Magnolia Capital Advisors LLC Makes New Investment in Marathon Petroleum Corporation $MPC

Key Points

• Magnolia Capital Advisors initiated a Marathon Petroleum position worth approximately $1.315 million in the second quarter. Institutional investors collectively own 76.77% of MPC, with BlackRock and Bank of New York Mellon among other major recent investors.
• Marathon Petroleum reported quarterly earnings of $17.73 per share, exceeding estimates of $14.27, while revenue rose 53.5% year over year to $51.99 billion.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $312.50; the company also declared a $1.00 quarterly dividend, or $4.00 annualized.

Magnolia Capital Advisors LLC bought a new stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,142 shares of the oil and gas company's stock, valued at approximately $1,315,000.

Several other large investors also recently modified their holdings of the business. BlackRock Inc. acquired a new position in shares of Marathon Petroleum in the 2nd quarter valued at approximately $6,648,958,000. Bank of New York Mellon Corp acquired a new stake in Marathon Petroleum during the 2nd quarter worth approximately $1,029,611,000. Norges Bank bought a new position in Marathon Petroleum in the fourth quarter valued at approximately $472,312,000. Capital Wealth Planning LLC lifted its stake in Marathon Petroleum by 49,392.0% in the fourth quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company's stock valued at $245,157,000 after buying an additional 1,495,097 shares in the last quarter. Finally, Legal & General Group Plc acquired a new position in shares of Marathon Petroleum in the second quarter valued at approximately $380,745,000. 76.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction dated 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 transaction, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. This represents a 27.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Shawn M. Lyon sold 2,500 shares of the firm's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $350.00, for a total value of $875,000.00. Following the completion of the transaction, the senior vice president 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 disclosure for this sale is available in the SEC filing. Insiders have sold 26,032 shares of company stock valued at $8,744,213 in the last three months. 0.17% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Morgan Stanley increased their price objective on shares of Marathon Petroleum from $233.00 to $265.00 and gave the stock an "overweight" rating in a research report on Friday, June 12th. Wells Fargo & Company upped their target price on shares of Marathon Petroleum from $344.00 to $359.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 5th. Wall Street Zen upgraded Marathon Petroleum from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 10th. BMO Capital Markets reissued an "outperform" rating on shares of Marathon Petroleum in a research note on Friday, June 12th. Finally, Zacks Research lowered Marathon Petroleum from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 17th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $312.50.

Marathon Petroleum Price Performance

NYSE MPC opened at $362.70 on Thursday. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. Marathon Petroleum Corporation has a 12-month low of $161.93 and a 12-month high of $367.60. The company has a market capitalization of $105.89 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52. The firm's 50 day moving average is $303.95 and its 200-day moving average is $258.31.

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

Marathon Petroleum Dividend Announcement

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 given a dividend of $1.00 per share. 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 13.75%.

Marathon Petroleum 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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