Allworth Financial LP Makes New $4.55 Million Investment in Marathon Petroleum Corporation $MPC

Allworth Financial LP purchased a new position in 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 fund purchased 17,795 shares of the oil and gas company's stock, valued at approximately $4,550,000.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC lifted its holdings in shares of Marathon Petroleum by 30.9% in the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company's stock valued at $696,000 after buying an additional 1,178 shares during the period. Woodline Partners LP lifted its holdings in Marathon Petroleum by 38.3% in the first quarter. Woodline Partners LP now owns 26,697 shares of the oil and gas company's stock valued at $3,889,000 after acquiring an additional 7,396 shares during the period. Sivia Capital Partners LLC lifted its holdings in Marathon Petroleum by 26.6% in the second quarter. Sivia Capital Partners LLC now owns 2,221 shares of the oil and gas company's stock valued at $369,000 after acquiring an additional 466 shares during the period. Marshall Wace LLP purchased a new stake in Marathon Petroleum in the 2nd quarter worth approximately $8,505,000. Finally, AXA S.A. grew its stake in shares of Marathon Petroleum by 46.7% during the 2nd quarter. AXA S.A. now owns 39,675 shares of the oil and gas company's stock worth $6,590,000 after purchasing an additional 12,639 shares during the period. 76.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MPC has been the subject of several recent analyst reports. Wells Fargo & Company lifted their price target on Marathon Petroleum from $344.00 to $359.00 and gave the company an "overweight" rating in a research note on Wednesday, August 5th. Barclays increased 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. The Goldman Sachs Group boosted their price objective on Marathon Petroleum from $291.00 to $376.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd. Raymond James Financial upped their target price on Marathon Petroleum from $300.00 to $335.00 and gave the stock an "outperform" rating in a research note on Monday, July 13th. Finally, Morgan Stanley increased their target price on Marathon Petroleum from $233.00 to $265.00 and gave the company an "overweight" rating in a research report on Friday, June 12th. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $312.50.

Insider Transactions at Marathon Petroleum

In other news, VP Michael A. Henschen II sold 6,336 shares of the company's stock in a transaction 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 transaction, the vice president directly owned 16,900 shares of the company's stock, valued at $4,543,058. This represents a 27.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Shawn M. Lyon sold 2,500 shares of the company's stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $350.00, for a total value of $875,000.00. Following the completion of the sale, the senior vice president owned 12,619 shares in the company, valued at approximately $4,416,650. This represents a 16.54% decrease in their position. 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 Performance

Shares of Marathon Petroleum stock opened at $358.71 on Friday. The stock has a market capitalization of $104.72 billion, a price-to-earnings ratio of 12.33, 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. The business has a 50-day moving average of $295.27 and a 200 day moving average of $253.47. Marathon Petroleum Corporation has a 12 month low of $161.93 and a 12 month high of $367.60.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, topping the consensus estimate 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 in the prior year, the business earned $3.96 EPS. Marathon Petroleum's revenue was up 53.5% on a year-over-year basis. As a group, 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. Stockholders of record on Wednesday, August 19th will be paid a dividend of $1.00 per share. The ex-dividend date is Wednesday, August 19th. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. Marathon Petroleum's dividend payout ratio is 13.75%.

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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