Wealthfront Advisers LLC Purchases Shares of 97,615 Marathon Petroleum Corporation $MPC

Key Points

• Wealthfront Advisers acquired 97,615 Marathon Petroleum shares during the second quarter, valued at approximately $25.0 million. Institutional investors and hedge funds collectively own 76.77% of MPC.
• Marathon Petroleum reported quarterly EPS of $17.73, exceeding the $14.27 analyst consensus, while revenue rose 53.5% year over year to $51.99 billion.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and a $312.50 target price. The company also declared a quarterly dividend of $1.00 per share, equivalent to a 1.1% yield.

Wealthfront Advisers LLC acquired a new position in shares of 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 and Exchange Commission. The institutional investor acquired 97,615 shares of the oil and gas company's stock, valued at approximately $24,957,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Global Strategic Investment Solutions LLC purchased a new stake in Marathon Petroleum in the 2nd quarter valued at about $558,000. Foster & Motley Inc. bought a new stake in shares of Marathon Petroleum during the 2nd quarter worth $5,250,000. Strategic Wealth Advisors LLC purchased a new stake in Marathon Petroleum in the second quarter worth approximately $36,000. Main Street Financial Solutions LLC boosted its position in Marathon Petroleum by 9.4% during the second quarter. Main Street Financial Solutions LLC now owns 2,021 shares of the oil and gas company's stock valued at $517,000 after buying an additional 173 shares during the period. Finally, Aljian Capital Management LLC bought a new position in shares of Marathon Petroleum in the second quarter worth approximately $563,000. Institutional investors and hedge funds own 76.77% of the company's stock.

Insider Activity

In other Marathon Petroleum news, SVP Shawn M. Lyon sold 2,500 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $350.00, for a total value of $875,000.00. Following the sale, the senior vice president owned 12,619 shares in the company, valued at $4,416,650. This trade represents a 16.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum 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 sale, the vice president owned 16,900 shares of the company's stock, valued at $4,543,058. The trade was a 27.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.17% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on MPC. Morgan Stanley boosted their price objective on shares of Marathon Petroleum from $233.00 to $265.00 and gave the company an "overweight" rating in a research report on Friday, June 12th. Mizuho upped their price objective on Marathon Petroleum from $284.00 to $304.00 and gave the company a "neutral" rating in a research report on Tuesday, August 11th. Scotiabank boosted their price objective on shares of Marathon Petroleum from $174.00 to $210.00 and gave the company a "sector outperform" rating in a report on Wednesday, April 22nd. Bank of America upped their price objective on Marathon Petroleum from $224.00 to $260.00 in a research report on Tuesday, May 26th. Finally, Zacks Research downgraded shares of Marathon Petroleum from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 17th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Marathon Petroleum has an average rating of "Moderate Buy" and a consensus target price of $312.50.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $366.79 on Wednesday. Marathon Petroleum Corporation has a 1 year low of $161.80 and a 1 year high of $367.24. 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's 50 day simple moving average is $291.36 and its two-hundred day simple moving average is $250.88. The company has a market cap of $107.08 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 0.23 and a beta of 0.52.

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 EPS for the quarter, topping analysts' consensus estimates of $14.27 by $3.46. The business had revenue of $51.99 billion during the quarter, compared to analysts' expectations of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The business's revenue was up 53.5% on a year-over-year basis. During the same period last year, the company posted $3.96 EPS. As a group, equities analysts anticipate that Marathon Petroleum Corporation will post 46.66 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently disclosed 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 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 13.75%.

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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