4,347 Shares in Marathon Petroleum Corporation $MPC Purchased by HBK Sorce Advisory LLC

Key Points

• HBK Sorce Advisory LLC acquired 4,347 Marathon Petroleum shares worth approximately $1.29 million during the second quarter. Institutional investors collectively own 76.77% of MPC.
• Marathon Petroleum reported quarterly EPS of $17.73, beating estimates of $14.27, while revenue rose 53.5% year over year to $51.99 billion.
• MPC recently declared a quarterly dividend of $1.00 per share, equivalent to $4.00 annually and a 1.1% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $312.50.

HBK Sorce Advisory LLC acquired a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,347 shares of the oil and gas company's stock, valued at approximately $1,294,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB increased its stake in shares of Marathon Petroleum by 3.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,288 shares of the oil and gas company's stock worth $329,000 after purchasing an additional 40 shares in the last quarter. Equitable Trust Co. lifted its stake in shares of Marathon Petroleum by 1.6% during the 1st quarter. Equitable Trust Co. now owns 2,637 shares of the oil and gas company's stock valued at $644,000 after buying an additional 42 shares in the last quarter. Bartlett & CO. Wealth Management LLC boosted its holdings in Marathon Petroleum by 0.4% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 9,548 shares of the oil and gas company's stock worth $2,411,000 after buying an additional 42 shares during the period. Wellington Grp LLC grew its stake in Marathon Petroleum by 9.6% in the 1st quarter. Wellington Grp LLC now owns 516 shares of the oil and gas company's stock valued at $126,000 after buying an additional 45 shares in the last quarter. Finally, Avior Wealth Management LLC grew its stake in Marathon Petroleum by 2.2% in the 2nd quarter. Avior Wealth Management LLC now owns 2,108 shares of the oil and gas company's stock valued at $539,000 after buying an additional 46 shares in the last quarter. 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. The stock has a market cap of $103.82 billion, a P/E ratio of 12.22, a PEG ratio of 0.23 and a beta of 0.52. Marathon Petroleum Corporation has a fifty-two week low of $160.87 and a fifty-two week high of $360.10. The firm's fifty day moving average price is $287.31 and its 200-day moving average price is $248.19. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $14.27 by $3.46. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The company had revenue of $51.99 billion for the quarter, compared to the consensus estimate of $40.87 billion. During the same quarter last year, the business posted $3.96 earnings per share. The firm's revenue was up 53.5% compared to the same quarter last year. Equities research analysts forecast that Marathon Petroleum Corporation will post 46.66 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. Marathon Petroleum's dividend payout ratio (DPR) is presently 13.75%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MPC. Piper Sandler increased their target price on Marathon Petroleum from $343.00 to $344.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Barclays boosted their price objective on Marathon Petroleum from $289.00 to $321.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Wall Street Zen raised Marathon Petroleum from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 10th. Scotiabank lifted their target price on Marathon Petroleum from $174.00 to $210.00 and gave the company a "sector outperform" rating in a report on Wednesday, April 22nd. Finally, TD Cowen upped their price target on Marathon Petroleum from $357.00 to $375.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $312.50.

Insider Activity

In other news, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction dated 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 completion of the sale, the vice president owned 16,900 shares in the company, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.17% of the company's stock.

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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