one8zero8 LLC Buys New Position in Marathon Petroleum Corporation $MPC

one8zero8 LLC acquired a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 3,156 shares of the oil and gas company’s stock, valued at approximately $807,000.

A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in Marathon Petroleum in the second quarter worth $6,648,958,000. Bank of New York Mellon Corp bought a new stake in Marathon Petroleum during the second quarter worth about $1,029,611,000. Norges Bank bought a new stake in Marathon Petroleum during the fourth quarter worth about $472,312,000. Capital Wealth Planning LLC boosted its holdings in shares of Marathon Petroleum by 49,392.0% in the 4th quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock worth $245,157,000 after purchasing an additional 1,495,097 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of Marathon Petroleum by 3,816.8% in 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 purchasing an additional 1,273,386 shares in the last quarter. 76.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MPC has been the topic of a number of research reports. Piper Sandler raised their price objective on Marathon Petroleum from $343.00 to $344.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Wells Fargo & Company increased their price target on shares of Marathon Petroleum from $344.00 to $359.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Scotiabank lifted their price target on shares of Marathon Petroleum from $174.00 to $210.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. Zacks Research lowered shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 17th. Finally, Mizuho increased their target price on shares of Marathon Petroleum from $284.00 to $304.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Twelve equities research 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $312.50.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the firm’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 completion of the transaction, the vice president owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Shawn M. Lyon sold 2,500 shares of Marathon Petroleum 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 of the company’s stock, valued at $4,416,650. The trade was a 16.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.17% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $361.02 on Thursday. The firm has a market capitalization of $105.40 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 0.24 and a beta of 0.52. The stock has a fifty day moving average of $293.31 and a 200 day moving average of $252.19. Marathon Petroleum Corporation has a 52 week low of $161.93 and a 52 week high of $367.24. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19.

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 analysts’ consensus estimates of $14.27 by $3.46. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The firm had revenue of $51.99 billion for the quarter, compared to the consensus estimate of $40.87 billion. During the same quarter in the prior year, the business earned $3.96 EPS. The business’s revenue for the quarter was up 53.5% on a year-over-year basis. As a group, research analysts expect that Marathon Petroleum Corporation will post 46.66 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed 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 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 is 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.