Beverly Hills Private Wealth LLC Takes Position in Marathon Petroleum Corporation $MPC

Beverly Hills Private Wealth LLC acquired a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 5,107 shares of the oil and gas company’s stock, valued at approximately $1,306,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Pictet Asset Management Holding SA increased its position in shares of Marathon Petroleum by 31.0% in the first quarter. Pictet Asset Management Holding SA now owns 213,545 shares of the oil and gas company’s stock worth $52,146,000 after acquiring an additional 50,521 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in shares of Marathon Petroleum by 570.7% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 168,644 shares of the oil and gas company’s stock valued at $41,180,000 after acquiring an additional 143,500 shares in the last quarter. North Dakota State Investment Board acquired a new position in Marathon Petroleum in the 4th quarter worth approximately $1,714,000. ABC Arbitrage SA acquired a new stake in Marathon Petroleum during the 4th quarter valued at $4,977,000. Finally, Shepherd Street Advisors LLC acquired a new stake in Marathon Petroleum during the 4th quarter valued at $878,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MPC. TD Cowen lifted their price target on Marathon Petroleum from $357.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Zacks Research downgraded Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 17th. Scotiabank raised their price objective on Marathon Petroleum from $174.00 to $210.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 22nd. BMO Capital Markets reiterated an “outperform” rating on shares of Marathon Petroleum in a report on Friday, June 12th. Finally, 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. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Marathon Petroleum has a consensus rating of “Moderate Buy” and an average price target of $312.50.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $355.61 on Monday. The firm has a market cap of $103.82 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 0.23 and a beta of 0.52. Marathon Petroleum Corporation has a 1 year low of $160.87 and a 1 year high of $360.10. 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 business has a fifty day simple moving average of $287.31 and a 200 day simple moving average of $248.19.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, beating analysts’ consensus estimates of $14.27 by $3.46. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The firm had revenue of $51.99 billion for the quarter, compared to the consensus estimate of $40.87 billion. During the same quarter in the previous year, the company posted $3.96 earnings per share. The business’s quarterly revenue was up 53.5% compared to the same quarter last year. As a group, sell-side 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 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 of this dividend is Wednesday, August 19th. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. Marathon Petroleum’s payout ratio is presently 13.75%.

Insider Buying and Selling

In other Marathon Petroleum 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 completion of the sale, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Marathon Petroleum Company 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.