Global Retirement Partners LLC Acquires Shares of 12,769 Marathon Petroleum Corporation $MPC

Key Points

• Global Retirement Partners initiated a position of 12,769 Marathon Petroleum shares worth approximately $3.27 million in the second quarter. Institutional investors collectively own 76.77% of MPC.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $312.50; Piper Sandler and Barclays recently raised their targets to $344 and $321, respectively.
• 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. The company also declared a $1 quarterly dividend, equivalent to a 1.1% yield.

Global Retirement Partners LLC purchased a new position in shares of 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 purchased 12,769 shares of the oil and gas company's stock, valued at approximately $3,265,000.

A number of other hedge funds also recently modified their holdings of MPC. Main Street Group LTD purchased a new stake in shares of Marathon Petroleum during the first quarter worth $35,000. Cedar Mountain Advisors LLC purchased a new position in shares of Marathon Petroleum in the first quarter valued at $40,000. Navalign LLC bought a new stake in shares of Marathon Petroleum during the 4th quarter valued at $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Marathon Petroleum during the 4th quarter valued at $31,000. Finally, Berbice Capital Management LLC lifted its holdings in Marathon Petroleum by 100.0% during the 4th 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 in the last quarter. Institutional investors own 76.77% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MPC. Piper Sandler upped their price target on Marathon Petroleum from $343.00 to $344.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Weiss Ratings raised shares of Marathon Petroleum from a "hold (c+)" rating to a "buy (b)" rating in a research note on Wednesday, August 5th. 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. JPMorgan Chase & Co. increased their target price on shares of Marathon Petroleum from $235.00 to $257.00 in a research note on Wednesday, May 6th. Finally, Barclays raised their price target on shares of Marathon Petroleum from $289.00 to $321.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $312.50.

Insiders Place Their Bets

In other news, VP Michael A. Henschen II sold 6,336 shares of the firm's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the transaction, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. This trade represents a 27.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is currently owned by company insiders.

Marathon Petroleum Stock Up 0.1%

Shares of NYSE MPC opened at $355.61 on Monday. The firm's fifty day moving average is $287.31 and its 200 day moving average is $248.19. Marathon Petroleum Corporation has a 52 week low of $160.87 and a 52 week high of $360.10. 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 company has a market cap of $103.82 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 0.23 and a beta of 0.52.

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

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given 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 dividend payout ratio is currently 13.75%.

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.

Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Corporation (NYSE:MPC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source