Osmosis Investment Management UK Ltd bought a new position in Marathon Petroleum Corporation (NYSE:MPC – Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 4,610 shares of the oil and gas company’s stock, valued at approximately $1,179,000.
A number of other hedge funds have also recently made changes to their positions in MPC. BlackRock Inc. bought a new stake in Marathon Petroleum during the 2nd quarter worth approximately $6,648,958,000. State Street Corp raised its stake in shares of Marathon Petroleum by 0.3% during the fourth quarter. State Street Corp now owns 17,934,327 shares of the oil and gas company’s stock valued at $2,916,660,000 after acquiring an additional 47,896 shares during the last quarter. Boston Partners lifted its holdings in shares of Marathon Petroleum by 2.3% during the third quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company’s stock worth $1,214,522,000 after purchasing an additional 141,691 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Marathon Petroleum in the second quarter worth $1,029,611,000. Finally, Norges Bank bought a new stake in shares of Marathon Petroleum in the fourth quarter worth $472,312,000. 76.77% of the stock is owned by institutional investors and hedge funds.
Marathon Petroleum Trading Up 0.4%
MPC opened at $362.34 on Tuesday. The company has a fifty day moving average price of $299.48 and a two-hundred day moving average price of $256.01. Marathon Petroleum Corporation has a 1-year low of $161.93 and a 1-year high of $367.60. The company has a market cap of $105.78 billion, a P/E ratio of 12.46, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52. 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 Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio is presently 13.75%.
Insider Buying and Selling
In other Marathon Petroleum news, SVP Shawn M. Lyon sold 2,500 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $350.00, for a total transaction 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. The trade was a 16.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Molly R. Benson sold 17,196 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $358.57, for a total transaction of $6,165,969.72. Following the transaction, the insider owned 30,334 shares in the company, valued at approximately $10,876,862.38. The trade was a 36.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 26,032 shares of company stock worth $8,744,213 in the last ninety days. Corporate insiders own 0.17% of the company’s stock.
Analyst Ratings Changes
Several research analysts recently issued reports on the company. Morgan Stanley raised their target price on Marathon Petroleum from $233.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Barclays upped their price target on Marathon Petroleum from $289.00 to $321.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Piper Sandler raised their price objective on Marathon Petroleum from $343.00 to $344.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Bank of America lifted their price objective on Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. Finally, Mizuho upped 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. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and a consensus target price of $312.50.
View Our Latest Research Report on Marathon Petroleum
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.
Featured Articles
- Five stocks we like better than Marathon Petroleum
- Visa Just Put Hims & Hers in the Penalty Box—Here’s Why It Matters
- Treasury Yields Are Surging Again: 3 Stocks That Could Feel the Pain
- Snowflake Could Be Headed for New Highs Despite Insider Selling
- MongoDB Is Surging—And the Next Catalyst Is Almost Here
Receive News & Ratings for Marathon Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.
