Railway Pension Investments Ltd Invests $3.89 Million in Marathon Petroleum Corporation $MPC

Railway Pension Investments Ltd 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 and Exchange Commission. The fund bought 15,200 shares of the oil and gas company’s stock, valued at approximately $3,886,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. bought a new stake in Marathon Petroleum in the second quarter valued at about $6,648,958,000. Bank of New York Mellon Corp acquired a new stake in shares of Marathon Petroleum in the 2nd quarter valued at approximately $1,029,611,000. Norges Bank bought a new position in Marathon Petroleum during the 4th quarter worth approximately $472,312,000. Bank of America Corp DE acquired a new position in Marathon Petroleum during the second quarter valued at approximately $621,832,000. Finally, Capital Wealth Planning LLC increased its stake in Marathon Petroleum by 49,392.0% in the fourth quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock valued at $245,157,000 after purchasing an additional 1,495,097 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Trading Up 1.5%

Marathon Petroleum stock opened at $374.48 on Tuesday. The company has a market cap of $109.33 billion, a price-to-earnings ratio of 12.87, a P/E/G ratio of 0.24 and a beta of 0.52. The firm has a 50-day moving average of $311.41 and a 200-day moving average of $261.80. 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 Corporation has a one year low of $161.93 and a one year high of $376.56.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, beating 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 firm had revenue of $51.99 billion during the quarter, compared to analysts’ expectations of $40.87 billion. During the same period in the prior year, the firm posted $3.96 earnings per share. The business’s quarterly revenue was up 53.5% compared to the same quarter last year. On average, equities analysts expect 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. Shareholders 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 yield of 1.1%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 13.75%.

Insider Activity

In other Marathon Petroleum news, SVP Shawn M. Lyon sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $350.00, for a total value of $875,000.00. Following the sale, the senior vice president owned 12,619 shares in the company, valued at $4,416,650. This represents a 16.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Molly R. Benson sold 17,196 shares of Marathon Petroleum stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $358.57, for a total transaction of $6,165,969.72. Following the sale, the insider directly owned 30,334 shares of the company’s stock, valued at $10,876,862.38. The trade was a 36.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 26,602 shares of company stock valued at $8,951,004 in the last 90 days. 0.17% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MPC shares. Mizuho boosted their price target on shares of Marathon Petroleum from $284.00 to $304.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Zacks Research cut Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 17th. Bank of America raised their target price on shares of Marathon Petroleum from $224.00 to $260.00 in a report on Tuesday, May 26th. Weiss Ratings upgraded shares of Marathon Petroleum from a “hold (c+)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. Finally, Piper Sandler raised their price objective on shares of Marathon Petroleum from $343.00 to $344.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and a consensus price target of $312.50.

About Marathon Petroleum

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.