Flputnam Investment Management Co. Buys Shares of 10,457 Marathon Petroleum Corporation $MPC

Key Points

• Flputnam Investment Management purchased 10,457 Marathon Petroleum shares worth approximately $2.67 million in the second quarter. Institutional investors collectively own 76.77% of MPC’s outstanding stock.
• Marathon Petroleum reported quarterly earnings of $17.73 per share, surpassing the $14.27 analyst consensus, while revenue rose 53.5% year over year to $51.99 billion.
• The company declared a quarterly dividend of $1.00 per share, or $4.00 annually, representing a 1.1% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $312.50.

Flputnam Investment Management Co. bought a new position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 10,457 shares of the oil and gas company's stock, valued at approximately $2,673,000.

A number of other institutional investors have also added to or reduced their stakes in MPC. Global Retirement Partners LLC bought a new position in shares of Marathon Petroleum during the second quarter valued at approximately $3,265,000. 1ST Source Bank bought a new position in Marathon Petroleum in the second quarter worth approximately $1,099,000. Fielder Capital Group LLC purchased a new stake in Marathon Petroleum during the second quarter worth $451,000. SCS Capital Management LLC purchased a new stake in Marathon Petroleum during the second quarter worth $1,154,000. Finally, Silverlake Wealth Management LLC bought a new stake in Marathon Petroleum during the 2nd quarter valued at $375,000. Hedge funds and other institutional investors own 76.77% of the company's stock.

Insider Activity

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the firm'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 owned 16,900 shares of the company's stock, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.17% of the company's stock.

Marathon Petroleum Trading Up 0.1%

Marathon Petroleum stock opened at $355.61 on Monday. 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 stock has a market cap of $103.82 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52. The stock has a 50-day moving average of $287.31 and a two-hundred day moving average of $248.19. Marathon Petroleum Corporation has a one year low of $160.87 and a one year high of $360.10.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly 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 business 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 company's revenue was up 53.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.96 earnings per share. On average, research analysts anticipate that Marathon Petroleum Corporation will post 46.66 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently commented on MPC. TD Cowen boosted their price target on Marathon Petroleum from $357.00 to $375.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Barclays lifted their target price on Marathon Petroleum from $289.00 to $321.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Jefferies Financial Group set a $335.00 target price on shares of Marathon Petroleum and gave the stock a "buy" rating in a report on Sunday, July 12th. BMO Capital Markets restated an "outperform" rating on shares of Marathon Petroleum in a report on Friday, June 12th. Finally, Citigroup lifted their price objective on shares of Marathon Petroleum from $303.00 to $318.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $312.50.

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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