Vega Investment Solutions Takes $11.09 Million Position in Marathon Petroleum Corporation $MPC

Vega Investment Solutions purchased a new stake in Marathon Petroleum Corporation (NYSE:MPC) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 42,542 shares of the oil and gas company’s stock, valued at approximately $11,087,000. Marathon Petroleum comprises about 1.6% of Vega Investment Solutions’ portfolio, making the stock its 15th largest holding.

Several other large investors also recently added to or reduced their stakes in MPC. Solstein Capital LLC purchased a new position in shares of Marathon Petroleum in the 2nd quarter worth approximately $26,000. Bell Investment Advisors Inc bought a new position in shares of Marathon Petroleum during the 2nd quarter valued at approximately $27,000. Navalign LLC purchased a new stake in Marathon Petroleum during the 4th quarter valued at $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in Marathon Petroleum in the fourth quarter worth $31,000. Finally, Berbice Capital Management LLC boosted its stake in Marathon Petroleum by 100.0% during the fourth quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock worth $33,000 after buying an additional 100 shares during the period. 76.77% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Molly R. Benson sold 17,196 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $358.57, for a total value of $6,165,969.72. Following the transaction, the insider owned 30,334 shares of the company’s stock, valued at $10,876,862.38. This represents a 36.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Shawn M. Lyon sold 2,500 shares of the firm’s stock in a transaction 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 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 26,032 shares of company stock valued at $8,744,213 over the last quarter. 0.17% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MPC shares. 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 research report on Friday, June 12th. Jefferies Financial Group set a $335.00 price target on shares of Marathon Petroleum and gave the stock a “buy” rating in a research note on Sunday, July 12th. Mizuho upped 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. Barclays raised their price objective on shares of Marathon Petroleum from $289.00 to $321.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings upgraded Marathon Petroleum from a “hold (c+)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $312.50.

Marathon Petroleum Stock Up 0.4%

NYSE:MPC opened at $362.34 on Tuesday. The company has a market cap of $105.78 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52. Marathon Petroleum Corporation has a twelve month low of $161.93 and a twelve month high of $367.60. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19. The stock has a fifty day simple moving average of $299.48 and a 200-day simple moving average of $256.01.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, topping analysts’ consensus estimates of $14.27 by $3.46. The firm had revenue of $51.99 billion for 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 business’s revenue for the quarter was up 53.5% on a year-over-year basis. During the same period in the prior year, the business posted $3.96 earnings per share. Analysts anticipate that Marathon Petroleum Corporation will post 46.66 EPS for the current year.

Marathon Petroleum Dividend Announcement

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 issued a $1.00 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.1%. Marathon Petroleum’s payout ratio 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.