Marathon Petroleum Corporation $MPC Shares Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC grew its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 5.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 84,153 shares of the oil and gas company’s stock after buying an additional 4,459 shares during the period. Concurrent Investment Advisors LLC’s holdings in Marathon Petroleum were worth $21,515,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB increased its position in Marathon Petroleum by 3.2% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,288 shares of the oil and gas company’s stock worth $329,000 after purchasing an additional 40 shares in the last quarter. Equitable Trust Co. lifted its holdings in Marathon Petroleum by 1.6% in the 1st quarter. Equitable Trust Co. now owns 2,637 shares of the oil and gas company’s stock valued at $644,000 after purchasing an additional 42 shares in the last quarter. Bartlett & CO. Wealth Management LLC lifted its holdings in Marathon Petroleum by 0.4% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 9,548 shares of the oil and gas company’s stock valued at $2,411,000 after purchasing an additional 42 shares in the last quarter. High Net Worth Advisory Group LLC boosted its stake in shares of Marathon Petroleum by 2.6% during the 2nd quarter. High Net Worth Advisory Group LLC now owns 1,636 shares of the oil and gas company’s stock worth $418,000 after purchasing an additional 42 shares during the last quarter. Finally, Wellington Grp LLC grew its holdings in shares of Marathon Petroleum by 9.6% during the first quarter. Wellington Grp LLC now owns 516 shares of the oil and gas company’s stock worth $126,000 after buying an additional 45 shares in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Trading Up 0.2%

Shares of MPC stock opened at $387.66 on Friday. The firm’s 50-day simple moving average is $319.58 and its 200-day simple moving average is $265.65. 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 1-year low of $161.93 and a 1-year high of $398.52. The firm has a market cap of $113.17 billion, a P/E ratio of 13.33, a PEG ratio of 0.25 and a beta of 0.53.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The firm had revenue of $51.99 billion during the quarter, compared to the consensus estimate of $40.87 billion. During the same period in the previous year, the firm earned $3.96 earnings per share. Marathon Petroleum’s revenue was up 53.5% compared to the same quarter last year. As a group, equities analysts forecast that Marathon Petroleum Corporation will post 46.66 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $4.00 annualized dividend and a dividend yield of 1.0%. Marathon Petroleum’s payout ratio is currently 13.75%.

Insider Transactions at Marathon Petroleum

In other news, VP Erin M. Brzezinski sold 570 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total transaction of $206,790.30. Following the completion of the sale, the vice president directly owned 1,576 shares in the company, valued at $571,757.04. This represents a 26.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Molly Benson sold 17,196 shares of the stock in a transaction 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 completion of the transaction, the insider directly owned 30,334 shares in the company, valued at $10,876,862.38. This trade represents a 36.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 21,691 shares of company stock worth $7,780,127 in the last ninety days. Insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MPC shares. Barclays boosted their price objective on shares of Marathon Petroleum from $289.00 to $321.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Bank of America raised their target price on shares of Marathon Petroleum from $224.00 to $260.00 in a research report on Tuesday, May 26th. The Goldman Sachs Group lifted their target price on shares of Marathon Petroleum from $291.00 to $376.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Zacks Research lowered Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 17th. Finally, Mizuho raised their price objective on Marathon Petroleum from $284.00 to $304.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $322.44.

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.