Proficio Capital Partners LLC acquired a new position in Marathon Petroleum Corporation (NYSE:MPC – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,860 shares of the oil and gas company’s stock, valued at approximately $476,000.
Several other large investors have also added to or reduced their stakes in the business. Solstein Capital LLC bought a new stake in Marathon Petroleum during the 2nd quarter worth about $26,000. Bell Investment Advisors Inc bought a new position in shares of Marathon Petroleum in the 2nd quarter valued at about $27,000. Cetera Trust Company N.A bought a new position in shares of Marathon Petroleum in the 2nd quarter valued at about $35,000. Frazier Financial Advisors LLC acquired a new stake in shares of Marathon Petroleum in the second quarter valued at about $36,000. Finally, Main Street Group LTD acquired a new stake in shares of Marathon Petroleum in the first quarter valued at about $35,000. Institutional investors and hedge funds own 76.77% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts recently commented on MPC shares. JPMorgan Chase & Co. increased their price target on Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. Jefferies Financial Group set a $335.00 price target on Marathon Petroleum and gave the stock a “buy” rating in a research report on Sunday, July 12th. Evercore set a $330.00 price objective on Marathon Petroleum in a research note on Wednesday, August 5th. Morgan Stanley increased their price objective on Marathon Petroleum from $233.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Finally, Barclays raised their target price on shares of Marathon Petroleum from $289.00 to $321.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Twelve 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $312.50.
Marathon Petroleum Trading Up 0.3%
Shares of NYSE:MPC opened at $363.23 on Friday. Marathon Petroleum Corporation has a 52-week low of $161.93 and a 52-week high of $367.60. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25. The company has a market capitalization of $106.04 billion, a P/E ratio of 12.49, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52. The company has a 50-day simple moving average of $306.35 and a 200 day simple moving average of $259.44.
Marathon Petroleum (NYSE:MPC – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, topping analysts’ consensus estimates of $14.27 by $3.46. The firm had revenue of $51.99 billion for 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 business’s revenue was up 53.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.96 earnings per share. Sell-side analysts forecast that Marathon Petroleum Corporation will post 46.66 earnings per share for the current year.
Marathon Petroleum Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend 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 presently 13.75%.
Insider Activity at Marathon Petroleum
In related news, insider Molly R. Benson sold 17,196 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $358.57, for a total value of $6,165,969.72. Following the sale, the insider owned 30,334 shares in the company, valued at approximately $10,876,862.38. This represents a 36.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the transaction, the vice president directly owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 26,032 shares of company stock worth $8,744,213. Company insiders own 0.17% of the company’s stock.
Marathon Petroleum 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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