Geneva Partners LLC Purchases Shares of 22,279 Marathon Petroleum Corporation $MPC

Geneva Partners LLC purchased a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC) in the 2nd quarter, Holdings Channel reports. The fund purchased 22,279 shares of the oil and gas company’s stock, valued at approximately $5,696,000. Marathon Petroleum accounts for about 1.5% of Geneva Partners LLC’s holdings, making the stock its 27th largest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Energy Income Partners LLC acquired a new stake in Marathon Petroleum during the 2nd quarter worth approximately $4,912,000. Pictet Asset Management Holding SA grew its holdings in Marathon Petroleum by 31.0% in the 1st quarter. Pictet Asset Management Holding SA now owns 213,545 shares of the oil and gas company’s stock valued at $52,146,000 after buying an additional 50,521 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in 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 buying an additional 143,500 shares in the last quarter. North Dakota State Investment Board bought a new position in Marathon Petroleum during the 4th quarter worth $1,714,000. Finally, ABC Arbitrage SA acquired a new stake in shares of Marathon Petroleum during the fourth quarter worth $4,977,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Jefferies Financial Group set a $335.00 price target on shares of Marathon Petroleum and gave the stock a “buy” rating in a research report on Sunday, July 12th. Weiss Ratings raised shares of Marathon Petroleum from a “hold (c+)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. Piper Sandler increased their target price on shares of Marathon Petroleum from $343.00 to $344.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Citigroup raised their target price on shares of Marathon Petroleum from $303.00 to $318.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Finally, TD Cowen lifted their price target on shares of Marathon Petroleum from $357.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $312.50.

Insider Activity

In other Marathon Petroleum news, SVP Shawn M. Lyon sold 2,500 shares of the business’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 sale, the senior vice president directly owned 12,619 shares of the company’s stock, valued at $4,416,650. The trade was a 16.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Michael A. Henschen II sold 6,336 shares of the firm’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 directly owned 16,900 shares of the company’s stock, valued at $4,543,058. The trade was a 27.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.17% of the company’s stock.

Marathon Petroleum Stock Down 1.4%

Shares of NYSE:MPC opened at $361.02 on Thursday. Marathon Petroleum Corporation has a 52-week low of $161.93 and a 52-week high of $367.24. The company has a market capitalization of $105.40 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 0.24 and a beta of 0.52. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25. The company has a fifty day moving average of $293.31 and a 200-day moving average of $252.19.

Marathon Petroleum (NYSE:MPC) last released 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 the consensus estimate of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.Marathon Petroleum’s revenue for the quarter was up 53.5% on a year-over-year basis. During the same quarter last year, the business posted $3.96 EPS. On average, equities analysts predict that Marathon Petroleum Corporation will post 46.66 EPS 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. Stockholders of record on Wednesday, August 19th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 13.75%.

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.