Citizens Financial Group Inc. RI Acquires Shares of 6,394 Marathon Petroleum Corporation $MPC

Key Points

• Citizens Financial Group acquired 6,394 Marathon Petroleum shares worth approximately $1.64 million in the second quarter. Institutional investors collectively own 76.77% of MPC.
• Analysts maintain a generally positive outlook, with 12 Buy ratings and six Holds; the stock has an average “Moderate Buy” rating and a consensus price target of $312.50.
• 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 $1.00 quarterly dividend, equivalent to a 1.1% yield.

Citizens Financial Group Inc. RI acquired a new stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,394 shares of the oil and gas company's stock, valued at approximately $1,635,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MPC. Bell Investment Advisors Inc bought a new stake in Marathon Petroleum in the 2nd quarter valued at $27,000. Main Street Group LTD bought a new position in Marathon Petroleum during the first quarter worth $35,000. Cedar Mountain Advisors LLC bought a new position in Marathon Petroleum during the first quarter worth $40,000. Navalign LLC acquired a new position in shares of Marathon Petroleum in the fourth quarter valued at $30,000. Finally, Kohmann Bosshard Financial Services LLC bought a new position in shares of Marathon Petroleum in the fourth quarter valued at about $31,000. 76.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MPC has been the subject of a number of research reports. Piper Sandler raised 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. BMO Capital Markets reiterated an "outperform" rating on shares of Marathon Petroleum in a research note on Friday, June 12th. Zacks Research cut shares of Marathon Petroleum from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 17th. Citigroup boosted their price objective on Marathon Petroleum from $303.00 to $318.00 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. Finally, The Goldman Sachs Group upped 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. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Marathon Petroleum currently has an average rating of "Moderate Buy" and an average price target of $312.50.

Marathon Petroleum Trading Up 2.4%

Shares of Marathon Petroleum stock opened at $366.79 on Wednesday. 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 firm has a 50-day moving average of $291.36 and a 200-day moving average of $250.88. Marathon Petroleum Corporation has a 52-week low of $161.80 and a 52-week high of $367.24. The stock has a market cap of $107.08 billion, a PE ratio of 12.61, a PEG ratio of 0.23 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, topping analysts' consensus estimates of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The business had revenue of $51.99 billion for the quarter, compared to analyst estimates of $40.87 billion. During the same period last year, the firm earned $3.96 earnings per share. Marathon Petroleum's revenue for the quarter was up 53.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Marathon Petroleum Corporation will post 46.66 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum's dividend payout ratio is presently 13.75%.

Insider Activity at Marathon Petroleum

In other news, VP Michael A. Henschen II sold 6,336 shares of the firm's stock in a transaction that occurred 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 approximately $4,543,058. This trade represents a 27.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Shawn M. Lyon sold 2,500 shares of Marathon Petroleum stock in a transaction that occurred 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 owned 12,619 shares of the company's stock, valued at approximately $4,416,650. The trade was a 16.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.17% of the stock is currently owned by company insiders.

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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