Succession Financial Inc. Acquires New Position in Marathon Petroleum Corporation $MPC

Key Points

• Succession Financial Inc. acquired 3,000 Marathon Petroleum shares worth approximately $767,000 in the second quarter, making MPC its 14th-largest holding. Institutional investors collectively own 76.77% of the company.
• Marathon Petroleum reported strong quarterly results, with EPS of $17.73 surpassing estimates of $14.27 and revenue rising 53.5% year over year to $51.99 billion.
• MPC shares recently traded near their 52-week high, while analysts maintained a generally positive outlook with a “Moderate Buy” consensus rating; the company also declared a quarterly dividend of $1.00 per share.

Succession Financial Inc. acquired a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,000 shares of the oil and gas company's stock, valued at approximately $767,000. Marathon Petroleum makes up about 0.7% of Succession Financial Inc.'s holdings, making the stock its 14th biggest holding.

A number of other large investors also recently bought and sold shares of the company. Markowski Investments acquired a new stake in shares of Marathon Petroleum during the 2nd quarter valued at approximately $76,000. Premier Path Wealth Partners LLC lifted its stake in Marathon Petroleum by 9.2% during the second quarter. Premier Path Wealth Partners LLC now owns 2,215 shares of the oil and gas company's stock worth $566,000 after purchasing an additional 187 shares during the last quarter. Concurrent Investment Advisors LLC boosted its holdings in Marathon Petroleum by 5.6% in the second quarter. Concurrent Investment Advisors LLC now owns 84,153 shares of the oil and gas company's stock worth $21,515,000 after purchasing an additional 4,459 shares during the period. NEOS Investment Management LLC boosted its holdings in Marathon Petroleum by 13.0% in the second quarter. NEOS Investment Management LLC now owns 48,445 shares of the oil and gas company's stock worth $12,386,000 after purchasing an additional 5,568 shares during the period. Finally, High Net Worth Advisory Group LLC increased its stake in Marathon Petroleum by 2.6% during the second quarter. High Net Worth Advisory Group LLC now owns 1,636 shares of the oil and gas company's stock valued at $418,000 after purchasing an additional 42 shares during the last quarter. Institutional investors own 76.77% of the company's stock.

Marathon Petroleum Trading Up 0.6%

Shares of MPC stock opened at $389.86 on Friday. Marathon Petroleum Corporation has a 1 year low of $161.93 and a 1 year high of $398.52. The firm has a market capitalization of $113.82 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 0.25 and a beta of 0.53. The stock has a fifty day moving average of $322.31 and a two-hundred day moving average of $266.52. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25.

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

Marathon Petroleum Announces Dividend

The business 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 dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $4.00 annualized dividend and a yield of 1.0%. Marathon Petroleum's dividend payout ratio (DPR) is presently 13.75%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. TD Cowen raised their price target on shares of Marathon Petroleum from $357.00 to $375.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Marathon Petroleum in a research report on Friday, June 12th. Mizuho increased their price objective on shares of Marathon Petroleum from $284.00 to $304.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 11th. Wells Fargo & Company raised their target price on shares of Marathon Petroleum from $359.00 to $400.00 and gave the stock an "overweight" rating in a report on Tuesday. Finally, 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. Twelve research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Marathon Petroleum currently has an average rating of "Moderate Buy" and a consensus price target of $322.44.

Insiders Place Their Bets

In other news, insider Molly R. Benson sold 17,196 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $358.57, for a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Shawn M. Lyon sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $375.75, for a total transaction of $375,750.00. Following the transaction, the senior vice president owned 11,194 shares in the company, valued at $4,206,145.50. This represents a 8.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 21,691 shares of company stock worth $7,780,127. 0.17% of the stock is owned by corporate insiders.

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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