Diversify Advisory Services LLC Takes $2.11 Million Position in Marathon Petroleum Corporation $MPC

Key Points

• Diversify Advisory Services initiated a $2.11 million position in Marathon Petroleum during the second quarter, purchasing 6,766 shares. Institutional investors collectively own 76.77% of MPC.
• Marathon Petroleum reported quarterly EPS of $17.73, exceeding estimates of $14.27, while revenue rose 53.5% year over year to $51.99 billion.
• MPC declared a quarterly dividend of $1.00 per share, equal to a $4.00 annualized payout and a 1.1% yield. Analysts maintain a “Moderate Buy” consensus, although the average $312.50 price target is below the stock’s reported $366.79 price.

Diversify Advisory Services LLC bought a new position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,766 shares of the oil and gas company's stock, valued at approximately $2,113,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MPC. Oxbow Advisors LLC bought a new position in Marathon Petroleum in the 2nd quarter worth $558,000. Wealthfront Advisers LLC bought a new stake in shares of Marathon Petroleum during the 2nd quarter valued at about $24,957,000. Global Strategic Investment Solutions LLC purchased a new position in shares of Marathon Petroleum during the second quarter valued at about $558,000. Foster & Motley Inc. purchased a new position in shares of Marathon Petroleum during the second quarter valued at about $5,250,000. Finally, Strategic Wealth Advisors LLC bought a new position in Marathon Petroleum in the second quarter worth about $36,000. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Stock Performance

MPC stock opened at $366.79 on Wednesday. The stock has a market capitalization of $107.08 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52. The stock's 50 day simple moving average is $291.36 and its 200 day simple moving average is $250.88. Marathon Petroleum Corporation has a 12-month low of $161.80 and a 12-month high of $367.24. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19.

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 (EPS) for the quarter, beating the consensus estimate of $14.27 by $3.46. The business had revenue of $51.99 billion for the quarter, compared to analysts' expectations of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The business's revenue for the quarter was up 53.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.96 EPS. As a group, research analysts forecast that Marathon Petroleum Corporation will post 46.66 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

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

Insiders Place Their Bets

In other Marathon Petroleum news, SVP Shawn M. Lyon sold 2,500 shares of the firm's 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 sale, the senior vice president owned 12,619 shares in the company, valued at approximately $4,416,650. This trade represents a 16.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum 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 in the company, valued at $4,543,058. This represents a 27.27% decrease in their position. The SEC filing for this sale provides additional information. 0.17% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MPC shares. Barclays increased their target price on Marathon Petroleum from $289.00 to $321.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Evercore set a $330.00 price target on Marathon Petroleum in a research note on Wednesday, August 5th. Raymond James Financial increased their price objective on Marathon Petroleum from $300.00 to $335.00 and gave the stock an "outperform" rating in a report on Monday, July 13th. Piper Sandler raised their price objective on Marathon Petroleum from $343.00 to $344.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Finally, UBS Group restated a "buy" rating and set a $321.00 target price on shares of Marathon Petroleum in a report on Friday, July 10th. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $312.50.

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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