North Star Asset Management Inc. acquired a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC – Free Report) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 1,469 shares of the oil and gas company’s stock, valued at approximately $376,000.
Other large investors also recently added to or reduced their stakes in the company. Solstein Capital LLC bought a new position in Marathon Petroleum during the second quarter valued at about $26,000. Caitlin John LLC bought a new stake in shares of Marathon Petroleum during the 2nd quarter worth about $26,000. Bell Investment Advisors Inc acquired a new position in shares of Marathon Petroleum during the 2nd quarter valued at about $27,000. Navalign LLC acquired a new position in shares of Marathon Petroleum during the 4th quarter valued at about $30,000. Finally, Kohmann Bosshard Financial Services LLC bought a new position in shares of Marathon Petroleum in the 4th quarter valued at approximately $31,000. 76.77% of the stock is owned by institutional investors.
Analyst Ratings Changes
MPC has been the subject of a number of recent analyst reports. Evercore set a $330.00 target price on Marathon Petroleum in a research report on Wednesday, August 5th. Zacks Research cut shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 17th. Mizuho raised their target price 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. Raymond James Financial lifted their target price on shares of Marathon Petroleum from $300.00 to $335.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Finally, Morgan Stanley upped their price target on shares of Marathon Petroleum from $233.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and an average price target of $312.50.
Marathon Petroleum Stock Up 1.5%
Shares of MPC stock opened at $369.00 on Friday. Marathon Petroleum Corporation has a one year low of $161.93 and a one year high of $369.12. 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 stock has a fifty day moving average price of $308.87 and a 200 day moving average price of $260.20. The stock has a market cap of $107.73 billion, a P/E ratio of 12.68, a price-to-earnings-growth ratio of 0.24 and a beta of 0.52.
Marathon Petroleum (NYSE:MPC – Get Free Report) last announced its quarterly earnings data 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 company had revenue of $51.99 billion during the quarter, compared to analysts’ expectations of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The business’s revenue was up 53.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.96 EPS. Analysts predict that Marathon Petroleum Corporation will post 46.66 earnings per share for the current year.
Marathon Petroleum Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio (DPR) is 13.75%.
Insider Buying and Selling at Marathon Petroleum
In other Marathon Petroleum news, insider Molly R. Benson sold 17,196 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $358.57, for a total transaction of $6,165,969.72. Following the sale, the insider directly owned 30,334 shares of the company’s stock, valued at approximately $10,876,862.38. This represents a 36.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael A. Henschen II sold 6,336 shares of the firm’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 completion of the sale, the vice president 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 26,032 shares of company stock worth $8,744,213 over the last ninety days. Corporate 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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