1,617 Shares in Marathon Petroleum Corporation $MPC Purchased by Range Advisory LLC

Range Advisory LLC purchased a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 1,617 shares of the oil and gas company’s stock, valued at approximately $413,000.

Several other large investors have also recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its holdings in shares of Marathon Petroleum by 36,834.6% during the 2nd quarter. California State Teachers Retirement System now owns 128,810,637 shares of the oil and gas company’s stock worth $32,933,016,000 after purchasing an additional 128,461,884 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Marathon Petroleum in the second quarter valued at $6,648,958,000. Bank of New York Mellon Corp acquired a new position in shares of Marathon Petroleum in the second quarter valued at $1,029,611,000. Norges Bank bought a new position in Marathon Petroleum in the fourth quarter worth $472,312,000. Finally, Bank of America Corp DE acquired a new stake in Marathon Petroleum during the second quarter worth $621,832,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on MPC shares. Evercore set a $330.00 price target on shares of Marathon Petroleum in a report on Wednesday, August 5th. Mizuho raised their price objective on shares of Marathon Petroleum from $284.00 to $304.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Wells Fargo & Company lifted their target price on shares of Marathon Petroleum from $359.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday, September 1st. TD Cowen upped their target price on shares of Marathon Petroleum from $357.00 to $375.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, The Goldman Sachs Group increased their price target on shares of Marathon Petroleum from $291.00 to $376.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $330.50.

Insider Activity at Marathon Petroleum

In other news, SVP Shawn M. Lyon sold 2,500 shares of the company’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 directly owned 12,619 shares in the company, valued at approximately $4,416,650. This represents a 16.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Erin M. Brzezinski sold 570 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $362.79, for a total transaction of $206,790.30. Following the sale, the vice president directly owned 1,576 shares in the company, valued at $571,757.04. This trade represents a 26.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 21,691 shares of company stock valued at $7,780,127 over the last ninety days. 0.17% of the stock is owned by insiders.

Marathon Petroleum Stock Performance

Marathon Petroleum stock opened at $398.72 on Wednesday. The firm has a market capitalization of $116.40 billion, a P/E ratio of 13.71, a P/E/G ratio of 0.25 and a beta of 0.53. The stock has a fifty day moving average price of $327.79 and a two-hundred day moving average price of $269.70. Marathon Petroleum Corporation has a 52-week low of $161.93 and a 52-week high of $399.62. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89.

Marathon Petroleum (NYSE:MPC) last announced its 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. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The business had revenue of $51.99 billion for the quarter, compared to the consensus estimate of $40.87 billion. During the same period in the previous year, the business earned $3.96 EPS. Marathon Petroleum’s revenue was up 53.5% compared to the same quarter last year. As a group, analysts anticipate that Marathon Petroleum Corporation will post 47.23 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders 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 dividend yield of 1.0%. Marathon Petroleum’s dividend payout ratio (DPR) is 13.75%.

Trending Headlines about Marathon Petroleum

Here are the key news stories impacting Marathon Petroleum this week:

• Positive Sentiment: Record-high crack spreads and strong refining margins are supporting MPC’s earnings outlook. Rising earnings estimates have helped Zacks identify the company as a “Bull of the Day” and a strong momentum stock. Marathon Petroleum and Campbell’s highlighted as Zacks Bull and Bear of the Day
• Positive Sentiment: Analyst support is reinforcing the rally. UBS reportedly raised its view on MPC, while Wells Fargo has maintained a constructive outlook and expects further gains despite concerns that the stock’s sharp advance could lead to a valuation pullback. MPC Gets a UBS Raise While Refiners Keep Cashing In
• Positive Sentiment: Escalating tensions involving Iran and threats to U.S. energy assets in the Gulf pushed crude oil above $91 per barrel and prompted money to rotate into energy-related stocks. Higher oil prices and geopolitical risk can support refining-sector sentiment, although the effect on MPC’s margins may depend on how product prices and crude costs move relative to one another. Iran Just Raised the Stakes in the Gulf—These 5 Stocks Stand to Benefit
• Neutral Sentiment: MPC has become a heavily searched and widely discussed stock on Zacks, with its momentum and “Strong Buy” characteristics attracting additional investor attention. This may increase near-term demand but does not itself change the company’s fundamentals. Why Marathon Petroleum is a Strong Momentum Stock

Marathon Petroleum Profile

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 and other transportation fuels, as well as asphalt, propane, petrochemical feedstocks and related products.

Marathon Petroleum operates a network of refineries in the United States and markets refined products through wholesale channels, branded retail locations and commercial customers.