Manning & Napier Advisors LLC bought a new position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 9,004 shares of the oil and gas company's stock, valued at approximately $2,334,000.
A number of other large investors also recently made changes to their positions in MPC. Brighton Jones LLC raised its holdings in Marathon Petroleum by 30.9% in the fourth quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company's stock worth $696,000 after purchasing an additional 1,178 shares during the period. Woodline Partners LP boosted its position in shares of Marathon Petroleum by 38.3% during the first quarter. Woodline Partners LP now owns 26,697 shares of the oil and gas company's stock worth $3,889,000 after buying an additional 7,396 shares during the period. Sivia Capital Partners LLC boosted its position in Marathon Petroleum by 26.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,221 shares of the oil and gas company's stock worth $369,000 after acquiring an additional 466 shares during the last quarter. Marshall Wace LLP bought a new position in Marathon Petroleum in the second quarter valued at $8,505,000. Finally, AXA S.A. grew its holdings in shares of Marathon Petroleum by 46.7% in the 2nd quarter. AXA S.A. now owns 39,675 shares of the oil and gas company's stock valued at $6,590,000 after acquiring an additional 12,639 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the company. TD Cowen upped their price objective on Marathon Petroleum from $357.00 to $375.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Wells Fargo & Company raised their price target on Marathon Petroleum from $344.00 to $359.00 and gave the company an "overweight" rating in a report on Wednesday, August 5th. Bank of America upped their target price on Marathon Petroleum from $224.00 to $260.00 in a research report on Tuesday, May 26th. Wall Street Zen upgraded shares of Marathon Petroleum from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 10th. Finally, Mizuho upped their target price on Marathon Petroleum from $284.00 to $304.00 and gave the company a "neutral" rating in a research report on Tuesday, August 11th. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $312.50.
Get Our Latest Analysis on Marathon Petroleum
Marathon Petroleum Stock Down 2.0%
Shares of NYSE MPC opened at $355.31 on Wednesday. The firm has a market cap of $103.73 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52. The company has a 50 day simple moving average of $301.58 and a 200 day simple moving average of $257.14. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89. Marathon Petroleum Corporation has a 1 year low of $161.93 and a 1 year high of $367.60.
Marathon Petroleum (NYSE:MPC - Get Free Report) last released its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $40.87 billion. During the same quarter in the prior year, the firm posted $3.96 EPS. The company's revenue for the quarter was up 53.5% compared to the same quarter last year. On average, research analysts forecast that Marathon Petroleum Corporation will post 46.66 EPS for the current year.
Marathon Petroleum Dividend Announcement
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 paid 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 dividend payout ratio (DPR) is currently 13.75%.
Insider Transactions at Marathon Petroleum
In other Marathon Petroleum news, insider Molly R. Benson sold 17,196 shares of the firm's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $358.57, for a total value of $6,165,969.72. Following the completion of the sale, the insider directly owned 30,334 shares in the company, valued at approximately $10,876,862.38. This trade represents a 36.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Shawn M. Lyon sold 2,500 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $350.00, for a total value of $875,000.00. Following the sale, the senior vice president owned 12,619 shares of the company's stock, valued at approximately $4,416,650. This represents a 16.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 26,032 shares of company stock valued at $8,744,213 in the last quarter. 0.17% of the stock is currently owned by company insiders.
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.
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