Global Strategic Investment Solutions LLC purchased a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC – Free Report) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 2,184 shares of the oil and gas company’s stock, valued at approximately $558,000.
Several other large investors have also bought and sold shares of MPC. Pictet Asset Management Holding SA increased its stake in Marathon Petroleum by 31.0% during the 1st quarter. Pictet Asset Management Holding SA now owns 213,545 shares of the oil and gas company’s stock valued at $52,146,000 after purchasing an additional 50,521 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Marathon Petroleum by 570.7% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 168,644 shares of the oil and gas company’s stock valued at $41,180,000 after buying an additional 143,500 shares during the last quarter. North Dakota State Investment Board bought a new stake in shares of Marathon Petroleum during the fourth quarter worth about $1,714,000. ABC Arbitrage SA bought a new position in Marathon Petroleum in the 4th quarter valued at about $4,977,000. Finally, Shepherd Street Advisors LLC acquired a new position in Marathon Petroleum during the 4th quarter valued at about $878,000. 76.77% of the stock is owned by institutional investors.
Insider Activity at Marathon Petroleum
In other Marathon Petroleum news, SVP Shawn M. Lyon sold 2,500 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $4,416,650. This trade represents a 16.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the completion of the sale, the vice president directly owned 16,900 shares of the company’s stock, valued at $4,543,058. The trade was a 27.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.17% of the company’s stock.
Marathon Petroleum Stock Performance
Marathon Petroleum (NYSE:MPC – Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, topping the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The company had revenue of $51.99 billion for the quarter, compared to analysts’ expectations of $40.87 billion. During the same period in the prior year, the business earned $3.96 earnings per share. Marathon Petroleum’s revenue for the quarter was up 53.5% compared to the same quarter last year. As a group, analysts expect that Marathon Petroleum Corporation will post 46.66 earnings per share for the current fiscal year.
Marathon Petroleum Announces Dividend
The business also recently declared 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. This represents a $4.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 19th. Marathon Petroleum’s payout ratio is 13.75%.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on MPC. Mizuho raised their target price on Marathon Petroleum from $284.00 to $304.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Scotiabank increased their price target on Marathon Petroleum from $174.00 to $210.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 22nd. Wells Fargo & Company lifted their price objective on shares of Marathon Petroleum from $344.00 to $359.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. UBS Group reiterated a “buy” rating and issued a $321.00 target price on shares of Marathon Petroleum in a research note on Friday, July 10th. Finally, JPMorgan Chase & Co. increased their target price on shares of Marathon Petroleum from $235.00 to $257.00 in a report on Wednesday, May 6th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $312.50.
Read Our Latest Research Report on Marathon Petroleum
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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