Infrastructure Capital Advisors LLC Takes $3.13 Million Position in Marathon Petroleum Corporation $MPC

Key Points

• Infrastructure Capital Advisors acquired 12,236 Marathon Petroleum shares worth approximately $3.13 million in the second quarter. Institutional investors collectively own 76.77% of MPC’s outstanding stock.
• 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.
• The company declared a quarterly dividend of $1.00 per share, equivalent to a $4.00 annualized payout and a 1.1% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $312.50.

Infrastructure Capital Advisors LLC acquired a new position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 12,236 shares of the oil and gas company's stock, valued at approximately $3,128,000.

Several other institutional investors have also added to or reduced their stakes in MPC. Energy Income Partners LLC purchased a new position in shares of Marathon Petroleum in the 2nd quarter worth $4,912,000. Pictet Asset Management Holding SA lifted its holdings in Marathon Petroleum by 31.0% in the first quarter. Pictet Asset Management Holding SA now owns 213,545 shares of the oil and gas company's stock valued at $52,146,000 after acquiring an additional 50,521 shares during the period. Teachers Retirement System of The State of Kentucky boosted its position in Marathon Petroleum by 570.7% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 168,644 shares of the oil and gas company's stock worth $41,180,000 after purchasing an additional 143,500 shares during the last quarter. North Dakota State Investment Board bought a new stake in shares of Marathon Petroleum during the 4th quarter valued at about $1,714,000. Finally, ABC Arbitrage SA purchased a new stake in shares of Marathon Petroleum during the 4th quarter valued at about $4,977,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction that occurred on 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 $4,543,058. This trade represents a 27.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Shawn M. Lyon sold 2,500 shares of the business's 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 transaction, the senior vice president directly owned 12,619 shares in the company, valued at $4,416,650. This trade represents a 16.54% decrease in their position. The SEC filing for this sale provides additional information. 0.17% of the stock is currently owned by company insiders.

Marathon Petroleum Stock Up 0.4%

MPC opened at $362.18 on Monday. The stock has a market cap of $105.73 billion, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52. 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's fifty day moving average is $297.25 and its 200 day moving average is $254.78. Marathon Petroleum Corporation has a fifty-two week low of $161.93 and a fifty-two week high of $367.60.

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 (EPS) for the quarter, topping analysts' consensus estimates of $14.27 by $3.46. The business had revenue of $51.99 billion during 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%.Marathon Petroleum's revenue for the quarter was up 53.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.96 EPS. On average, sell-side 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 announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a dividend of $1.00 per share. The ex-dividend date is Wednesday, August 19th. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. Marathon Petroleum's dividend payout ratio (DPR) is currently 13.75%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on MPC shares. Piper Sandler raised their price objective on shares of Marathon Petroleum from $343.00 to $344.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Wells Fargo & Company increased their price target on shares of Marathon Petroleum from $344.00 to $359.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. JPMorgan Chase & Co. lifted their price target on shares of Marathon Petroleum from $235.00 to $257.00 in a research note on Wednesday, May 6th. Mizuho boosted their price objective on shares of Marathon Petroleum from $284.00 to $304.00 and gave the company a "neutral" rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen upgraded Marathon Petroleum from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 10th. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target 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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