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

Vega Investment Solutions acquired a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC) during the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 42,542 shares of the oil and gas company’s stock, valued at approximately $11,087,000. Marathon Petroleum makes up 1.6% of Vega Investment Solutions’ portfolio, making the stock its 15th biggest holding.

A number of other large investors also recently bought and sold shares of the business. Solstein Capital LLC purchased a new stake in Marathon Petroleum during the second quarter worth $26,000. Bell Investment Advisors Inc purchased a new position in shares of Marathon Petroleum in the 2nd quarter valued at $27,000. Cetera Trust Company N.A purchased a new position in shares of Marathon Petroleum in the 2nd quarter valued at $35,000. Frazier Financial Advisors LLC bought a new position in shares of Marathon Petroleum in the 2nd quarter worth $36,000. Finally, Main Street Group LTD purchased a new stake in shares of Marathon Petroleum during the 1st quarter worth $35,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Up 0.4%

Shares of MPC stock opened at $362.34 on Tuesday. Marathon Petroleum Corporation has a 1-year low of $161.93 and a 1-year high of $367.60. The stock’s fifty day moving average price is $299.48 and its 200 day moving average price is $256.01. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89. 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 (NYSE:MPC) last announced its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $14.27 by $3.46. The company had revenue of $51.99 billion for the quarter, compared to analyst estimates of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The firm’s quarterly revenue was up 53.5% compared to the same quarter last year. During the same period in the prior year, the company posted $3.96 EPS. On average, research analysts expect that Marathon Petroleum Corporation will post 46.66 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MPC shares. Piper Sandler raised their price objective on Marathon Petroleum from $343.00 to $344.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Weiss Ratings upgraded shares of Marathon Petroleum from a “hold (c+)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. Evercore set a $330.00 price target on shares of Marathon Petroleum in a report on Wednesday, August 5th. Jefferies Financial Group set a $335.00 price objective on shares of Marathon Petroleum and gave the stock a “buy” rating in a research report on Sunday, July 12th. Finally, Morgan Stanley boosted their price objective on shares of Marathon Petroleum from $233.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $312.50.

Insider Buying and Selling

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the sale, the vice president owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. The trade was a 27.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Shawn M. Lyon sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $350.00, for a total transaction 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 26,032 shares of company stock worth $8,744,213 in the last three months. Corporate insiders own 0.17% of the company’s stock.

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.