Marathon Petroleum Corporation $MPC Stock Position Boosted by CX Institutional

CX Institutional increased its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 142.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,497 shares of the oil and gas company’s stock after purchasing an additional 23,210 shares during the period. CX Institutional’s holdings in Marathon Petroleum were worth $15,618,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in MPC. BlackRock Inc. purchased a new stake in shares of Marathon Petroleum in the second quarter worth about $6,648,958,000. Bank of New York Mellon Corp acquired a new position in Marathon Petroleum during the 2nd quarter worth approximately $1,029,611,000. Bank of America Corp DE boosted its holdings in Marathon Petroleum by 1.6% in the 1st quarter. Bank of America Corp DE now owns 2,595,084 shares of the oil and gas company’s stock worth $633,668,000 after acquiring an additional 40,124 shares during the period. Amundi grew its position in Marathon Petroleum by 17.5% in the second quarter. Amundi now owns 2,237,930 shares of the oil and gas company’s stock valued at $572,172,000 after acquiring an additional 332,551 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Marathon Petroleum by 16.7% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,508,489 shares of the oil and gas company’s stock valued at $385,675,000 after acquiring an additional 215,686 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Stock Up 0.4%

Shares of MPC traded up $1.78 during midday trading on Friday, hitting $421.93. The company had a trading volume of 2,167,202 shares, compared to its average volume of 2,509,199. The company’s 50 day moving average price is $364.82 and its 200 day moving average price is $292.54. The stock has a market cap of $123.18 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 0.13 and a beta of 0.54. Marathon Petroleum Corporation has a 52 week low of $161.93 and a 52 week high of $431.08. 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 (NYSE:MPC) last issued its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, topping the consensus estimate of $14.27 by $3.46. The business had revenue of $51.99 billion for 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 company’s quarterly revenue was up 53.5% compared to the same quarter last year. During the same quarter last year, the company posted $3.96 earnings per share. On average, equities research analysts predict that Marathon Petroleum Corporation will post 59.15 EPS for the current year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders 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 yield of 0.9%. The ex-dividend date of this dividend was Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 13.75%.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, SVP Shawn M. Lyon sold 2,500 shares of the business’s stock in a transaction 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 completion of the sale, the senior vice president owned 12,619 shares in the company, valued at $4,416,650. The trade was a 16.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Erin M. Brzezinski sold 570 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $362.79, for a total transaction of $206,790.30. Following the completion of the transaction, the vice president owned 1,576 shares in the company, valued at approximately $571,757.04. The trade was a 26.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 21,691 shares of company stock worth $7,780,127. 0.17% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MPC. Weiss Ratings raised shares of Marathon Petroleum from a “hold (c+)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Marathon Petroleum in a report on Friday, June 12th. Raymond James Financial boosted their price objective on shares of Marathon Petroleum from $350.00 to $445.00 and gave the stock an “outperform” rating in a report on Monday, September 14th. Barclays upped their price objective 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. Finally, Morgan Stanley raised their target price on Marathon Petroleum from $265.00 to $453.00 and gave the company an “overweight” rating in a research note on Monday, September 14th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $370.38.

About Marathon Petroleum

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.