Citizens Financial Group Inc. RI Purchases New Stake in Marathon Petroleum Corporation $MPC

Citizens Financial Group Inc. RI acquired a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,394 shares of the oil and gas company’s stock, valued at approximately $1,635,000.

A number of other large investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Marathon Petroleum in the 2nd quarter valued at approximately $6,648,958,000. Bank of New York Mellon Corp bought a new stake in shares of Marathon Petroleum during the 2nd quarter worth approximately $1,029,611,000. Norges Bank acquired a new stake in shares of Marathon Petroleum during the 4th quarter worth approximately $472,312,000. Capital Wealth Planning LLC increased its stake in Marathon Petroleum by 49,392.0% in the fourth quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock valued at $245,157,000 after acquiring an additional 1,495,097 shares during the last quarter. Finally, Pacer Advisors Inc. increased its stake in Marathon Petroleum by 3,816.8% in the fourth quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company’s stock valued at $212,517,000 after acquiring an additional 1,273,386 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MPC has been the subject of several research analyst reports. Citigroup upped their target price on Marathon Petroleum from $303.00 to $318.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Scotiabank lifted their price target on Marathon Petroleum from $174.00 to $210.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. Jefferies Financial Group set a $335.00 price target on Marathon Petroleum and gave the stock a “buy” rating in a report on Sunday, July 12th. JPMorgan Chase & Co. boosted their price target on Marathon Petroleum from $235.00 to $257.00 in a report on Wednesday, May 6th. Finally, Wall Street Zen upgraded Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $312.50.

Insider Buying and Selling at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of the business’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 sale, the vice president owned 16,900 shares in the company, valued at $4,543,058. The trade was a 27.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Shawn M. Lyon sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $350.00, for a total value of $875,000.00. Following the completion of the transaction, the senior vice president directly owned 12,619 shares of the company’s stock, valued at approximately $4,416,650. The trade was a 16.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.17% of the company’s stock.

Marathon Petroleum Price Performance

MPC stock opened at $366.79 on Wednesday. The stock has a market cap of $107.08 billion, a price-to-earnings ratio of 12.61, a P/E/G ratio of 0.23 and a beta of 0.52. 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 50 day simple moving average of $291.36 and a 200 day simple moving average of $250.88. Marathon Petroleum Corporation has a 1 year low of $161.80 and a 1 year high of $367.24.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, beating analysts’ consensus estimates of $14.27 by $3.46. The firm 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 company’s quarterly revenue was up 53.5% on a year-over-year basis. During the same quarter last year, the business posted $3.96 earnings per share. Research analysts anticipate that Marathon Petroleum Corporation will post 46.66 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors 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 dividend yield of 1.1%. Marathon Petroleum’s dividend payout ratio (DPR) is 13.75%.

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.