Korea Investment CORP Invests $55.23 Million in Marathon Petroleum Corporation $MPC

Key Points

• Korea Investment CORP acquired 216,010 shares of Marathon Petroleum worth approximately $55.23 million, representing about 0.07% of the company. Institutional investors collectively own 76.77% of MPC.
• 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. Analysts maintain a “Moderate Buy” consensus with an average price target of $312.50.
• MPC shares opened at $362.18, near their 52-week high of $367.60. The company also declared a quarterly dividend of $1.00 per share, equal to a $4.00 annualized payout and a 1.1% yield.

Korea Investment CORP acquired a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 216,010 shares of the oil and gas company's stock, valued at approximately $55,227,000. Korea Investment CORP owned approximately 0.07% of Marathon Petroleum as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Bell Investment Advisors Inc bought a new stake in Marathon Petroleum during the 2nd quarter valued at $27,000. Frazier Financial Advisors LLC bought a new position in shares of Marathon Petroleum in the 2nd quarter worth $36,000. Main Street Group LTD bought a new position in shares of Marathon Petroleum in the 1st quarter worth $35,000. Cedar Mountain Advisors LLC purchased a new stake in shares of Marathon Petroleum during the 1st quarter worth $40,000. Finally, Navalign LLC purchased a new stake in shares of Marathon Petroleum during the 4th quarter worth $30,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the company'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 sale, the vice president directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Shawn M. Lyon sold 2,500 shares of the company's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $350.00, for a total transaction of $875,000.00. Following the completion of the sale, the senior vice president directly owned 12,619 shares in the company, valued at approximately $4,416,650. The trade was a 16.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.17% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on MPC shares. Raymond James Financial lifted their target price on Marathon Petroleum from $300.00 to $335.00 and gave the company an "outperform" rating in a research note on Monday, July 13th. Wells Fargo & Company increased their price target on shares of Marathon Petroleum from $344.00 to $359.00 and gave the company an "overweight" rating in a research report on Wednesday, August 5th. Bank of America raised their price target on shares of Marathon Petroleum from $224.00 to $260.00 in a report on Tuesday, May 26th. Evercore set a $330.00 price objective on shares of Marathon Petroleum in a research report on Wednesday, August 5th. Finally, Jefferies Financial Group set a $335.00 price objective on shares of Marathon Petroleum and gave the stock a "buy" rating in a research note on Sunday, July 12th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $312.50.

Marathon Petroleum Trading Up 1.1%

Shares of NYSE:MPC opened at $362.18 on Friday. Marathon Petroleum Corporation has a 52-week low of $161.93 and a 52-week high of $367.60. The stock has a market cap of $105.73 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 0.23 and a beta of 0.52. 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 business has a 50-day moving average price of $297.25 and a 200-day moving average price of $254.23.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its 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 firm had revenue of $51.99 billion for the quarter, compared to analyst estimates of $40.87 billion. During the same quarter in the prior year, the firm earned $3.96 earnings per share. Marathon Petroleum's revenue for the quarter was up 53.5% on a year-over-year basis. Equities analysts predict that Marathon Petroleum Corporation will post 46.66 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 19th. Marathon Petroleum's dividend payout ratio is 13.75%.

About Marathon Petroleum

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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