PCM Encore LLC Invests $1.55 Million in Marathon Petroleum Corporation $MPC

Key Points

• PCM Encore LLC acquired 6,049 Marathon Petroleum shares worth approximately $1.55 million during the second quarter. Institutional investors collectively own 76.77% of MPC.
• Marathon Petroleum reported quarterly earnings of $17.73 per share, exceeding estimates by $3.46, while revenue rose 53.5% year over year to $51.99 billion.
• MPC shares opened at $358.71, near their 52-week high, and the company declared a quarterly dividend of $1.00 per share. Analysts maintain a “Moderate Buy” consensus rating with an average target price of $312.50.

PCM Encore LLC acquired a new stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,049 shares of the oil and gas company's stock, valued at approximately $1,546,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Bell Investment Advisors Inc purchased a new position in Marathon Petroleum during the second quarter worth about $27,000. Frazier Financial Advisors LLC purchased a new stake in Marathon Petroleum in the 2nd quarter valued at about $36,000. Main Street Group LTD acquired a new position in shares of Marathon Petroleum during the 1st quarter valued at about $35,000. Cedar Mountain Advisors LLC acquired a new position in shares of Marathon Petroleum during the 1st quarter valued at about $40,000. Finally, Navalign LLC purchased a new position in shares of Marathon Petroleum during the 4th quarter worth about $30,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Marathon Petroleum

In related 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 transaction of $875,000.00. Following the sale, the senior vice president directly owned 12,619 shares in the company, valued at approximately $4,416,650. This trade represents a 16.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Michael A. Henschen II sold 6,336 shares of the business's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the transaction, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. This trade represents a 27.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.17% of the company's stock.

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $358.71 on Friday. The firm has a fifty day moving average of $295.27 and a 200-day moving average of $253.47. Marathon Petroleum Corporation has a 52-week low of $161.93 and a 52-week high of $367.60. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $104.72 billion, a P/E ratio of 12.33, a PEG ratio of 0.23 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, beating 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 business had revenue of $51.99 billion for the quarter, compared to analyst estimates of $40.87 billion. During the same quarter in the previous year, the business posted $3.96 EPS. The business's quarterly revenue was up 53.5% on a year-over-year basis. As a group, analysts predict that Marathon Petroleum Corporation will post 46.66 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed 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. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum's payout ratio is currently 13.75%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on MPC shares. Morgan Stanley raised their target price on shares of Marathon Petroleum from $233.00 to $265.00 and gave the stock an "overweight" rating in a research report on Friday, June 12th. Evercore set a $330.00 price target on shares of Marathon Petroleum in a research report on Wednesday, August 5th. Bank of America increased their price target on shares of Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. TD Cowen lifted their price target on shares of Marathon Petroleum from $357.00 to $375.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Marathon Petroleum in a report on Friday, June 12th. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Marathon Petroleum presently has a consensus 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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