Beacon Pointe Advisors LLC Acquires New Shares in Marathon Petroleum Corporation $MPC

Beacon Pointe Advisors LLC bought a new position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 27,027 shares of the oil and gas company's stock, valued at approximately $6,910,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in shares of Marathon Petroleum by 30.9% during the fourth quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company's stock worth $696,000 after buying an additional 1,178 shares during the last quarter. Woodline Partners LP lifted its stake 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 valued at $3,889,000 after acquiring an additional 7,396 shares during 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 acquiring an additional 466 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Marathon Petroleum during the 2nd quarter valued at $8,505,000. Finally, AXA S.A. boosted its holdings 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 acquiring an additional 12,639 shares in the last quarter. Institutional investors own 76.77% of the company's stock.

Marathon Petroleum Trading Up 1.5%

NYSE MPC opened at $369.00 on Friday. The business has a 50 day simple moving average of $308.87 and a 200 day simple moving average of $260.20. Marathon Petroleum Corporation has a one year low of $161.93 and a one year high of $369.12. The stock has a market capitalization of $107.73 billion, a P/E ratio of 12.68, a P/E/G ratio of 0.24 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.

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 (EPS) for the quarter, beating the consensus estimate of $14.27 by $3.46. The firm had revenue of $51.99 billion for the quarter, compared to analyst estimates of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The company's revenue was up 53.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.96 earnings per share. Research analysts expect 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 paid 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 yield of 1.1%. Marathon Petroleum's dividend payout ratio is currently 13.75%.

Insider Buying and Selling

In other Marathon Petroleum news, insider Molly R. Benson sold 17,196 shares of the firm's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $358.57, for a total value of $6,165,969.72. Following the completion of the sale, the insider directly owned 30,334 shares in the company, valued at approximately $10,876,862.38. This trade represents a 36.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Shawn M. Lyon sold 2,500 shares of Marathon Petroleum stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $350.00, for a total transaction 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 26,032 shares of company stock valued at $8,744,213 over the last ninety days. 0.17% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on MPC shares. Piper Sandler upped their target price on Marathon Petroleum from $343.00 to $344.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Barclays boosted their price target on Marathon Petroleum from $289.00 to $321.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. UBS Group reaffirmed a "buy" rating and issued a $321.00 price objective on shares of Marathon Petroleum in a research note on Friday, July 10th. Raymond James Financial raised their price objective on shares of Marathon Petroleum from $300.00 to $335.00 and gave the company an "outperform" rating in a report on Monday, July 13th. Finally, Jefferies Financial Group set a $335.00 target price on shares of Marathon Petroleum and gave the stock a "buy" rating in a research report on Sunday, July 12th. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $312.50.

Marathon Petroleum 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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