Diversify Advisory Services LLC Purchases Shares of 6,766 Marathon Petroleum Corporation $MPC

Diversify Advisory Services LLC acquired a new stake in Marathon Petroleum Corporation (NYSE:MPC) during the 2nd quarter, Holdings Channel reports. The firm acquired 6,766 shares of the oil and gas company’s stock, valued at approximately $2,113,000.

Several other institutional investors have also recently made changes to their positions in the business. Pictet Asset Management Holding SA boosted its stake in Marathon Petroleum by 31.0% in the 1st quarter. Pictet Asset Management Holding SA now owns 213,545 shares of the oil and gas company’s stock worth $52,146,000 after purchasing an additional 50,521 shares during the period. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Marathon Petroleum by 570.7% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 168,644 shares of the oil and gas company’s stock worth $41,180,000 after buying an additional 143,500 shares in the last quarter. North Dakota State Investment Board bought a new position in shares of Marathon Petroleum during the fourth quarter worth $1,714,000. ABC Arbitrage SA purchased a new position in Marathon Petroleum during the fourth quarter valued at $4,977,000. Finally, Shepherd Street Advisors LLC bought a new stake in Marathon Petroleum in the 4th quarter valued at $878,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Up 2.4%

Shares of MPC stock opened at $366.79 on Wednesday. The company has a market cap of $107.08 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52. The stock’s 50 day simple moving average is $291.36 and its two-hundred day simple moving average is $250.88. Marathon Petroleum Corporation has a 1 year low of $161.80 and a 1 year high of $367.24. 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 (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 business had revenue of $51.99 billion during 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 company’s revenue for the quarter was up 53.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.96 earnings per share. Research analysts predict that Marathon Petroleum Corporation will post 46.66 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders 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 is presently 13.75%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Marathon Petroleum from $235.00 to $257.00 in a research note on Wednesday, May 6th. Citigroup raised their price objective on Marathon Petroleum from $303.00 to $318.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Wells Fargo & Company lifted 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. Raymond James Financial increased their price target on Marathon Petroleum from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Finally, Barclays raised their price target on Marathon Petroleum from $289.00 to $321.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $312.50.

Insider Buying and Selling

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

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.