Pacer Advisors Inc. Acquires 31,343 Shares of Marathon Petroleum Corporation $MPC

Key Points

• Pacer Advisors increased its Marathon Petroleum stake by 2.4%, buying 31,343 shares to hold 1.34 million shares worth approximately $326.7 million. Institutional investors collectively own 76.77% of the company.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $298.69; several firms recently raised their targets, including Goldman Sachs to $376.
• Marathon Petroleum exceeded quarterly earnings expectations, reporting $1.65 in EPS versus a $0.74 consensus estimate and revenue of $34.2 billion. The company also declared a quarterly dividend of $1.00 per share, representing a 1.3% yield.

Pacer Advisors Inc. lifted its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 2.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,338,092 shares of the oil and gas company's stock after purchasing an additional 31,343 shares during the period. Pacer Advisors Inc. owned 0.46% of Marathon Petroleum worth $326,735,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Navalign LLC bought a new stake in Marathon Petroleum during the 4th quarter worth about $30,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Marathon Petroleum in the fourth quarter worth about $31,000. Berbice Capital Management LLC raised its stake in shares of Marathon Petroleum by 100.0% in the fourth quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company's stock worth $33,000 after acquiring an additional 100 shares during the last quarter. WFA of San Diego LLC acquired a new position in shares of Marathon Petroleum during the second quarter worth approximately $33,000. Finally, Ares Financial Consulting LLC bought a new stake in shares of Marathon Petroleum during the fourth quarter valued at approximately $34,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the firm's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the transaction, the vice president owned 16,900 shares in the company, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Morgan Stanley raised their price target on shares of Marathon Petroleum from $233.00 to $265.00 and gave the company an "overweight" rating in a report on Friday, June 12th. The Goldman Sachs Group lifted their target price on Marathon Petroleum from $291.00 to $376.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. boosted their target price on Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. Weiss Ratings raised Marathon Petroleum from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, July 6th. Finally, Jefferies Financial Group set a $335.00 price target on Marathon Petroleum and gave the company a "buy" rating in a report on Sunday, July 12th. Eleven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $298.69.

Marathon Petroleum Price Performance

Shares of MPC stock opened at $316.25 on Monday. Marathon Petroleum Corporation has a 52-week low of $158.00 and a 52-week high of $326.92. The stock has a market cap of $92.33 billion, a PE ratio of 20.64, a PEG ratio of 0.20 and a beta of 0.52. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18. The firm's 50 day moving average price is $274.13 and its two-hundred day moving average price is $237.86.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, beating the consensus estimate of $0.74 by $0.91. The company had revenue of $34.20 billion during the quarter, compared to analysts' expectations of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The business's revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.24) EPS. As a group, analysts forecast that Marathon Petroleum Corporation will post 43.19 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum's dividend payout ratio is currently 26.11%.

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.

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