Oliver Lagore Vanvalin Investment Group Takes $1.09 Million Position in Marathon Petroleum Corporation $MPC

Key Points

• Oliver Lagore Vanvalin Investment Group acquired a new stake in Marathon Petroleum Corporation, purchasing 6,578 shares valued at approximately $1,093,000.
• Marathon Petroleum reported earnings of $3.96 per share for the last quarter, exceeding estimates by $0.74, despite a year-over-year revenue decline of 11.1%.
• The company declared a quarterly dividend of $0.91, representing a 2.0% yield and a payout ratio of 54.01%.

Oliver Lagore Vanvalin Investment Group purchased a new stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,578 shares of the oil and gas company's stock, valued at approximately $1,093,000.

Other large investors also recently modified their holdings of the company. Baker Tilly Wealth Management LLC grew its position in Marathon Petroleum by 2.8% during the 2nd quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company's stock worth $370,000 after acquiring an additional 60 shares during the last quarter. Sunpointe LLC grew its position in Marathon Petroleum by 4.1% during the 2nd quarter. Sunpointe LLC now owns 1,750 shares of the oil and gas company's stock worth $291,000 after acquiring an additional 69 shares during the last quarter. Beverly Hills Private Wealth LLC grew its position in Marathon Petroleum by 1.3% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 6,739 shares of the oil and gas company's stock worth $982,000 after acquiring an additional 84 shares during the last quarter. Valmark Advisers Inc. grew its position in Marathon Petroleum by 2.3% during the 1st quarter. Valmark Advisers Inc. now owns 3,801 shares of the oil and gas company's stock worth $554,000 after acquiring an additional 86 shares during the last quarter. Finally, Southland Equity Partners LLC grew its position in Marathon Petroleum by 6.2% during the 1st quarter. Southland Equity Partners LLC now owns 1,549 shares of the oil and gas company's stock worth $226,000 after acquiring an additional 90 shares during the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Up 2.0%

Shares of NYSE MPC traded up $3.78 during mid-day trading on Tuesday, reaching $191.03. 527,438 shares of the company were exchanged, compared to its average volume of 2,549,551. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. The stock has a market cap of $58.08 billion, a price-to-earnings ratio of 28.34, a P/E/G ratio of 3.43 and a beta of 0.97. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $192.61. The firm has a 50-day moving average of $173.45 and a 200 day moving average of $159.06.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The company had revenue of $34.10 billion during the quarter, compared to analysts' expectations of $31.70 billion. During the same period last year, the business earned $4.12 earnings per share. Marathon Petroleum's quarterly revenue was down 11.1% on a year-over-year basis. On average, research analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were paid a $0.91 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a yield of 1.9%. Marathon Petroleum's payout ratio is currently 54.01%.

Insider Buying and Selling

In related news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction on Friday, August 15th. The stock was sold at an average price of $163.00, for a total value of $1,773,277.00. Following the transaction, the insider owned 28,700 shares in the company, valued at approximately $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total value of $1,293,600.00. Following the sale, the director directly owned 18,944 shares in the company, valued at approximately $3,315,200. The trade was a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MPC shares. TD Cowen cut their price objective on Marathon Petroleum from $190.00 to $182.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Evercore ISI lifted their price objective on Marathon Petroleum from $170.00 to $210.00 and gave the stock an "in-line" rating in a research report on Friday. Scotiabank reiterated an "outperform" rating on shares of Marathon Petroleum in a research report on Friday, July 11th. Wolfe Research cut Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Finally, Mizuho lifted their price objective on Marathon Petroleum from $184.00 to $188.00 and gave the company a "neutral" rating in a research note on Monday, September 15th. Eight investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Marathon Petroleum presently has an average rating of "Moderate Buy" and a consensus target price of $192.50.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.