UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 215,686 Shares of Marathon Petroleum Corporation $MPC

Key Points

• UBS AM increased its Marathon Petroleum stake by 16.7% in the second quarter, acquiring 215,686 shares and bringing its holdings to 1.51 million shares worth approximately $385.7 million. Institutional investors collectively own 76.77% of MPC.
• Marathon Petroleum reported strong quarterly results, with EPS of $17.73 versus the $14.27 consensus and revenue of $51.99 billion, up 53.5% year over year.
• The company declared a quarterly dividend of $1.00 per share, or $4.00 annualized, representing a 1.1% yield. Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $312.50.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 16.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,508,489 shares of the oil and gas company's stock after acquiring an additional 215,686 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.52% of Marathon Petroleum worth $385,675,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MPC. Solstein Capital LLC purchased a new stake in shares of Marathon Petroleum in the 2nd quarter worth approximately $26,000. Caitlin John LLC purchased a new position in Marathon Petroleum during the second quarter valued at approximately $26,000. Bell Investment Advisors Inc bought a new position in Marathon Petroleum in the second quarter worth approximately $27,000. Navalign LLC purchased a new stake in Marathon Petroleum during the fourth quarter worth $30,000. Finally, Berbice Capital Management LLC lifted its holdings in Marathon Petroleum by 100.0% during the fourth quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company's stock worth $33,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 76.77% of the company's stock.

Marathon Petroleum Stock Up 0.0%

Marathon Petroleum stock opened at $369.00 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 stock has a market capitalization of $107.72 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 0.24 and a beta of 0.52. Marathon Petroleum Corporation has a 1-year low of $161.93 and a 1-year high of $369.12. The business has a fifty day moving average price of $308.87 and a 200-day moving average price of $260.60.

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

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a dividend of $1.00 per share. The ex-dividend date is Wednesday, August 19th. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. Marathon Petroleum's dividend payout ratio is 13.75%.

Insider Activity at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total value of $1,703,243.52. Following the completion of the transaction, the vice president directly owned 16,900 shares of the company's stock, valued at $4,543,058. This trade represents a 27.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Shawn M. Lyon sold 2,500 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $350.00, for a total transaction of $875,000.00. Following the completion of the sale, the senior vice president owned 12,619 shares of the company's stock, valued at $4,416,650. This trade represents a 16.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 26,032 shares of company stock valued at $8,744,213 in the last three months. 0.17% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MPC. BMO Capital Markets reiterated an "outperform" rating on shares of Marathon Petroleum in a report on Friday, June 12th. UBS Group restated a "buy" rating and set a $321.00 price objective on shares of Marathon Petroleum in a research note on Friday, July 10th. Evercore set a $330.00 target price on Marathon Petroleum in a research note on Wednesday, August 5th. Raymond James Financial boosted their target price on shares of Marathon Petroleum from $300.00 to $335.00 and gave the stock an "outperform" rating in a report on Monday, July 13th. Finally, Piper Sandler increased their price target on shares of Marathon Petroleum from $343.00 to $344.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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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