Corient Private Wealth LP Buys Shares of 152,902 Marathon Petroleum Corporation $MPC

Corient Private Wealth LP bought a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 152,902 shares of the oil and gas company’s stock, valued at approximately $39,092,000. Corient Private Wealth LP owned 0.05% of Marathon Petroleum as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Perennial Investment Advisors LLC acquired a new position in shares of Marathon Petroleum during the 2nd quarter worth about $251,000. Philadelphia Investment Partners LLC acquired a new stake in Marathon Petroleum in the 2nd quarter worth $655,000. Pinnacle Family Advisors LLC acquired a new stake in Marathon Petroleum in the 2nd quarter worth $261,000. Ausdal Financial Partners Inc. bought a new position in shares of Marathon Petroleum during the 2nd quarter worth about $894,000. Finally, Bank of America Corp DE bought a new position in Marathon Petroleum during the second quarter valued at about $621,832,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Marathon Petroleum

In other news, SVP Shawn M. Lyon sold 2,500 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $350.00, for a total value of $875,000.00. Following the completion of the transaction, the senior vice president 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Molly R. Benson sold 17,196 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $358.57, for a total transaction of $6,165,969.72. Following the completion of the sale, the insider owned 30,334 shares of the company’s stock, valued at approximately $10,876,862.38. This represents a 36.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 26,032 shares of company stock valued at $8,744,213. Corporate insiders own 0.17% of the company’s stock.

Marathon Petroleum Stock Up 0.3%

Shares of NYSE:MPC opened at $363.23 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89. The stock has a market cap of $106.04 billion, a price-to-earnings ratio of 12.49, a P/E/G ratio of 0.23 and a beta of 0.52. The company has a 50 day moving average of $306.35 and a 200-day moving average of $259.44. Marathon Petroleum Corporation has a one year low of $161.93 and a one year high of $367.60.

Marathon Petroleum (NYSE:MPC) last announced 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 business had revenue of $51.99 billion for the quarter, compared to analyst estimates of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. Marathon Petroleum’s revenue was up 53.5% compared to the same quarter last year. During the same period in the prior year, the business posted $3.96 earnings per share. On average, sell-side analysts forecast that Marathon Petroleum Corporation will post 46.66 earnings per share for the current 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 given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 13.75%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MPC shares. Zacks Research cut shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 17th. The Goldman Sachs Group boosted their target price on shares of Marathon Petroleum from $291.00 to $376.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Jefferies Financial Group set a $335.00 price objective on shares of Marathon Petroleum and gave the stock a “buy” rating in a research note on Sunday, July 12th. Raymond James Financial raised their price target on Marathon Petroleum from $300.00 to $335.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Finally, Mizuho upped their price target on shares of Marathon Petroleum from $284.00 to $304.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $312.50.

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.