PCM Encore LLC Purchases New Holdings in Marathon Petroleum Corporation $MPC

PCM Encore LLC acquired a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC) in the second quarter, HoldingsChannel reports. The fund acquired 6,049 shares of the oil and gas company’s stock, valued at approximately $1,546,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Marathon Petroleum during the second quarter worth approximately $6,648,958,000. Bank of New York Mellon Corp acquired a new stake in Marathon Petroleum in the second quarter valued at $1,029,611,000. Norges Bank acquired a new stake in Marathon Petroleum in the fourth quarter valued at $472,312,000. Capital Wealth Planning LLC boosted its stake in Marathon Petroleum by 49,392.0% during the 4th 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 acquiring an additional 1,495,097 shares during the last quarter. Finally, Pacer Advisors Inc. grew its holdings in Marathon Petroleum by 3,816.8% during the 4th quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company’s stock worth $212,517,000 after acquiring an additional 1,273,386 shares in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Down 0.6%

Shares of NYSE:MPC opened at $358.71 on Friday. The stock has a market capitalization of $104.72 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52. Marathon Petroleum Corporation has a 1-year low of $161.93 and a 1-year high of $367.60. The company’s fifty day moving average is $295.27 and its two-hundred day moving average is $253.47. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25.

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, beating 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 during the quarter, compared to analyst estimates of $40.87 billion. During the same period in the previous year, the business posted $3.96 EPS. The company’s quarterly revenue was up 53.5% on a year-over-year basis. Equities analysts anticipate that Marathon Petroleum Corporation will post 46.66 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a $1.00 dividend. The ex-dividend date of this dividend 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%.

Analysts Set New Price Targets

MPC has been the subject of several research analyst reports. Jefferies Financial Group set a $335.00 target price on shares of Marathon Petroleum and gave the stock a “buy” rating in a research report on Sunday, July 12th. TD Cowen increased their price target on shares of Marathon Petroleum from $357.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Citigroup lifted their price target on Marathon Petroleum from $303.00 to $318.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Piper Sandler upped their price objective on Marathon Petroleum from $343.00 to $344.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Finally, Wells Fargo & Company increased their target price on Marathon Petroleum from $344.00 to $359.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus price target of $312.50.

Insider Buying and Selling

In other news, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction that occurred on 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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Shawn M. Lyon sold 2,500 shares of the firm’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 completion of the sale, the senior vice president directly owned 12,619 shares in the company, valued at approximately $4,416,650. This trade represents a 16.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.17% of the company’s stock.

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.