Vise Technologies Inc. Makes New Investment in Marathon Petroleum Corporation $MPC

Key Points

• Vise Technologies purchased 20,628 Marathon Petroleum shares worth approximately $5.27 million in the second quarter. Other institutional investors also initiated positions, with institutions and hedge funds owning 76.77% of MPC stock.
• Marathon Petroleum reported strong quarterly results, earning $17.73 per share versus the $14.27 analyst consensus, while revenue rose 53.5% year over year to $51.99 billion.
• The company announced 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.

Vise Technologies Inc. purchased a new position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 20,628 shares of the oil and gas company's stock, valued at approximately $5,274,000.

Several other institutional investors have also made changes to their positions in the company. E Fund Management Co. Ltd. acquired a new position in Marathon Petroleum in the second quarter worth approximately $267,000. MSH Capital Advisors LLC acquired a new stake in Marathon Petroleum in the second quarter valued at approximately $469,000. Live Oak Investment Partners acquired a new stake in Marathon Petroleum in the second quarter valued at approximately $707,000. Frazier Financial Advisors LLC bought a new stake in Marathon Petroleum in the second quarter worth approximately $36,000. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in Marathon Petroleum in the second quarter worth approximately $226,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Trading Down 0.6%

NYSE:MPC opened at $358.71 on Friday. Marathon Petroleum Corporation has a 12 month low of $161.93 and a 12 month high of $367.60. The firm has a market cap of $104.72 billion, a price-to-earnings ratio of 12.33, a P/E/G ratio of 0.23 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. The company's 50 day moving average is $295.27 and its 200-day moving average is $253.47.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued 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 net margin of 5.48% and a return on equity of 31.96%. The business had revenue of $51.99 billion during the quarter, compared to analysts' expectations of $40.87 billion. During the same period in the previous year, the company earned $3.96 earnings per share. Marathon Petroleum's revenue for the quarter was up 53.5% on a year-over-year basis. Equities analysts anticipate that Marathon Petroleum Corporation will post 46.66 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be given a dividend of $1.00 per share. 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%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on MPC shares. TD Cowen raised 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. BMO Capital Markets reiterated an "outperform" rating on shares of Marathon Petroleum in a report on Friday, June 12th. Piper Sandler increased their target price on shares of Marathon Petroleum from $343.00 to $344.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Citigroup raised their target price on Marathon Petroleum from $303.00 to $318.00 and gave the company a "neutral" rating in a report on Wednesday, August 5th. Finally, UBS Group reaffirmed a "buy" rating and issued a $321.00 price target on shares of Marathon Petroleum in a research report on Friday, July 10th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned 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.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the company's stock in a transaction dated 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 completion of the sale, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. This represents a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Shawn M. Lyon sold 2,500 shares of the firm's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $350.00, for a total value of $875,000.00. Following the completion of the sale, the senior vice president directly owned 12,619 shares in the company, valued at approximately $4,416,650. This represents a 16.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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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