Pin Oak Investment Advisors Inc. Takes Position in Marathon Petroleum Corporation $MPC

Pin Oak Investment Advisors Inc. bought a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 1,839 shares of the oil and gas company’s stock, valued at approximately $470,000.

A number of other large investors also recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Marathon Petroleum during the second quarter valued at about $6,648,958,000. State Street Corp increased its holdings in shares of Marathon Petroleum by 0.3% in the fourth quarter. State Street Corp now owns 17,934,327 shares of the oil and gas company’s stock worth $2,916,660,000 after buying an additional 47,896 shares during the period. Boston Partners lifted its stake in shares of Marathon Petroleum by 2.3% in the 3rd quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company’s stock valued at $1,214,522,000 after acquiring an additional 141,691 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Marathon Petroleum during the 2nd quarter valued at about $1,029,611,000. Finally, Norges Bank bought a new position in Marathon Petroleum during the 4th quarter worth approximately $472,312,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

Shares of Marathon Petroleum stock opened at $369.00 on Friday. The business has a 50 day moving average of $308.87 and a 200 day moving average of $260.20. Marathon Petroleum Corporation has a 52 week low of $161.93 and a 52 week high of $369.12. The company has a market cap of $107.73 billion, a PE ratio of 12.68, a P/E/G ratio of 0.24 and a beta of 0.52. 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 released its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, beating the consensus estimate of $14.27 by $3.46. The business had revenue of $51.99 billion for the quarter, compared to analysts’ expectations of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The firm’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 posted $3.96 earnings per share. As a group, equities research analysts forecast that Marathon Petroleum Corporation will post 46.66 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.1%. Marathon Petroleum’s payout ratio is presently 13.75%.

Wall Street Analyst Weigh In

MPC has been the topic of a number of analyst reports. Weiss Ratings raised Marathon Petroleum from a “hold (c+)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Evercore set a $330.00 target price on shares of Marathon Petroleum in a research note on Wednesday, August 5th. Wells Fargo & Company upped their price target on shares of Marathon Petroleum from $344.00 to $359.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. TD Cowen increased their price target on shares of Marathon Petroleum from $357.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Finally, Morgan Stanley raised their price target on shares of Marathon Petroleum from $233.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $312.50.

Insider Activity at Marathon Petroleum

In related news, insider Molly R. Benson sold 17,196 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $358.57, for a total transaction of $6,165,969.72. Following the transaction, the insider owned 30,334 shares in the company, valued at $10,876,862.38. The trade was a 36.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $1,703,243.52. Following the completion of the transaction, the vice president directly owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 26,032 shares of company stock worth $8,744,213 over the last 90 days. 0.17% of the stock is owned by company insiders.

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.