Beverly Hills Private Wealth LLC Makes New $1.31 Million Investment in Marathon Petroleum Corporation $MPC

Key Points

• Beverly Hills Private Wealth LLC purchased 5,107 Marathon Petroleum shares worth approximately $1.31 million during the second quarter, while institutional investors collectively own 76.77% of the company.
• Analyst sentiment remains positive: Marathon Petroleum has a consensus “Moderate Buy” rating and a $312.50 price target, with TD Cowen recently raising its target to $375.
• 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 also declared a quarterly dividend of $1.00 per share.

Beverly Hills Private Wealth LLC purchased 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 purchased 5,107 shares of the oil and gas company's stock, valued at approximately $1,306,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bell Investment Advisors Inc purchased a new position in shares of Marathon Petroleum during the 2nd quarter worth $27,000. Navalign LLC acquired a new stake in shares of Marathon Petroleum in the fourth quarter worth $30,000. Kohmann Bosshard Financial Services LLC purchased a new position in Marathon Petroleum in the fourth quarter valued at about $31,000. Berbice Capital Management LLC lifted its position in Marathon Petroleum by 100.0% during the 4th quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company's stock worth $33,000 after acquiring an additional 100 shares in the last quarter. Finally, WFA of San Diego LLC acquired a new position in shares of Marathon Petroleum during the second quarter worth $33,000. Hedge funds and other institutional investors own 76.77% of the company's stock.

Insiders Place Their Bets

In other news, VP Michael A. Henschen II sold 6,336 shares of the firm's stock in a transaction dated 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 completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.17% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MPC. TD Cowen lifted their price target on shares of Marathon Petroleum from $357.00 to $375.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Weiss Ratings upgraded Marathon Petroleum from a "hold (c+)" rating to a "buy (b)" rating in a research note on Wednesday, August 5th. Evercore set a $330.00 price objective on Marathon Petroleum in a research report on Wednesday, August 5th. Scotiabank upped their price objective on shares of Marathon Petroleum from $174.00 to $210.00 and gave the stock a "sector outperform" rating in a report on Wednesday, April 22nd. Finally, Wall Street Zen raised shares of Marathon Petroleum from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 10th. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Marathon Petroleum presently has a consensus rating of "Moderate Buy" and a consensus price target of $312.50.

Marathon Petroleum Stock Up 0.1%

Shares of MPC stock opened at $355.61 on Monday. Marathon Petroleum Corporation has a 1 year low of $160.87 and a 1 year high of $360.10. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25. The business's fifty day moving average is $287.31 and its 200-day moving average is $248.19. The stock has a market cap of $103.82 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, beating 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 business had revenue of $51.99 billion during the quarter, compared to analyst estimates of $40.87 billion. During the same quarter in the prior year, the firm posted $3.96 earnings per share. The company's revenue was up 53.5% on a year-over-year basis. Equities analysts expect that Marathon Petroleum Corporation will post 46.66 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

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 given a $1.00 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $4.00 annualized dividend and a yield of 1.1%. Marathon Petroleum's payout ratio is 13.75%.

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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