Vista Investment Management Purchases New Position in Marathon Petroleum Corporation $MPC
by Renee Jackson · The Cerbat GemVista Investment Management purchased a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC – Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,888 shares of the oil and gas company’s stock, valued at approximately $738,000.
Several other institutional investors and hedge funds have also bought and sold shares of MPC. BlackRock Inc. bought a new stake in shares of Marathon Petroleum in the 2nd quarter worth approximately $6,648,958,000. State Street Corp raised its holdings in shares of Marathon Petroleum by 0.3% during the fourth quarter. State Street Corp now owns 17,934,327 shares of the oil and gas company’s stock valued at $2,916,660,000 after acquiring an additional 47,896 shares in the last quarter. Boston Partners raised its holdings in shares of Marathon Petroleum by 2.3% during the third quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company’s stock valued at $1,214,522,000 after acquiring an additional 141,691 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Marathon Petroleum in the second quarter worth $1,029,611,000. Finally, Norges Bank bought a new stake in Marathon Petroleum in the fourth quarter valued at $472,312,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.
Insider Activity at Marathon Petroleum
In other news, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction that occurred on 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 transaction, the vice president directly owned 16,900 shares in the company, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Shawn M. Lyon sold 2,500 shares of the business’s stock in a transaction that occurred 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 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 currently owned by company insiders.
Marathon Petroleum Stock Up 1.1%
NYSE:MPC opened at $362.18 on Friday. The firm’s 50-day moving average price is $297.25 and its 200-day moving average price is $254.23. The company has a market capitalization of $105.73 billion, a PE ratio of 12.45, a P/E/G ratio of 0.23 and a beta of 0.52. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89. Marathon Petroleum Corporation has a 1-year low of $161.93 and a 1-year high of $367.60.
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 earnings per share (EPS) for the quarter, beating 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 company had revenue of $51.99 billion during the quarter, compared to analysts’ expectations of $40.87 billion. During the same period last year, the company posted $3.96 EPS. Marathon Petroleum’s revenue was up 53.5% on a year-over-year basis. On average, equities analysts predict that Marathon Petroleum Corporation will post 46.66 EPS for the current fiscal year.
Marathon Petroleum Dividend Announcement
The firm 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 dividend on an annualized basis and a dividend yield of 1.1%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 13.75%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on MPC shares. Mizuho lifted their target price on shares of Marathon Petroleum from $284.00 to $304.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Jefferies Financial Group set a $335.00 price target on shares of Marathon Petroleum and gave the stock a “buy” rating in a research note on Sunday, July 12th. BMO Capital Markets restated an “outperform” rating on shares of Marathon Petroleum in a report on Friday, June 12th. UBS Group reaffirmed a “buy” rating and set a $321.00 price objective on shares of Marathon Petroleum in a research report on Friday, July 10th. Finally, Morgan Stanley upped their target price on Marathon Petroleum from $233.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $312.50.
Read Our Latest Research Report on MPC
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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