Energy Income Partners LLC Buys Shares of 19,213 Marathon Petroleum Corporation $MPC

Key Points

• Energy Income Partners purchased 19,213 Marathon Petroleum shares during the second quarter, valued at approximately $4.9 million. Institutional investors collectively own 76.77% of MPC.
• Marathon Petroleum reported strong quarterly results, with EPS of $17.73 versus the $14.27 consensus estimate and revenue of $51.99 billion, up 53.5% year over year.
• MPC shares opened at $366.79, near their 52-week high, while the company declared a quarterly dividend of $1.00 per share. Analysts maintain a “Moderate Buy” consensus, though the average price target of $312.50 is below the current share price.

Energy Income Partners LLC bought a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 19,213 shares of the oil and gas company's stock, valued at approximately $4,912,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of MPC. Bell Investment Advisors Inc purchased a new position in Marathon Petroleum during the 2nd quarter valued at $27,000. Navalign LLC purchased a new stake in Marathon Petroleum in the fourth quarter worth $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Marathon Petroleum during the fourth quarter worth $31,000. Berbice Capital Management LLC lifted its position in shares of 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 last quarter. Finally, WFA of San Diego LLC purchased a new stake in shares of Marathon Petroleum during the second quarter valued at $33,000. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Price Performance

Shares of MPC stock opened at $366.79 on Wednesday. Marathon Petroleum Corporation has a fifty-two week low of $161.80 and a fifty-two week high of $367.24. 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 capitalization of $107.08 billion, a price-to-earnings ratio of 12.61, a PEG 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 (NYSE:MPC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, beating the consensus estimate of $14.27 by $3.46. The firm had revenue of $51.99 billion during the quarter, compared to analyst estimates of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. Marathon Petroleum's revenue was up 53.5% on a year-over-year basis. During the same period last year, the firm posted $3.96 EPS. As a group, equities analysts forecast that Marathon Petroleum Corporation will post 46.66 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

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 dividend of $1.00 per share. 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 payout ratio is presently 13.75%.

Insider Buying and Selling at Marathon Petroleum

In other news, SVP Shawn M. Lyon sold 2,500 shares of the business's stock in a transaction 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 directly owned 12,619 shares of the company's stock, valued at $4,416,650. The trade was a 16.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael A. Henschen II sold 6,336 shares of the company's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total value of $1,703,243.52. Following the completion of the transaction, the vice president directly owned 16,900 shares in the company, valued at approximately $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.17% of the company's stock.

Analyst Upgrades and Downgrades

MPC has been the topic of several recent analyst reports. Jefferies Financial Group set a $335.00 price target on shares of Marathon Petroleum and gave the stock a "buy" rating in a research note on Sunday, July 12th. TD Cowen boosted their price objective on shares of Marathon Petroleum from $357.00 to $375.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Bank of America upped their target price on shares of Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. The Goldman Sachs Group raised their target price on shares of Marathon Petroleum from $291.00 to $376.00 and gave the stock a "buy" rating in a research report on Wednesday, July 22nd. Finally, Piper Sandler lifted their price target on shares of Marathon Petroleum from $343.00 to $344.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Marathon Petroleum has an average rating of "Moderate Buy" and an average price target of $312.50.

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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