Csenge Advisory Group Purchases New Stake in Marathon Petroleum Corporation $MPC

Key Points

• Csenge Advisory Group acquired 21,824 Marathon Petroleum shares worth approximately $5.58 million during the second quarter. Institutional investors collectively own 76.77% of MPC.
• Marathon Petroleum reported quarterly EPS of $17.73, beating estimates by $3.46, while revenue rose 53.5% year over year to $51.99 billion. Shares opened at $361.02, near the company’s $367.24 52-week high.
• The company declared a quarterly dividend of $1.00 per share, equivalent to $4.00 annually and a 1.1% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $312.50, while two company executives recently sold shares.

Csenge Advisory Group acquired a new position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 21,824 shares of the oil and gas company's stock, valued at approximately $5,580,000.

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

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $361.02 on Thursday. 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 market cap of $105.40 billion, a P/E ratio of 12.41, a P/E/G ratio of 0.24 and a beta of 0.52. The firm's 50 day moving average price is $293.31 and its 200-day moving average price is $252.19. Marathon Petroleum Corporation has a one year low of $161.93 and a one year high of $367.24.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its earnings results 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 net margin of 5.48% and a return on equity of 31.96%. The firm had revenue of $51.99 billion during the quarter, compared to the consensus estimate of $40.87 billion. During the same quarter last year, the firm earned $3.96 EPS. The firm's revenue for the quarter was up 53.5% on a year-over-year basis. As a group, equities research analysts predict that Marathon Petroleum Corporation will post 46.66 EPS for the current year.

Marathon Petroleum Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MPC shares. Morgan Stanley increased their price target on shares of Marathon Petroleum from $233.00 to $265.00 and gave the company an "overweight" rating in a research note on Friday, June 12th. BMO Capital Markets reiterated an "outperform" rating on shares of Marathon Petroleum in a report on Friday, June 12th. JPMorgan Chase & Co. increased their price objective on Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. Piper Sandler raised their target price on Marathon Petroleum from $343.00 to $344.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Finally, Mizuho lifted their target price on Marathon Petroleum from $284.00 to $304.00 and gave the company a "neutral" rating in a research report on Tuesday, August 11th. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, Marathon Petroleum has an average rating of "Moderate Buy" and an average target price of $312.50.

Insider Buying and Selling at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of the business's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the sale, the vice president owned 16,900 shares in the company, valued at approximately $4,543,058. The trade was a 27.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Shawn M. Lyon sold 2,500 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $350.00, for a total value of $875,000.00. Following the transaction, the senior vice president directly owned 12,619 shares in the company, valued at approximately $4,416,650. The trade was a 16.54% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.17% of the stock is currently owned by insiders.

Marathon Petroleum Company 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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