NEOS Investment Management LLC Purchases 5,568 Shares of Marathon Petroleum Corporation $MPC

Key Points

• NEOS Investment Management increased its Marathon Petroleum stake by 13% in the second quarter, purchasing 5,568 shares and bringing its total holdings to 48,445 shares valued at approximately $12.4 million. Institutional investors collectively own 76.77% of MPC.
• Analysts remain broadly positive, with 12 Buy ratings and five Hold ratings producing a consensus “Moderate Buy” recommendation and an average price target of $322.44.
• Marathon Petroleum reported quarterly EPS of $17.73, surpassing estimates of $14.27, while revenue rose 53.5% year over year to $51.99 billion. The company also declared a quarterly dividend of $1.00 per share, equivalent to a 1.0% annual yield.

NEOS Investment Management LLC lifted its position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 13.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,445 shares of the oil and gas company's stock after purchasing an additional 5,568 shares during the period. NEOS Investment Management LLC's holdings in Marathon Petroleum were worth $12,386,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB lifted its holdings in Marathon Petroleum by 3.2% in the 2nd 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 period. Equitable Trust Co. raised its holdings in shares of Marathon Petroleum by 1.6% during the first quarter. Equitable Trust Co. now owns 2,637 shares of the oil and gas company's stock valued at $644,000 after acquiring an additional 42 shares in the last quarter. Bartlett & CO. Wealth Management LLC raised its holdings in shares of 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 valued at $2,411,000 after acquiring an additional 42 shares in the last quarter. High Net Worth Advisory Group LLC lifted its stake in Marathon Petroleum by 2.6% in the second quarter. High Net Worth Advisory Group LLC now owns 1,636 shares of the oil and gas company's stock worth $418,000 after acquiring an additional 42 shares during the period. Finally, Wellington Grp LLC boosted its holdings in Marathon Petroleum by 9.6% in the first quarter. Wellington Grp LLC now owns 516 shares of the oil and gas company's stock valued at $126,000 after acquiring an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on MPC shares. Morgan Stanley upped their price objective on shares of Marathon Petroleum from $233.00 to $265.00 and gave the stock an "overweight" rating in a report on Friday, June 12th. UBS Group reiterated a "buy" rating and set a $321.00 price target on shares of Marathon Petroleum in a research report on Friday, July 10th. Jefferies Financial Group set a $335.00 price target on shares of Marathon Petroleum and gave the stock a "buy" rating in a research note on Sunday, July 12th. Citigroup raised their price objective on shares of Marathon Petroleum from $303.00 to $318.00 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. Finally, Wall Street Zen raised Marathon Petroleum from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 10th. Twelve equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Marathon Petroleum has a consensus rating of "Moderate Buy" and an average target price of $322.44.

Insider Activity

In other news, VP Erin M. Brzezinski sold 570 shares of the business's stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total value of $206,790.30. Following the sale, the vice president directly owned 1,576 shares of the company's stock, valued at $571,757.04. The trade was a 26.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Molly Benson sold 17,196 shares of the firm's stock in a transaction that occurred 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 transaction, the insider directly owned 30,334 shares of the company's stock, valued at approximately $10,876,862.38. This trade represents a 36.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 21,691 shares of company stock worth $7,780,127. Insiders own 0.17% of the company's stock.

Marathon Petroleum Stock Up 0.6%

NYSE:MPC opened at $389.86 on Friday. The firm's 50-day moving average price is $322.31 and its 200-day moving average price is $266.52. The company has a market capitalization of $113.81 billion, a PE ratio of 13.40, a P/E/G ratio of 0.25 and a beta of 0.53. 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 $398.52.

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 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 company had revenue of $51.99 billion during the quarter, compared to analysts' expectations of $40.87 billion. During the same period last year, the company posted $3.96 EPS. Marathon Petroleum's revenue was up 53.5% on a year-over-year basis. On average, equities analysts predict that Marathon Petroleum Corporation will post 47.23 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum's dividend payout ratio (DPR) is presently 13.75%.

Marathon Petroleum Company 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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source