NEOS Investment Management LLC Purchases 5,568 Shares of Marathon Petroleum Corporation $MPC

NEOS Investment Management LLC lifted its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 13.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 48,445 shares of the oil and gas company’s stock after buying an additional 5,568 shares during the quarter. NEOS Investment Management LLC’s holdings in Marathon Petroleum were worth $12,386,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Energy Income Partners LLC bought a new position in Marathon Petroleum during the 2nd quarter valued at about $4,912,000. Evolve Private Wealth LLC bought a new position in Marathon Petroleum during the second quarter valued at approximately $673,000. Railway Pension Investments Ltd purchased a new stake in Marathon Petroleum in the second quarter worth approximately $3,886,000. Pictet Asset Management Holding SA grew its position 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. Finally, Teachers Retirement System of The State of Kentucky grew its position in Marathon Petroleum by 570.7% in the 1st 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 purchasing an additional 143,500 shares during the period. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MPC has been the topic of several research analyst reports. Piper Sandler increased their price target on Marathon Petroleum from $344.00 to $462.00 and gave the company an “overweight” rating in a report on Thursday. Morgan Stanley lifted their price objective on Marathon Petroleum from $233.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Evercore set a $330.00 price objective on Marathon Petroleum in a research report on Wednesday, August 5th. The Goldman Sachs Group increased their target price on Marathon Petroleum from $291.00 to $376.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Finally, Jefferies Financial Group set a $335.00 target price on Marathon Petroleum and gave the stock a “buy” rating in a research report on Sunday, July 12th. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Marathon Petroleum has an average rating of “Moderate Buy” and an average target price of $322.44.

Insiders Place Their Bets

In related news, insider Molly R. Benson sold 17,196 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $358.57, for a total transaction of $6,165,969.72. Following the completion of the transaction, the insider directly owned 30,334 shares in the company, valued at approximately $10,876,862.38. The trade was a 36.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Erin M. Brzezinski sold 570 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total transaction of $206,790.30. Following the completion of the sale, the vice president directly owned 1,576 shares of the company’s stock, valued at $571,757.04. This represents a 26.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 21,691 shares of company stock worth $7,780,127 over the last quarter. 0.17% of the stock is currently owned by corporate insiders.

Marathon Petroleum Trading Up 0.6%

Shares of Marathon Petroleum stock opened at $389.86 on Friday. Marathon Petroleum Corporation has a 1-year low of $161.93 and a 1-year high of $398.52. The company’s fifty day simple moving average is $322.31 and its 200-day simple moving average is $266.52. 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 stock has a market capitalization of $113.81 billion, a PE ratio of 13.40, a P/E/G ratio of 0.25 and a beta of 0.53.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $40.87 billion. During the same period in the prior year, the business posted $3.96 EPS. Marathon Petroleum’s revenue was up 53.5% on a year-over-year basis. As a group, equities analysts anticipate that Marathon Petroleum Corporation will post 47.23 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be given 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 1.0%. Marathon Petroleum’s dividend payout ratio is presently 13.75%.

About Marathon Petroleum

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.