Concurrent Investment Advisors LLC Grows Holdings in Marathon Petroleum Corporation $MPC

Key Points

• Concurrent Investment Advisors increased its Marathon Petroleum stake by 5.6% in the second quarter, bringing its holdings to 84,153 shares valued at approximately $21.5 million. Institutional investors and hedge funds collectively own 76.77% of MPC.
• Marathon Petroleum insiders sold 21,691 shares worth about $7.78 million over the past 90 days, including sizable sales by Vice President Erin Brzezinski and insider Molly Benson.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $322.44, while MPC recently beat quarterly earnings estimates and announced a $1.00-per-share dividend, equivalent to a 1.0% annual yield.

Concurrent Investment Advisors LLC boosted its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 5.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 84,153 shares of the oil and gas company's stock after purchasing an additional 4,459 shares during the period. Concurrent Investment Advisors LLC's holdings in Marathon Petroleum were worth $21,515,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Marathon Petroleum by 3.2% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,288 shares of the oil and gas company's stock worth $329,000 after buying an additional 40 shares during the last quarter. Equitable Trust Co. raised its stake in Marathon Petroleum by 1.6% during the 1st quarter. Equitable Trust Co. now owns 2,637 shares of the oil and gas company's stock valued at $644,000 after acquiring an additional 42 shares during the last quarter. Bartlett & CO. Wealth Management LLC lifted its position in Marathon Petroleum by 0.4% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 9,548 shares of the oil and gas company's stock worth $2,411,000 after acquiring an additional 42 shares during the period. High Net Worth Advisory Group LLC grew its stake in shares of Marathon Petroleum by 2.6% in the 2nd quarter. High Net Worth Advisory Group LLC now owns 1,636 shares of the oil and gas company's stock valued at $418,000 after purchasing an additional 42 shares during the last quarter. Finally, Wellington Grp LLC grew its stake in shares of Marathon Petroleum by 9.6% in the 1st quarter. Wellington Grp LLC now owns 516 shares of the oil and gas company's stock valued at $126,000 after purchasing an additional 45 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Erin M. Brzezinski sold 570 shares of Marathon Petroleum stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total transaction of $206,790.30. Following the completion of the transaction, the vice president owned 1,576 shares of the company's stock, valued at $571,757.04. The trade was a 26.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Molly R. Benson sold 17,196 shares of the business's stock in a transaction dated 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 owned 30,334 shares in the company, valued at $10,876,862.38. This represents a 36.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 21,691 shares of company stock worth $7,780,127. 0.17% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Wells Fargo & Company upped their price target on Marathon Petroleum from $359.00 to $400.00 and gave the stock an "overweight" rating in a research note on Tuesday. Zacks Research lowered shares of Marathon Petroleum from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 17th. The Goldman Sachs Group boosted their price objective on shares of Marathon Petroleum from $291.00 to $376.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. Weiss Ratings upgraded shares of Marathon Petroleum from a "hold (c+)" rating to a "buy (b)" rating in a research report on Wednesday, August 5th. Finally, Mizuho raised their target price on shares of Marathon Petroleum from $284.00 to $304.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 11th. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $322.44.

Marathon Petroleum Trading Up 0.2%

Shares of MPC opened at $387.66 on Friday. Marathon Petroleum Corporation has a twelve month low of $161.93 and a twelve month high of $398.52. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $113.17 billion, a P/E ratio of 13.33, a PEG ratio of 0.25 and a beta of 0.53. The firm's 50-day moving average is $319.58 and its two-hundred day moving average is $265.65.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $14.27 by $3.46. The company had revenue of $51.99 billion during 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 for the quarter was up 53.5% on a year-over-year basis. During the same period last year, the firm earned $3.96 EPS. On average, research analysts predict that Marathon Petroleum Corporation will post 46.66 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company 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 yield of 1.0%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum's payout ratio is presently 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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