Man Group plc Takes Position in Marathon Petroleum Corporation $MPC

Man Group plc acquired a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 293,849 shares of the oil and gas company’s stock, valued at approximately $75,128,000. Man Group plc owned approximately 0.10% of Marathon Petroleum as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MPC. Brighton Jones LLC grew its holdings in shares of Marathon Petroleum by 30.9% during the fourth quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock worth $696,000 after buying an additional 1,178 shares in the last quarter. Woodline Partners LP lifted its stake in Marathon Petroleum by 38.3% in the 1st quarter. Woodline Partners LP now owns 26,697 shares of the oil and gas company’s stock valued at $3,889,000 after acquiring an additional 7,396 shares in the last quarter. Sivia Capital Partners LLC lifted its stake in Marathon Petroleum by 26.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,221 shares of the oil and gas company’s stock valued at $369,000 after acquiring an additional 466 shares in the last quarter. Marshall Wace LLP acquired a new position in Marathon Petroleum during the 2nd quarter worth approximately $8,505,000. Finally, AXA S.A. grew its stake in shares of Marathon Petroleum by 46.7% during the 2nd quarter. AXA S.A. now owns 39,675 shares of the oil and gas company’s stock worth $6,590,000 after acquiring an additional 12,639 shares in the last quarter. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Trading Down 2.0%

Shares of Marathon Petroleum stock opened at $355.31 on Wednesday. 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 simple moving average of $301.58 and a two-hundred day simple moving average of $257.14. Marathon Petroleum Corporation has a 1 year low of $161.93 and a 1 year high of $367.60. The company has a market capitalization of $103.73 billion, a price-to-earnings ratio of 12.21, a P/E/G ratio of 0.23 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, beating 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 net margin of 5.48% and a return on equity of 31.96%. The company’s revenue was up 53.5% on a year-over-year basis. During the same period in the prior year, the firm earned $3.96 earnings per share. Research analysts forecast that Marathon Petroleum Corporation will post 46.66 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a $1.00 dividend. 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 dividend payout ratio is 13.75%.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the firm’s 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 sale, the vice president directly owned 16,900 shares in the company, 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 at this hyperlink. Also, insider Molly R. Benson sold 17,196 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $358.57, for a total value of $6,165,969.72. Following the sale, the insider owned 30,334 shares of the company’s stock, valued at approximately $10,876,862.38. This represents a 36.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 26,032 shares of company stock valued at $8,744,213 in the last three months. 0.17% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MPC. Zacks Research downgraded shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 17th. Barclays raised their target price on shares of Marathon Petroleum from $289.00 to $321.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Mizuho boosted their price target on shares of Marathon Petroleum from $284.00 to $304.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Evercore set a $330.00 price objective on shares of Marathon Petroleum in a research note on Wednesday, August 5th. Finally, Bank of America raised their price objective on Marathon Petroleum from $224.00 to $260.00 in a report on Tuesday, May 26th. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock 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.