Great Lakes Advisors LLC Invests $1.65 Million in Marathon Petroleum Corporation $MPC

Great Lakes Advisors LLC acquired a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) in the second quarter, Holdings Channel reports. The firm acquired 6,444 shares of the oil and gas company’s stock, valued at approximately $1,648,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of Marathon Petroleum by 30.9% during the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock valued at $696,000 after purchasing an additional 1,178 shares during the last quarter. Woodline Partners LP raised its stake in Marathon Petroleum by 38.3% in the first quarter. Woodline Partners LP now owns 26,697 shares of the oil and gas company’s stock valued at $3,889,000 after buying an additional 7,396 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in Marathon Petroleum by 26.6% in the second quarter. Sivia Capital Partners LLC now owns 2,221 shares of the oil and gas company’s stock worth $369,000 after acquiring an additional 466 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Marathon Petroleum during the second quarter worth about $8,505,000. Finally, AXA S.A. increased its holdings in shares of Marathon Petroleum by 46.7% during the second quarter. AXA S.A. now owns 39,675 shares of the oil and gas company’s stock valued at $6,590,000 after acquiring an additional 12,639 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

MPC has been the subject of a number of recent analyst reports. Evercore set a $330.00 target price on shares of Marathon Petroleum in a research note on Wednesday, August 5th. Weiss Ratings upgraded shares of Marathon Petroleum from a “hold (c+)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Morgan Stanley boosted their price objective on shares of Marathon Petroleum from $233.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Mizuho raised their target price on Marathon Petroleum from $284.00 to $304.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Finally, Citigroup lifted their price target on Marathon Petroleum from $303.00 to $318.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $312.50.

Marathon Petroleum Trading Up 1.1%

Marathon Petroleum stock opened at $362.18 on Friday. The firm has a market cap of $105.73 billion, a PE ratio of 12.45, a P/E/G ratio of 0.23 and a beta of 0.52. Marathon Petroleum Corporation has a 12 month low of $161.93 and a 12 month high of $367.60. The stock’s 50 day simple moving average is $297.25 and its two-hundred day simple moving average is $254.23. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19.

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 analysts’ consensus estimates of $14.27 by $3.46. The company had revenue of $51.99 billion during the quarter, compared to analysts’ expectations of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The firm’s revenue for the quarter was up 53.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.96 earnings per share. Analysts anticipate that Marathon Petroleum Corporation will post 46.66 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 13.75%.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum 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 in the company, valued at $4,416,650. The trade was a 16.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction 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 owned 16,900 shares in the company, valued at approximately $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.17% of the company’s stock.

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.