OneDigital Investment Advisors LLC acquired a new position in Marathon Petroleum Corporation (NYSE:MPC – Free Report) during the second quarter, HoldingsChannel reports. The institutional investor acquired 6,845 shares of the oil and gas company’s stock, valued at approximately $1,750,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Plato Investment Management Ltd purchased a new position in shares of Marathon Petroleum during the second quarter valued at approximately $118,000. Bell Investment Advisors Inc purchased a new stake in shares of Marathon Petroleum in the 2nd quarter worth approximately $27,000. AMG National Trust Bank purchased a new stake in shares of Marathon Petroleum in the 2nd quarter worth approximately $3,984,000. Simplicity Wealth LLC bought a new position in Marathon Petroleum during the 2nd quarter valued at approximately $750,000. Finally, Uniting Wealth Partners LLC purchased a new position in Marathon Petroleum during the second quarter valued at $596,000. Institutional investors own 76.77% of the company’s stock.
Marathon Petroleum Trading Up 0.1%
Marathon Petroleum stock opened at $355.61 on Monday. Marathon Petroleum Corporation has a one year low of $160.87 and a one year high of $360.10. The business’s fifty day moving average is $287.31 and its 200 day moving average is $248.19. The stock has a market capitalization of $103.82 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89.
Marathon Petroleum Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid 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 payout ratio is currently 13.75%.
Insider Buying and Selling at Marathon Petroleum
In other news, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on the company. 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 report on Wednesday, July 22nd. Scotiabank raised their price target on Marathon Petroleum from $174.00 to $210.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 22nd. Barclays lifted their price target on Marathon Petroleum from $289.00 to $321.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Zacks Research downgraded shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 17th. Finally, Mizuho raised their price objective on shares of Marathon Petroleum from $284.00 to $304.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $312.50.
View Our Latest Stock Report on MPC
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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