Corient Private Wealth LP Takes $39.09 Million Position in Marathon Petroleum Corporation $MPC

Corient Private Wealth LP acquired a new stake in Marathon Petroleum Corporation (NYSE:MPC) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 152,902 shares of the oil and gas company’s stock, valued at approximately $39,092,000.

A number of other institutional investors have also recently bought and sold shares of MPC. BlackRock Inc. bought a new stake in shares of Marathon Petroleum during the second quarter worth $6,648,958,000. State Street Corp lifted its position in Marathon Petroleum by 0.3% in the 4th 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 acquiring an additional 47,896 shares in the last quarter. Boston Partners lifted its position in Marathon Petroleum by 2.3% in the 3rd quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company’s stock valued at $1,214,522,000 after acquiring an additional 141,691 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Marathon Petroleum in the 2nd quarter worth $1,029,611,000. Finally, Norges Bank acquired a new position in Marathon Petroleum in the 4th quarter worth $472,312,000. Institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Morgan Stanley lifted their price target on Marathon Petroleum from $233.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. The Goldman Sachs Group boosted their price target on shares of Marathon Petroleum from $291.00 to $376.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Wall Street Zen upgraded Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 10th. Evercore set a $330.00 target price on Marathon Petroleum in a research report on Wednesday, August 5th. Finally, TD Cowen upped their target price on Marathon Petroleum from $357.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $312.50.

Insiders Place Their Bets

In other news, SVP Shawn M. Lyon sold 2,500 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $350.00, for a total transaction of $875,000.00. Following the completion of the sale, the senior vice president owned 12,619 shares in the company, valued at approximately $4,416,650. This trade represents a 16.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum 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 sale, the vice president directly owned 16,900 shares of the company’s stock, valued at $4,543,058. The trade was a 27.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 26,032 shares of company stock valued at $8,744,213 over the last ninety days. 0.17% of the stock is currently owned by company insiders.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $363.23 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. The business’s 50 day moving average price is $306.35 and its two-hundred day moving average price is $259.44. The company has a market cap of $106.04 billion, a PE ratio of 12.49, 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.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $14.27 by $3.46. The company had revenue of $51.99 billion during the quarter, compared to analysts’ expectations of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The business’s revenue was up 53.5% on a year-over-year basis. During the same period last year, the firm posted $3.96 earnings per share. On average, analysts predict that Marathon Petroleum Corporation will post 46.66 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued 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 yield of 1.1%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 13.75%.

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.