Marathon Petroleum Corporation $MPC Shares Purchased by CX Institutional

by · The Markets Daily

CX Institutional boosted its stake in Marathon Petroleum Corporation (NYSE:MPC – Free Report) by 142.5% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 39,497 shares of the oil and gas company’s stock after buying an additional 23,210 shares during the quarter. CX Institutional’s holdings in Marathon Petroleum were worth $15,618,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Versant Capital Management Inc lifted its position in shares of Marathon Petroleum by 4.8% in the third quarter. Versant Capital Management Inc now owns 1,708 shares of the oil and gas company’s stock valued at $675,000 after acquiring an additional 78 shares in the last quarter. Montecito Bank & Trust purchased a new stake in Marathon Petroleum during the 3rd quarter worth about $301,000. Greenwich Wealth Management LLC acquired a new position in Marathon Petroleum in the 2nd quarter valued at about $202,000. QRG Capital Management Inc. lifted its holdings in Marathon Petroleum by 8.4% in the 2nd quarter. QRG Capital Management Inc. now owns 19,518 shares of the oil and gas company’s stock valued at $4,990,000 after purchasing an additional 1,517 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in Marathon Petroleum by 42.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 4,096 shares of the oil and gas company’s stock valued at $1,047,000 after purchasing an additional 1,222 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Transactions at Marathon Petroleum

In related news, VP Erin M. Brzezinski sold 570 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total value of $206,790.30. Following the transaction, the vice president directly owned 1,576 shares of the company’s stock, valued at approximately $571,757.04. This trade represents a 26.56% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Molly Benson sold 17,196 shares of Marathon Petroleum stock in a transaction 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 owned 30,334 shares in the company, valued at $10,876,862.38. The trade was a 36.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 21,691 shares of company stock worth $7,780,127 in the last ninety days. Insiders own 0.17% of the company’s stock.

Marathon Petroleum Trading Up 0.4%

Shares of MPC stock traded up $1.78 during trading hours on Friday, hitting $421.93. 2,167,202 shares of the company were exchanged, compared to its average volume of 2,509,199. The firm has a fifty day moving average of $364.82 and a 200 day moving average of $292.54. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. Marathon Petroleum Corporation has a 1 year low of $161.93 and a 1 year high of $431.08. The firm has a market cap of $123.18 billion, a PE ratio of 14.50, a PEG ratio of 0.13 and a beta of 0.54.

Marathon Petroleum (NYSE:MPC – Get Free Report) last released its 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. The firm had revenue of $51.99 billion during the quarter, compared to the consensus estimate of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. Marathon Petroleum’s revenue was up 53.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.96 earnings per share. Analysts expect that Marathon Petroleum Corporation will post 59.15 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio is presently 13.75%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MPC shares. UBS Group reiterated a “buy” rating on shares of Marathon Petroleum in a report on Thursday. Zacks Research upgraded shares of Marathon Petroleum from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 4th. TD Cowen lifted their target price on shares of Marathon Petroleum from $357.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Evercore set a $330.00 price target on Marathon Petroleum in a report on Wednesday, August 5th. Finally, Mizuho increased their price target on Marathon Petroleum from $284.00 to $304.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $370.38.

Get Our Latest Analysis on MPC

Marathon Petroleum Company Profile

(Free Report)

Marathon Petroleum Corporation (NYSE:MPC) is an integrated downstream energy company engaged primarily in refining, marketing and transporting petroleum products. The company converts crude oil and other feedstocks into gasoline, diesel, jet fuel, asphalt, propane and other refined products used by consumers, businesses and industrial customers.

Marathon Petroleum operates refineries and related logistics assets in the United States, with a refining and marketing presence serving markets across the Midwest, Gulf Coast and West Coast.

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