Saudi Central Bank Has $5.27 Million Stock Position in Marathon Petroleum Corporation $MPC

Key Points

• Saudi Central Bank increased its Marathon Petroleum stake by 85.8% in the second quarter, bringing its holdings to 20,615 shares valued at approximately $5.27 million. Institutional investors collectively own 76.77% of MPC.
• Analyst sentiment remains positive, with 12 Buy ratings and five Holds; the consensus rating is “Moderate Buy” and the average price target is $322.44. Marathon Petroleum also exceeded quarterly earnings expectations, reporting $17.73 EPS versus the $14.27 consensus.
• MPC shares opened at $389.86, near their 52-week high of $398.52, while insiders sold 21,691 shares worth approximately $7.78 million in the last quarter. The company declared a $1.00 quarterly dividend, representing a $4.00 annual payout and a 1.0% yield.

Saudi Central Bank lifted its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 85.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,615 shares of the oil and gas company's stock after purchasing an additional 9,519 shares during the period. Saudi Central Bank's holdings in Marathon Petroleum were worth $5,271,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Solstein Capital LLC acquired a new position in Marathon Petroleum during the second quarter worth approximately $26,000. Caitlin John LLC acquired a new stake in shares of Marathon Petroleum in the second quarter valued at approximately $26,000. Bell Investment Advisors Inc bought a new position in shares of Marathon Petroleum during the 2nd quarter worth approximately $27,000. Navalign LLC acquired a new position in shares of Marathon Petroleum during the 4th quarter worth approximately $30,000. Finally, WFA of San Diego LLC bought a new stake in Marathon Petroleum in the 2nd quarter valued at $33,000. 76.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MPC. Morgan Stanley raised their price target on Marathon Petroleum from $233.00 to $265.00 and gave the company an "overweight" rating in a report on Friday, June 12th. Raymond James Financial increased their price objective on shares of Marathon Petroleum from $300.00 to $335.00 and gave the company an "outperform" rating in a research report on Monday, July 13th. Piper Sandler raised their target price on shares of Marathon Petroleum from $344.00 to $462.00 and gave the stock an "overweight" rating in a research note on Thursday. TD Cowen lifted their target price on shares of Marathon Petroleum from $357.00 to $375.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Finally, Citigroup upped their price target on shares of Marathon Petroleum from $303.00 to $318.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. Twelve investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Marathon Petroleum presently has a consensus rating of "Moderate Buy" and a consensus price target of $322.44.

Insider Buying and Selling at Marathon Petroleum

In related news, SVP Shawn M. Lyon sold 1,000 shares of the business's stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $375.75, for a total value of $375,750.00. Following the completion of the sale, the senior vice president directly owned 11,194 shares in the company, valued at approximately $4,206,145.50. The trade was a 8.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Erin M. Brzezinski sold 570 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total value of $206,790.30. Following the sale, the vice president directly owned 1,576 shares in the company, valued at $571,757.04. This represents a 26.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 21,691 shares of company stock valued at $7,780,127 in the last quarter. Company insiders own 0.17% of the company's stock.

Marathon Petroleum Stock Performance

Shares of NYSE MPC opened at $389.86 on Monday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89. The firm has a market cap of $113.82 billion, a price-to-earnings ratio of 13.40, a P/E/G ratio of 0.25 and a beta of 0.53. The stock's fifty day moving average price is $322.31 and its two-hundred day moving average price is $266.96. Marathon Petroleum Corporation has a one year low of $161.93 and a one year high of $398.52.

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, topping analysts' consensus estimates of $14.27 by $3.46. The company had revenue of $51.99 billion during the quarter, compared to the consensus estimate of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The company's revenue was up 53.5% on a year-over-year basis. During the same quarter last year, the firm earned $3.96 earnings per share. On average, equities analysts forecast that Marathon Petroleum Corporation will post 47.23 EPS for the current year.

Marathon Petroleum Dividend Announcement

The firm 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 $1.00 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $4.00 annualized dividend and a yield of 1.0%. Marathon Petroleum's payout ratio is 13.75%.

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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