Invst LLC Purchases Shares of 3,867 Marathon Petroleum Corporation $MPC

Invst LLC acquired a new stake in Marathon Petroleum Corporation (NYSE:MPC) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 3,867 shares of the oil and gas company’s stock, valued at approximately $989,000.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new stake in Marathon Petroleum in the 2nd quarter valued at $6,648,958,000. Bank of New York Mellon Corp acquired a new stake in Marathon Petroleum during the 2nd quarter valued at $1,029,611,000. Norges Bank bought a new position in Marathon Petroleum during the fourth quarter worth $472,312,000. Capital Wealth Planning LLC increased its holdings in shares of Marathon Petroleum by 49,392.0% in the fourth quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock valued at $245,157,000 after purchasing an additional 1,495,097 shares during the last quarter. Finally, Legal & General Group Plc acquired a new position in shares of Marathon Petroleum in the second quarter valued at $380,745,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $355.31 on Wednesday. The stock has a market capitalization of $103.73 billion, a PE ratio of 12.21, 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. The business has a fifty day moving average price of $301.58 and a two-hundred day moving average price of $257.14. Marathon Petroleum Corporation has a fifty-two week low of $161.93 and a fifty-two week high of $367.60.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, topping 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%.Marathon Petroleum’s quarterly revenue was up 53.5% on a year-over-year basis. During the same period in the prior year, the firm posted $3.96 EPS. As a group, equities analysts predict that Marathon Petroleum Corporation will post 46.66 earnings per share for the current fiscal 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 issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 13.75%.

Insider Activity

In related 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 value of $1,703,243.52. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Shawn M. Lyon sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $350.00, for a total transaction of $875,000.00. Following the transaction, the senior vice president owned 12,619 shares of the company’s stock, valued at approximately $4,416,650. This represents a 16.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 26,032 shares of company stock worth $8,744,213. 0.17% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Piper Sandler raised their target price on shares of Marathon Petroleum from $343.00 to $344.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Wall Street Zen upgraded shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. Raymond James Financial increased their price target on shares of Marathon Petroleum from $300.00 to $335.00 and gave the company an “outperform” rating in a report on Monday, July 13th. BMO Capital Markets reissued an “outperform” rating on shares of Marathon Petroleum in a report on Friday, June 12th. Finally, The Goldman Sachs Group boosted their target price on shares of Marathon Petroleum from $291.00 to $376.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Marathon Petroleum presently has an average rating of “Moderate Buy” and an average target price 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.