Pallas Capital Advisors LLC Invests $569,000 in Marathon Petroleum Corporation $MPC

Pallas Capital Advisors LLC acquired a new stake in Marathon Petroleum Corporation (NYSE:MPC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,224 shares of the oil and gas company’s stock, valued at approximately $569,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MPC. Bell Investment Advisors Inc bought a new position in shares of Marathon Petroleum in the second quarter worth about $27,000. Navalign LLC bought a new stake in Marathon Petroleum during the 4th quarter valued at about $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in Marathon Petroleum during the 4th quarter valued at about $31,000. Berbice Capital Management LLC boosted its position in Marathon Petroleum by 100.0% in the 4th quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 100 shares during the period. Finally, WFA of San Diego LLC bought a new position in Marathon Petroleum in the 2nd quarter worth about $33,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MPC shares. Zacks Research lowered shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 17th. Mizuho boosted their price target on Marathon Petroleum from $284.00 to $304.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Wells Fargo & Company increased their price objective on Marathon Petroleum from $344.00 to $359.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. BMO Capital Markets restated an “outperform” rating on shares of Marathon Petroleum in a report on Friday, June 12th. Finally, TD Cowen lifted their target price on Marathon Petroleum from $357.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Marathon Petroleum has an average 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 stock in a transaction dated 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 directly owned 12,619 shares of the company’s stock, valued at approximately $4,416,650. This represents a 16.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction dated 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 completion of the sale, the vice president owned 16,900 shares in the company, valued at $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. 0.17% of the stock is owned by insiders.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $361.02 on Thursday. The firm has a market cap of $105.40 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 0.24 and a beta of 0.52. Marathon Petroleum Corporation has a 52-week low of $161.93 and a 52-week high of $367.24. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. The company’s 50 day moving average is $293.31 and its 200 day moving average is $252.19.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, topping 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 company had revenue of $51.99 billion during the quarter, compared to analyst estimates of $40.87 billion. During the same quarter in the prior year, the business earned $3.96 earnings per share. Marathon Petroleum’s revenue was up 53.5% on a year-over-year basis. On average, sell-side analysts anticipate 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 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.