude oil and other feed stocks at its 16 refineries in the West Coast, Gulf Coast, and Mid-Continent regions of the United States; and purchases refined products and ethanol for resale.

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

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