Tocqueville Asset Management L.P. acquired a new position in shares of Marathon Petroleum Corporation (NYSE:MPC – Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 43,329 shares of the oil and gas company’s stock, valued at approximately $11,078,000.
Several other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Marathon Petroleum during the 2nd quarter worth approximately $6,648,958,000. State Street Corp raised its holdings in shares of Marathon Petroleum by 0.3% in 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 purchasing an additional 47,896 shares during the last quarter. Boston Partners lifted its position in shares of Marathon Petroleum by 2.3% in 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 in the last quarter. Bank of New York Mellon Corp acquired a new position in Marathon Petroleum during the second quarter worth $1,029,611,000. Finally, Norges Bank acquired a new position in Marathon Petroleum during the fourth quarter worth $472,312,000. Institutional investors own 76.77% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. Scotiabank raised their price objective on Marathon Petroleum from $174.00 to $210.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 22nd. Mizuho lifted their target price on Marathon Petroleum from $284.00 to $304.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Citigroup upped their target price on Marathon Petroleum from $303.00 to $318.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Finally, Zacks Research cut Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 17th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $312.50.
Insider Buying and Selling
In other news, SVP Shawn M. Lyon sold 2,500 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $350.00, for a total transaction of $875,000.00. Following the completion of the transaction, the senior vice president directly 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 legal filing with the SEC, which can be accessed through this link. Also, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.17% of the company’s stock.
Marathon Petroleum Stock Down 1.4%
Marathon Petroleum stock opened at $361.02 on Thursday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89. The company’s 50-day moving average is $293.31 and its 200-day moving average is $252.19. The firm has a market capitalization of $105.40 billion, a PE ratio of 12.41, a P/E/G ratio of 0.24 and a beta of 0.52. Marathon Petroleum Corporation has a fifty-two week low of $161.93 and a fifty-two week high of $367.24.
Marathon Petroleum (NYSE:MPC – Get Free Report) last issued its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, beating 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 business had revenue of $51.99 billion during the quarter, compared to the consensus estimate of $40.87 billion. During the same period last year, the business posted $3.96 EPS. Marathon Petroleum’s revenue was up 53.5% on a year-over-year basis. Sell-side analysts anticipate that Marathon Petroleum Corporation will post 46.66 earnings per share for the current year.
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 given a $1.00 dividend. 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 (DPR) is presently 13.75%.
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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