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

Marathon Petroleum logo with Energy background
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Key Points

  • Infrastructure Capital Advisors opened a new position in Marathon Petroleum during the fourth quarter, buying 28,045 shares valued at about $4.56 million.
  • Brokerages remain broadly positive on MPC, with several firms raising price targets and MarketBeat citing a consensus rating of Moderate Buy and a target price of $272.94.
  • Marathon Petroleum posted strong quarterly results, beating EPS and revenue estimates, while also paying a $1.00 quarterly dividend that annualizes to $4.00 per share.
  • MarketBeat previews top five stocks to own in July.

Infrastructure Capital Advisors LLC acquired a new stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 28,045 shares of the oil and gas company's stock, valued at approximately $4,561,000.

Several other large investors have also made changes to their positions in the business. Navalign LLC purchased a new stake in shares of Marathon Petroleum in the fourth quarter worth about $30,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Marathon Petroleum in the fourth quarter worth about $31,000. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Marathon Petroleum in the third quarter worth about $39,000. IAG Wealth Partners LLC bought a new stake in Marathon Petroleum during the third quarter worth approximately $39,000. Finally, Berbice Capital Management LLC increased its stake 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 acquiring an additional 100 shares during the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on MPC. Scotiabank boosted their price objective on Marathon Petroleum from $174.00 to $210.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, April 22nd. The Goldman Sachs Group boosted their price objective on Marathon Petroleum from $264.00 to $291.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Piper Sandler boosted their price objective on Marathon Petroleum from $197.00 to $228.00 and gave the stock a "neutral" rating in a research note on Thursday, April 9th. BMO Capital Markets reissued an "outperform" rating on shares of Marathon Petroleum in a research note on Friday, June 12th. Finally, Bank of America boosted their price objective on Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $272.94.

Get Our Latest Stock Analysis on MPC

Key Headlines Impacting Marathon Petroleum

Here are the key news stories impacting Marathon Petroleum this week:

Insider Activity at Marathon Petroleum

In other news, VP Michael A. Henschen II sold 6,336 shares of the company's stock in a transaction that occurred 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 transaction, the vice president owned 16,900 shares of the company's stock, valued at approximately $4,543,058. This represents a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.17% of the company's stock.

Marathon Petroleum Trading Down 2.3%

MPC opened at $244.63 on Thursday. The stock has a market cap of $71.42 billion, a price-to-earnings ratio of 15.97, a P/E/G ratio of 0.38 and a beta of 0.52. The stock's 50 day moving average price is $244.99 and its 200-day moving average price is $213.77. Marathon Petroleum Corporation has a one year low of $158.00 and a one year high of $272.46. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.91. The firm had revenue of $34.20 billion for the quarter, compared to analysts' expectations of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The company's quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.24) earnings per share. On average, equities analysts forecast that Marathon Petroleum Corporation will post 31.95 EPS for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.6%. Marathon Petroleum's dividend payout ratio is currently 26.11%.

About Marathon Petroleum

(Free Report)

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.

Read More

Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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.

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