EP Wealth Advisors LLC Invests $5.63 Million in Marathon Petroleum Corporation $MPC

Key Points

• EP Wealth Advisors acquired 22,038 Marathon Petroleum shares worth approximately $5.63 million in the second quarter. Institutional investors and hedge funds collectively own 76.77% of MPC.
• 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. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $312.50.
• MPC shares opened at $362.18, near their 12-month high of $367.60. The company declared a quarterly dividend of $1.00, equivalent to an annualized $4.00 payout and a 1.1% yield.

EP Wealth Advisors LLC acquired a new stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 22,038 shares of the oil and gas company's stock, valued at approximately $5,634,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC increased its holdings in Marathon Petroleum by 30.9% during the fourth quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company's stock worth $696,000 after buying an additional 1,178 shares during the last quarter. Woodline Partners LP lifted its stake in Marathon Petroleum by 38.3% in the first quarter. Woodline Partners LP now owns 26,697 shares of the oil and gas company's stock valued at $3,889,000 after acquiring an additional 7,396 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in Marathon Petroleum by 26.6% in the second quarter. Sivia Capital Partners LLC now owns 2,221 shares of the oil and gas company's stock valued at $369,000 after acquiring an additional 466 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Marathon Petroleum in the 2nd quarter valued at about $8,505,000. Finally, AXA S.A. grew its position in shares of Marathon Petroleum by 46.7% in the 2nd quarter. AXA S.A. now owns 39,675 shares of the oil and gas company's stock valued at $6,590,000 after acquiring an additional 12,639 shares during the period. Institutional investors and hedge funds own 76.77% of the company's stock.

Insider Buying and Selling at Marathon Petroleum

In other news, SVP Shawn M. Lyon sold 2,500 shares of Marathon Petroleum stock in a transaction on Thursday, August 13th. The stock was 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. This trade represents a 16.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael A. Henschen II sold 6,336 shares of the business's stock in a transaction dated 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 completion of the sale, the vice president directly owned 16,900 shares of the company's stock, valued at approximately $4,543,058. The trade was a 27.27% decrease in their position. The SEC filing for this sale provides additional information. 0.17% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

MPC has been the topic of a number of research analyst reports. Weiss Ratings raised shares of Marathon Petroleum from a "hold (c+)" rating to a "buy (b)" rating in a report on Wednesday, August 5th. Mizuho lifted their price target on Marathon Petroleum from $284.00 to $304.00 and gave the stock a "neutral" rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. boosted their price target on Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. Wells Fargo & Company upped their price objective on Marathon Petroleum from $344.00 to $359.00 and gave the company an "overweight" rating in a research note on Wednesday, August 5th. Finally, UBS Group reaffirmed a "buy" rating and issued a $321.00 price objective on shares of Marathon Petroleum in a research report on Friday, July 10th. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Marathon Petroleum presently has a consensus rating of "Moderate Buy" and an average price target of $312.50.

Marathon Petroleum Trading Up 1.1%

Shares of NYSE:MPC opened at $362.18 on Friday. Marathon Petroleum Corporation has a 12-month low of $161.93 and a 12-month high of $367.60. The business has a 50 day moving average of $297.25 and a 200-day moving average of $254.23. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. The stock has a market cap of $105.73 billion, a PE ratio of 12.45, a P/E/G ratio of 0.23 and a beta of 0.52.

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

Marathon Petroleum Announces Dividend

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