Nicholas Investment Partners LP Takes $2.71 Million Position in Marathon Petroleum Corporation $MPC

Nicholas Investment Partners LP bought a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC) in the 2nd quarter, Holdings Channel.com reports. The firm bought 10,600 shares of the oil and gas company’s stock, valued at approximately $2,710,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC boosted its holdings in 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 increased its holdings in shares of Marathon Petroleum by 38.3% in the first quarter. Woodline Partners LP now owns 26,697 shares of the oil and gas company’s stock valued at $3,889,000 after buying an additional 7,396 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Marathon Petroleum by 26.6% in the second quarter. Sivia Capital Partners LLC now owns 2,221 shares of the oil and gas company’s stock valued at $369,000 after buying an additional 466 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Marathon Petroleum during the 2nd quarter valued at $8,505,000. Finally, AXA S.A. boosted 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 currently owned by institutional investors.

Marathon Petroleum Stock Up 0.4%

Shares of Marathon Petroleum stock opened at $362.34 on Tuesday. Marathon Petroleum Corporation has a 1 year low of $161.93 and a 1 year high of $367.60. The company has a market cap of $105.78 billion, a P/E ratio of 12.46, a P/E/G ratio of 0.23 and a beta of 0.52. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19. The stock has a 50-day moving average price of $299.48 and a 200 day moving average price of $256.01.

Marathon Petroleum (NYSE:MPC) last released its earnings results 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 analysts’ expectations of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The business’s revenue for the quarter was up 53.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.96 EPS. As a group, analysts expect that Marathon Petroleum Corporation will post 46.66 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given 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 yield of 1.1%. Marathon Petroleum’s payout ratio is presently 13.75%.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, SVP Shawn M. Lyon sold 2,500 shares of Marathon Petroleum 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 of the company’s stock, valued at $4,416,650. This trade represents a 16.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction 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 transaction, the vice president owned 16,900 shares in the company, valued at approximately $4,543,058. This represents a 27.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 26,032 shares of company stock worth $8,744,213. 0.17% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

MPC has been the topic of a number of recent research reports. Raymond James Financial lifted their target price on Marathon Petroleum from $300.00 to $335.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. UBS Group reiterated a “buy” rating and issued a $321.00 price target on shares of Marathon Petroleum in a research report on Friday, July 10th. TD Cowen lifted their price target on Marathon Petroleum from $357.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Wall Street Zen raised shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. Finally, 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 report on Thursday, August 6th. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average target price of $312.50.

Marathon Petroleum 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.