Sovran Advisors LLC boosted its holdings in Marathon Petroleum Corporation (NYSE:MPC – Free Report) by 125.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 4,952 shares of the oil and gas company’s stock after purchasing an additional 2,760 shares during the quarter. Sovran Advisors LLC’s holdings in Marathon Petroleum were worth $1,230,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the business. American Trust purchased a new position in shares of Marathon Petroleum in the 1st quarter valued at $254,000. Advisors Management Group Inc. ADV purchased a new stake in Marathon Petroleum during the 1st quarter worth $222,000. Simplicity Wealth LLC acquired a new stake in Marathon Petroleum in the 1st quarter valued at $324,000. Candriam S.C.A. increased its holdings in Marathon Petroleum by 0.5% in the 1st quarter. Candriam S.C.A. now owns 25,166 shares of the oil and gas company’s stock valued at $6,145,000 after purchasing an additional 125 shares in the last quarter. Finally, Cedar Mountain Advisors LLC purchased a new position in Marathon Petroleum in the first quarter valued at about $40,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.
Marathon Petroleum Stock Performance
Shares of MPC stock opened at $283.60 on Monday. The stock has a market capitalization of $82.79 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 0.41 and a beta of 0.52. Marathon Petroleum Corporation has a one year low of $158.00 and a one year high of $287.15. The company’s 50-day simple moving average is $256.82 and its 200-day simple moving average is $222.90. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18.
Marathon Petroleum Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Wednesday, May 20th. Marathon Petroleum’s dividend payout ratio is 26.11%.
Insider Buying and Selling at Marathon Petroleum
In other news, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction dated 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 transaction, the vice president directly owned 16,900 shares in the company, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.17% of the company’s stock.
Wall Street Analysts Forecast Growth
MPC has been the subject of several analyst reports. The Goldman Sachs Group upped their target price on Marathon Petroleum from $264.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Barclays upped their price target on Marathon Petroleum from $230.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Scotiabank lifted their price objective on shares of Marathon Petroleum from $174.00 to $210.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. Citigroup upped their target price on shares of Marathon Petroleum from $243.00 to $257.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Marathon Petroleum from $235.00 to $257.00 in a report on Wednesday, May 6th. Ten analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus target price of $277.31.
Check Out Our Latest Analysis on MPC
Marathon Petroleum Company 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.
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