Rakuten Investment Management Inc. Invests $12.42 Million in Marathon Petroleum Corporation $MPC

Key Points

• Rakuten Investment Management acquired 47,897 Marathon Petroleum shares worth approximately $12.42 million during the second quarter. Institutional investors collectively own 76.77% of MPC.
• Marathon Petroleum reported quarterly earnings of $17.73 per share, beating estimates of $14.27, while revenue rose 53.5% year over year to $51.99 billion.
• The company declared a quarterly dividend of $1.00 per share, or $4.00 annually, representing a 1.1% yield. Analysts maintain a “Moderate Buy” consensus, although insiders sold more than $8.7 million in shares over the past three months.

Rakuten Investment Management Inc. acquired a new position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 47,897 shares of the oil and gas company's stock, valued at approximately $12,416,000.

Other large investors also recently added to or reduced their stakes in the company. Solstein Capital LLC bought a new position in Marathon Petroleum in the second quarter worth approximately $26,000. Caitlin John LLC purchased a new position in shares of Marathon Petroleum during the 2nd quarter worth $26,000. Bell Investment Advisors Inc bought a new stake in shares of Marathon Petroleum during the 2nd quarter valued at $27,000. Navalign LLC purchased a new stake in shares of Marathon Petroleum in the 4th quarter worth $30,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Marathon Petroleum in the 4th quarter worth $31,000. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Price Performance

NYSE:MPC opened at $369.00 on Friday. The business's 50-day simple moving average is $308.87 and its two-hundred day simple moving average is $260.20. Marathon Petroleum Corporation has a 52 week low of $161.93 and a 52 week high of $369.12. The stock has a market cap of $107.73 billion, a PE ratio of 12.68, a P/E/G ratio of 0.24 and a beta of 0.52. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, topping analysts' consensus estimates of $14.27 by $3.46. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The firm had revenue of $51.99 billion during the quarter, compared to analyst estimates of $40.87 billion. During the same quarter in the prior year, the company posted $3.96 earnings per share. The business's quarterly revenue was up 53.5% compared to the same quarter last year. As a group, analysts forecast that Marathon Petroleum Corporation will post 46.66 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

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

Analyst Ratings Changes

MPC has been the subject of several recent research reports. The Goldman Sachs Group boosted their price target on Marathon Petroleum from $291.00 to $376.00 and gave the company a "buy" rating in a report on Wednesday, July 22nd. Jefferies Financial Group set a $335.00 price objective on Marathon Petroleum and gave the stock a "buy" rating in a research note on Sunday, July 12th. Raymond James Financial lifted their price objective on Marathon Petroleum from $300.00 to $335.00 and gave the company an "outperform" rating in a research report on Monday, July 13th. Citigroup boosted their price objective on Marathon Petroleum from $303.00 to $318.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. Finally, Morgan Stanley increased their target price 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. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $312.50.

Insiders Place Their Bets

In other news, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the sale, the vice president 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Molly R. Benson sold 17,196 shares of the business's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $358.57, for a total transaction of $6,165,969.72. Following the completion of the transaction, the insider directly owned 30,334 shares in the company, valued at $10,876,862.38. This trade represents a 36.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 26,032 shares of company stock worth $8,744,213 in the last three months. 0.17% of the stock is owned by company insiders.

Marathon Petroleum 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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