OneAscent Financial Services LLC Acquires Shares of 3,243 Marathon Petroleum Corporation $MPC

Key Points

• OneAscent Financial Services bought 3,243 Marathon Petroleum shares worth approximately $829,000 in the second quarter. Institutional investors collectively own 76.77% of MPC.
• Marathon Petroleum reported strong quarterly results, with EPS of $17.73 beating estimates of $14.27 and revenue rising 53.5% year over year to $51.99 billion.
• MPC shares opened at $358.71, near their 52-week high, while analysts maintain a “Moderate Buy” consensus with an average price target of $312.50; the company also declared a quarterly dividend of $1.00 per share.

OneAscent Financial Services 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 filing with the Securities & Exchange Commission. The firm bought 3,243 shares of the oil and gas company's stock, valued at approximately $829,000.

Other large investors have also recently modified their holdings of the company. Bell Investment Advisors Inc bought a new stake in shares of Marathon Petroleum in the second quarter valued at approximately $27,000. Navalign LLC bought a new position in Marathon Petroleum in the 4th quarter worth approximately $30,000. Kohmann Bosshard Financial Services LLC bought a new position in Marathon Petroleum in the 4th quarter worth approximately $31,000. Berbice Capital Management LLC grew its stake in Marathon Petroleum by 100.0% in the 4th quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company's stock valued at $33,000 after buying an additional 100 shares in the last quarter. Finally, WFA of San Diego LLC bought a new stake in Marathon Petroleum during the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 76.77% of the company's stock.

Marathon Petroleum Stock Down 0.6%

Shares of NYSE:MPC opened at $358.71 on Friday. The firm has a fifty day moving average price of $295.27 and a two-hundred day moving average price of $253.47. The company has a market cap of $104.72 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 0.23 and a beta of 0.52. 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 one year low of $161.93 and a one year high of $367.60.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, topping the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The firm had revenue of $51.99 billion for the quarter, compared to analysts' expectations of $40.87 billion. During the same quarter in the prior year, the firm posted $3.96 earnings per share. The business's quarterly revenue was up 53.5% on a year-over-year basis. Analysts anticipate that Marathon Petroleum Corporation will post 46.66 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. Shareholders of record on Wednesday, August 19th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum's dividend payout ratio is currently 13.75%.

Insider Transactions 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 stock was 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 $4,416,650. This trade represents a 16.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction dated 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 owned 16,900 shares of the company's stock, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their position. The SEC filing for this sale provides additional information. 0.17% of the stock is owned by corporate insiders.

Analyst Ratings Changes

MPC has been the topic of several recent research reports. The Goldman Sachs Group increased their target price on Marathon Petroleum from $291.00 to $376.00 and gave the stock a "buy" rating in a research report on Wednesday, July 22nd. Barclays lifted their price target on Marathon Petroleum from $289.00 to $321.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. UBS Group reissued a "buy" rating and set a $321.00 price objective on shares of Marathon Petroleum in a report on Friday, July 10th. Mizuho raised their target price on Marathon Petroleum from $284.00 to $304.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 11th. Finally, Piper Sandler lifted their target price on Marathon Petroleum from $343.00 to $344.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target 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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