Asset One Wealth Management LLC Buys New Shares in Marathon Petroleum Corporation $MPC

Key Points

• Asset One Wealth Management acquired 7,778 Marathon Petroleum shares worth approximately $2.3 million during the second quarter. Institutional investors collectively own 76.77% of MPC.
• Marathon Petroleum reported quarterly EPS of $17.73, exceeding estimates by $3.46, while revenue rose 53.5% year over year to $51.99 billion.
• The company declared a quarterly dividend of $1.00, equal to $4.00 annually and a 1.1% yield. Analysts maintain a “Moderate Buy” consensus, though MPC recently traded near its 52-week high.

Asset One Wealth Management LLC acquired a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,778 shares of the oil and gas company's stock, valued at approximately $2,327,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Infrastructure Capital Advisors LLC acquired a new position in shares of Marathon Petroleum during the second quarter valued at about $3,128,000. Cibc World Market Inc. acquired a new position in Marathon Petroleum during the 2nd quarter valued at about $46,875,000. OMERS ADMINISTRATION Corp acquired a new position in Marathon Petroleum during the 2nd quarter valued at about $8,291,000. Osmosis Investment Management UK Ltd bought a new stake in Marathon Petroleum during the 2nd quarter worth approximately $1,179,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Marathon Petroleum in the second quarter worth approximately $23,456,000. Institutional investors own 76.77% of the company's stock.

Insiders Place Their Bets

In other news, SVP Shawn M. Lyon sold 2,500 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $350.00, for a total value 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. This trade represents a 16.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael A. Henschen II sold 6,336 shares of the company'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 transaction of $1,703,243.52. Following the sale, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. This trade represents a 27.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.17% of the company's stock.

Marathon Petroleum Stock Up 0.4%

MPC stock opened at $362.18 on Monday. The stock has a fifty day moving average of $297.25 and a 200-day moving average of $254.78. Marathon Petroleum Corporation has a fifty-two week low of $161.93 and a fifty-two week high of $367.60. The company has a market capitalization of $105.73 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 0.23 and a beta of 0.52. 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 released its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, beating the consensus estimate of $14.27 by $3.46. The business had revenue of $51.99 billion for the quarter, compared to the consensus estimate of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The company's revenue was up 53.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.96 earnings per share. As a group, equities research 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 declared 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. 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 payout ratio is 13.75%.

Analyst Ratings Changes

Several brokerages recently issued reports on MPC. The Goldman Sachs Group lifted their target price on Marathon Petroleum from $291.00 to $376.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd. Evercore set a $330.00 price objective on shares of Marathon Petroleum in a report on Wednesday, August 5th. Piper Sandler upped their target price on shares of Marathon Petroleum from $343.00 to $344.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Bank of America increased their target price on shares of Marathon Petroleum from $224.00 to $260.00 in a report on Tuesday, May 26th. Finally, Wells Fargo & Company raised their price target on shares of Marathon Petroleum from $344.00 to $359.00 and gave the company an "overweight" rating in a research report on Wednesday, August 5th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $312.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source