Ausdal Financial Partners Inc. Purchases Shares of 3,499 Marathon Petroleum Corporation $MPC

Key Points

• Ausdal Financial Partners initiated a 3,499-share stake in Marathon Petroleum valued at approximately $894,000. Institutional investors collectively own 76.77% of MPC, with several other funds also increasing their positions.
• Marathon Petroleum reported quarterly EPS of $17.73, exceeding estimates of $14.27, while revenue rose 53.5% year over year to $51.99 billion. Shares opened at $362.70, near their 12-month high of $367.60.
• The company declared a quarterly dividend of $1.00 per share, equivalent to a $4.00 annualized payout and a 1.1% yield. Analysts maintain a generally positive outlook, with 12 Buy ratings, six Holds, and an average price target of $312.50.

Ausdal Financial Partners Inc. bought a new stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,499 shares of the oil and gas company's stock, valued at approximately $894,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in Marathon Petroleum by 30.9% during the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company's stock worth $696,000 after acquiring an additional 1,178 shares during the period. Woodline Partners LP raised its position in shares of Marathon Petroleum by 38.3% in the 1st quarter. Woodline Partners LP now owns 26,697 shares of the oil and gas company's stock worth $3,889,000 after acquiring an additional 7,396 shares in the last quarter. Sivia Capital Partners LLC lifted its stake in shares of Marathon Petroleum by 26.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,221 shares of the oil and gas company's stock valued at $369,000 after purchasing an additional 466 shares during the period. Marshall Wace LLP acquired a new position in shares of Marathon Petroleum in the 2nd quarter valued at about $8,505,000. Finally, AXA S.A. boosted its position 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 valued at $6,590,000 after purchasing an additional 12,639 shares in the last quarter. Institutional investors own 76.77% of the company's stock.

Insider Buying and Selling

In other Marathon Petroleum news, insider Molly R. Benson sold 17,196 shares of the business's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $358.57, for a total transaction of $6,165,969.72. Following the completion of the sale, the insider directly owned 30,334 shares of the company's stock, valued at approximately $10,876,862.38. The trade was a 36.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Shawn M. Lyon sold 2,500 shares of the 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 directly owned 12,619 shares of the company's stock, valued at approximately $4,416,650. This trade represents a 16.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 26,032 shares of company stock worth $8,744,213 in the last quarter. Insiders own 0.17% of the company's stock.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $362.70 on Thursday. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. Marathon Petroleum Corporation has a twelve month low of $161.93 and a twelve month high of $367.60. The stock's 50 day moving average is $303.95 and its 200-day moving average is $258.31. The firm has a market capitalization of $105.89 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 0.23 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its earnings results 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 analysts' expectations of $40.87 billion. During the same period last year, the business earned $3.96 EPS. Marathon Petroleum's quarterly revenue was up 53.5% compared to the same quarter last year. Sell-side analysts forecast that Marathon Petroleum Corporation will post 46.66 EPS for the current fiscal 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 given a dividend of $1.00 per share. 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 payout ratio is presently 13.75%.

Analyst Upgrades and Downgrades

MPC has been the subject of a number of research analyst reports. Barclays lifted their target price on Marathon Petroleum from $289.00 to $321.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. The Goldman Sachs Group increased their price target on Marathon Petroleum from $291.00 to $376.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. raised their price objective on shares of Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. Weiss Ratings upgraded shares of Marathon Petroleum from a "hold (c+)" rating to a "buy (b)" rating in a research note on Wednesday, August 5th. Finally, Jefferies Financial Group set a $335.00 target price on shares of Marathon Petroleum and gave the company a "buy" rating in a research report on Sunday, July 12th. Twelve equities research 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, Marathon Petroleum presently has an average rating of "Moderate Buy" and an average target price 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.

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