Meeder Advisory Services Inc. Takes $3.19 Million Position in Marathon Petroleum Corporation $MPC

Key Points

• Meeder Advisory Services acquired 12,462 shares of Marathon Petroleum worth approximately $3.19 million, while institutional investors and hedge funds collectively own 76.77% of the company.
• Marathon Petroleum reported quarterly EPS of $17.73, beating estimates of $14.27, as revenue rose 53.5% year over year to $51.99 billion.
• The company declared a quarterly dividend of $1.00 per share, equivalent to $4.00 annually and a 1.1% yield; analysts maintain a “Moderate Buy” consensus with an average price target of $312.50.

Meeder Advisory Services Inc. acquired a new stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 12,462 shares of the oil and gas company's stock, valued at approximately $3,186,000.

Other hedge funds have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB lifted its position in shares of Marathon Petroleum by 3.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,288 shares of the oil and gas company's stock worth $329,000 after buying an additional 40 shares during the last quarter. Equitable Trust Co. lifted its holdings in Marathon Petroleum by 1.6% in the 1st quarter. Equitable Trust Co. now owns 2,637 shares of the oil and gas company's stock worth $644,000 after purchasing an additional 42 shares during the last quarter. Bartlett & CO. Wealth Management LLC boosted its position in Marathon Petroleum by 0.4% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 9,548 shares of the oil and gas company's stock worth $2,411,000 after purchasing an additional 42 shares during the period. Wellington Grp LLC grew its holdings in Marathon Petroleum by 9.6% during the first quarter. Wellington Grp LLC now owns 516 shares of the oil and gas company's stock valued at $126,000 after purchasing an additional 45 shares during the last quarter. Finally, Avior Wealth Management LLC raised its position in shares of Marathon Petroleum by 2.2% in the second quarter. Avior Wealth Management LLC now owns 2,108 shares of the oil and gas company's stock valued at $539,000 after purchasing an additional 46 shares during the period. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Stock Up 2.4%

Shares of MPC opened at $366.79 on Wednesday. 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 company has a 50-day simple moving average of $291.36 and a 200-day simple moving average of $250.88. Marathon Petroleum Corporation has a 52 week low of $161.80 and a 52 week high of $367.24. The firm has a market capitalization of $107.08 billion, a P/E ratio of 12.61, a P/E/G ratio of 0.23 and a beta of 0.52.

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, beating the consensus estimate 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 period in the previous year, the company posted $3.96 earnings per share. The company's quarterly revenue was up 53.5% compared to the same quarter last year. On average, equities research analysts expect that Marathon Petroleum Corporation will post 46.66 earnings per share for the current 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 paid a dividend of $1.00 per share. The ex-dividend date is Wednesday, August 19th. This represents a $4.00 dividend on an annualized basis and a yield of 1.1%. Marathon Petroleum's payout ratio is currently 13.75%.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, 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 transaction of $875,000.00. Following the completion of the transaction, the senior vice president owned 12,619 shares in the company, valued at $4,416,650. This trade represents a 16.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction that occurred 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 in the company, valued at $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.17% of the company's stock.

Wall Street Analyst Weigh In

MPC has been the topic of a number of research analyst reports. Morgan Stanley raised their target price on shares of Marathon Petroleum from $233.00 to $265.00 and gave the company an "overweight" rating in a research note on Friday, June 12th. Evercore set a $330.00 price target on shares of Marathon Petroleum in a report on Wednesday, August 5th. Mizuho lifted their price objective on Marathon Petroleum from $284.00 to $304.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 11th. Jefferies Financial Group set a $335.00 price objective on Marathon Petroleum and gave the stock a "buy" rating in a research report on Sunday, July 12th. Finally, JPMorgan Chase & Co. lifted their price target on Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, Marathon Petroleum has an average rating of "Moderate Buy" and a consensus target price of $312.50.

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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