SCS Capital Management LLC bought a new stake in Marathon Petroleum Corporation (NYSE:MPC – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 4,515 shares of the oil and gas company’s stock, valued at approximately $1,154,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MPC. Brighton Jones LLC raised its holdings in Marathon Petroleum by 30.9% during the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock worth $696,000 after purchasing an additional 1,178 shares during the last quarter. Woodline Partners LP boosted its stake in shares of Marathon Petroleum by 38.3% in the 1st quarter. Woodline Partners LP now owns 26,697 shares of the oil and gas company’s stock valued at $3,889,000 after purchasing an additional 7,396 shares during the last quarter. Sivia Capital Partners LLC grew its position in shares of Marathon Petroleum by 26.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,221 shares of the oil and gas company’s stock worth $369,000 after buying an additional 466 shares during the period. Marshall Wace LLP acquired a new stake in shares of Marathon Petroleum during the 2nd quarter worth approximately $8,505,000. Finally, AXA S.A. raised its stake in shares of Marathon Petroleum by 46.7% during the second quarter. AXA S.A. now owns 39,675 shares of the oil and gas company’s stock worth $6,590,000 after buying an additional 12,639 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.
Marathon Petroleum Price Performance
Shares of NYSE MPC opened at $355.61 on Monday. The company has a fifty day moving average price of $287.31 and a 200 day moving average price of $248.19. The firm has a market cap of $103.82 billion, a PE ratio of 12.22, a PEG 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 Corporation has a 1-year low of $160.87 and a 1-year high of $360.10.
Marathon Petroleum Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a $1.00 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.1%. Marathon Petroleum’s dividend payout ratio (DPR) is 13.75%.
Insider Activity
In other news, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction on 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 sale, the vice president owned 16,900 shares of the company’s stock, valued at $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.17% of the stock is owned by company insiders.
Analysts Set New Price Targets
Several research analysts have recently issued reports on MPC shares. UBS Group restated a “buy” rating and issued a $321.00 price target on shares of Marathon Petroleum in a research report on Friday, July 10th. The Goldman Sachs Group boosted their target price on Marathon Petroleum from $291.00 to $376.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Piper Sandler upped their target price on shares of Marathon Petroleum from $343.00 to $344.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. TD Cowen lifted their price target on shares of Marathon Petroleum from $357.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Finally, Jefferies Financial Group set a $335.00 price objective on Marathon Petroleum and gave the company a “buy” rating in a research report on Sunday, July 12th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and a consensus price target of $312.50.
Check Out Our Latest 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.
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