Meeder Advisory Services Inc. Invests $3.19 Million in Marathon Petroleum Corporation $MPC

Meeder Advisory Services Inc. purchased a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC) in the second quarter, Holdings Channel.com reports. The fund purchased 12,462 shares of the oil and gas company’s stock, valued at approximately $3,186,000.

Other institutional investors have also recently bought and sold shares of the company. Bell Investment Advisors Inc acquired a new stake in shares of Marathon Petroleum in the second quarter valued at $27,000. Main Street Group LTD bought a new position in shares of Marathon Petroleum in the first quarter worth about $35,000. Cedar Mountain Advisors LLC acquired a new position in shares of Marathon Petroleum during the first quarter worth approximately $40,000. Navalign LLC bought a new stake in shares of Marathon Petroleum during the fourth quarter valued at approximately $30,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Marathon Petroleum in the fourth quarter valued at approximately $31,000. Institutional investors own 76.77% of the company’s stock.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the completion of the sale, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. This represents a 27.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Shawn M. Lyon sold 2,500 shares of Marathon Petroleum stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $350.00, for a total value of $875,000.00. Following the transaction, the senior vice president owned 12,619 shares in the company, valued at $4,416,650. This trade represents a 16.54% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.17% of the stock is currently owned by insiders.

Marathon Petroleum Stock Up 2.4%

Marathon Petroleum stock opened at $366.79 on Wednesday. The firm 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 company’s 50 day simple moving average is $291.36 and its 200 day simple moving average is $250.88. 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 fifty-two week low of $161.80 and a fifty-two week high of $367.24.

Marathon Petroleum (NYSE:MPC) last posted its earnings results 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. The company had revenue of $51.99 billion for the quarter, compared to analyst estimates of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The business’s revenue for the quarter was up 53.5% compared to the same quarter last year. During the same period last year, the business posted $3.96 earnings per share. As a group, sell-side 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 dividend of $1.00 per share. The ex-dividend date is Wednesday, August 19th. This represents a $4.00 annualized dividend and a yield of 1.1%. Marathon Petroleum’s payout ratio is currently 13.75%.

Analysts Set New Price Targets

A number of research analysts have commented on MPC shares. JPMorgan Chase & Co. increased their price objective on Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. Citigroup upped their price target on Marathon Petroleum from $303.00 to $318.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. TD Cowen boosted their price objective on Marathon Petroleum from $357.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Scotiabank raised their target price on shares of Marathon Petroleum from $174.00 to $210.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. Finally, Bank of America boosted their price target on shares of Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus price target of $312.50.

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.