Pin Oak Investment Advisors Inc. purchased a new position in shares of Marathon Petroleum Corporation (NYSE:MPC – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,839 shares of the oil and gas company’s stock, valued at approximately $470,000.
A number of other hedge funds also recently modified their holdings of MPC. Solstein Capital LLC purchased a new stake in Marathon Petroleum in the second quarter worth $26,000. Caitlin John LLC bought a new stake in shares of Marathon Petroleum in the second quarter valued at $26,000. Bell Investment Advisors Inc purchased a new position in shares of Marathon Petroleum during the 2nd quarter valued at $27,000. Cetera Trust Company N.A bought a new position in shares of Marathon Petroleum during the 2nd quarter worth $35,000. Finally, Frazier Financial Advisors LLC bought a new position in shares of Marathon Petroleum during the 2nd quarter worth $36,000. Institutional investors own 76.77% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the company. Morgan Stanley boosted their price objective on Marathon Petroleum from $233.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. The Goldman Sachs Group lifted their target price on shares of Marathon Petroleum from $291.00 to $376.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. TD Cowen boosted their price target on shares of Marathon Petroleum from $357.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Zacks Research downgraded shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 17th. Finally, Jefferies Financial Group set a $335.00 price objective on shares of Marathon Petroleum and gave the company a “buy” rating in a research note on Sunday, July 12th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $312.50.
Marathon Petroleum Price Performance
Shares of NYSE MPC opened at $369.00 on Friday. The stock’s 50-day simple moving average is $308.87 and its two-hundred day simple moving average is $260.20. Marathon Petroleum Corporation has a twelve month low of $161.93 and a twelve month high of $369.12. The firm has a market capitalization of $107.73 billion, a P/E ratio of 12.68, a P/E/G ratio of 0.24 and a beta of 0.52. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19.
Marathon Petroleum (NYSE:MPC – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $14.27 by $3.46. The firm had revenue of $51.99 billion during the quarter, compared to the consensus estimate of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The company’s revenue for the quarter was up 53.5% on a year-over-year basis. During the same quarter last year, the company posted $3.96 EPS. As a group, equities analysts anticipate that Marathon Petroleum Corporation will post 46.66 EPS for the current fiscal year.
Marathon Petroleum Dividend Announcement
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 currently 13.75%.
Insider Transactions at Marathon Petroleum
In other news, SVP Shawn M. Lyon sold 2,500 shares of the firm’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 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 this link. 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 completion of the transaction, the insider owned 30,334 shares of the company’s stock, valued at $10,876,862.38. This trade represents a 36.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 26,032 shares of company stock valued at $8,744,213 in the last quarter. Insiders own 0.17% of the company’s stock.
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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