Global Strategic Investment Solutions LLC Buys New Position in Marathon Petroleum Corporation $MPC

Global Strategic Investment Solutions LLC purchased a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,184 shares of the oil and gas company’s stock, valued at approximately $558,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. bought a new stake in Marathon Petroleum in the 2nd quarter valued at $6,648,958,000. State Street Corp raised its position in shares of Marathon Petroleum by 0.3% during the fourth quarter. State Street Corp now owns 17,934,327 shares of the oil and gas company’s stock valued at $2,916,660,000 after buying an additional 47,896 shares during the last quarter. Boston Partners lifted its stake in shares of Marathon Petroleum by 2.3% in the third quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company’s stock valued at $1,214,522,000 after buying an additional 141,691 shares during the period. Bank of New York Mellon Corp acquired a new stake in Marathon Petroleum during the second quarter worth about $1,029,611,000. Finally, Norges Bank acquired a new stake in Marathon Petroleum during the fourth quarter worth about $472,312,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Buying and Selling

In other Marathon Petroleum news, SVP Shawn M. Lyon sold 2,500 shares of the company’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 directly owned 12,619 shares of the company’s stock, valued at $4,416,650. This represents a 16.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the transaction, the vice president directly owned 16,900 shares in the company, valued at approximately $4,543,058. This represents a 27.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.17% of the stock is currently owned by company insiders.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $366.79 on Wednesday. Marathon Petroleum Corporation has a 52 week low of $161.80 and a 52 week high of $367.24. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25. The stock has a market capitalization of $107.08 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 0.23 and a beta of 0.52. The firm has a fifty day moving average of $291.36 and a two-hundred day moving average of $250.88.

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, topping the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The business had revenue of $51.99 billion for the quarter, compared to analyst estimates of $40.87 billion. During the same quarter last year, the firm earned $3.96 EPS. Marathon Petroleum’s quarterly revenue was up 53.5% compared to the same quarter last year. As a group, equities research analysts predict that Marathon Petroleum Corporation will post 46.66 EPS for the current year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a dividend of $1.00 per share. 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 payout ratio is currently 13.75%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MPC. Wells Fargo & Company lifted their price objective on Marathon Petroleum from $344.00 to $359.00 and gave the stock an “overweight” rating in a report 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. Citigroup boosted their price target on shares of Marathon Petroleum from $303.00 to $318.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Wall Street Zen raised shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 10th. Finally, Zacks Research lowered Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 17th. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $312.50.

Marathon Petroleum 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.