Ieq Capital LLC Buys Shares of 25,439 Marathon Petroleum Corporation $MPC

Key Points

• Ieq Capital LLC purchased 25,439 Marathon Petroleum shares during the second quarter, valued at approximately $6.5 million. 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.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $312.50. The company also declared a quarterly dividend of $1.00 per share, equivalent to a 1.1% annual yield.

Ieq Capital LLC purchased a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 25,439 shares of the oil and gas company's stock, valued at approximately $6,504,000.

Other hedge funds also recently bought and sold shares of the company. Bell Investment Advisors Inc purchased a new stake in Marathon Petroleum in the 2nd quarter worth approximately $27,000. Navalign LLC bought a new stake in Marathon Petroleum during the fourth quarter valued at $30,000. Kohmann Bosshard Financial Services LLC purchased a new position in Marathon Petroleum during the fourth quarter worth about $31,000. Berbice Capital Management LLC grew its position in 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 buying an additional 100 shares in the last quarter. Finally, WFA of San Diego LLC bought a new position in Marathon Petroleum in the 2nd quarter worth about $33,000. Hedge funds and other institutional investors own 76.77% of the company's stock.

Insider Activity

In other Marathon Petroleum news, SVP Shawn M. Lyon sold 2,500 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $350.00, for a total value of $875,000.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, the vice president directly owned 16,900 shares in the company, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.17% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on MPC shares. Piper Sandler raised their price target on Marathon Petroleum from $343.00 to $344.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. JPMorgan Chase & Co. raised their target price on shares of Marathon Petroleum from $235.00 to $257.00 in a research note on Wednesday, May 6th. Evercore set a $330.00 target price on shares of Marathon Petroleum in a research report on Wednesday, August 5th. 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. Finally, UBS Group restated a "buy" rating and set 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. Based on data from MarketBeat.com, Marathon Petroleum has a consensus rating of "Moderate Buy" and a consensus target price of $312.50.

Marathon Petroleum Stock Up 0.4%

Shares of MPC opened at $362.18 on Monday. Marathon Petroleum Corporation has a 1 year low of $161.93 and a 1 year high of $367.60. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89. The stock has a 50 day simple moving average of $297.25 and a two-hundred day simple moving average of $254.78. The firm has a market cap of $105.73 billion, a P/E 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 posted its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, topping the consensus estimate of $14.27 by $3.46. The firm had revenue of $51.99 billion for the quarter, compared to the consensus estimate 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 was up 53.5% compared to the same quarter last year. During the same period last year, the firm posted $3.96 earnings per share. On average, analysts forecast that Marathon Petroleum Corporation will post 46.66 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

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

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