1,617 Shares in Marathon Petroleum Corporation $MPC Purchased by Range Advisory LLC

Range Advisory LLC bought a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,617 shares of the oil and gas company’s stock, valued at approximately $413,000.

Other large investors also recently made changes to their positions in the company. California State Teachers Retirement System grew its position in Marathon Petroleum by 36,834.6% during the second quarter. California State Teachers Retirement System now owns 128,810,637 shares of the oil and gas company’s stock valued at $32,933,016,000 after purchasing an additional 128,461,884 shares in the last quarter. BlackRock Inc. acquired a new position in Marathon Petroleum in the 2nd quarter valued at approximately $6,648,958,000. State Street Corp lifted its position in Marathon Petroleum by 0.3% in the 4th 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 in the last quarter. Boston Partners boosted its stake in shares of Marathon Petroleum by 2.3% during 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 buying an additional 141,691 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in shares of Marathon Petroleum during the 2nd quarter valued at $1,029,611,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Trading Up 2.5%

Shares of NYSE:MPC opened at $398.72 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $116.40 billion, a PE ratio of 13.71, a P/E/G ratio of 0.25 and a beta of 0.53. Marathon Petroleum Corporation has a 1 year low of $161.93 and a 1 year high of $399.62. The firm has a fifty day moving average price of $327.79 and a 200 day moving average price of $269.70.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, beating analysts’ consensus estimates of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The company had revenue of $51.99 billion for the quarter, compared to analyst estimates of $40.87 billion. During the same quarter last year, the firm posted $3.96 earnings per share. The company’s quarterly revenue was up 53.5% compared to the same quarter last year. Analysts expect that Marathon Petroleum Corporation will post 47.23 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a dividend of $1.00 per share. The ex-dividend date is Wednesday, August 19th. This represents a $4.00 annualized dividend and a yield of 1.0%. Marathon Petroleum’s dividend payout ratio is presently 13.75%.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, insider Molly Benson sold 17,196 shares of the firm’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 value of $6,165,969.72. Following the sale, the insider owned 30,334 shares of the company’s stock, valued at $10,876,862.38. This trade represents a 36.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Erin M. Brzezinski sold 570 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total value of $206,790.30. Following the completion of the transaction, the vice president directly owned 1,576 shares in the company, valued at approximately $571,757.04. This represents a 26.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,691 shares of company stock valued at $7,780,127 in the last 90 days. 0.17% of the stock is currently owned by insiders.

Marathon Petroleum News Roundup

Here are the key news stories impacting Marathon Petroleum this week:

• Positive Sentiment: Record-high crack spreads and strong refining margins are supporting MPC’s earnings outlook. Rising earnings estimates have helped Zacks identify the company as a “Bull of the Day” and a strong momentum stock. Marathon Petroleum and Campbell’s highlighted as Zacks Bull and Bear of the Day
• Positive Sentiment: Analyst support is reinforcing the rally. UBS reportedly raised its view on MPC, while Wells Fargo has maintained a constructive outlook and expects further gains despite concerns that the stock’s sharp advance could lead to a valuation pullback. MPC Gets a UBS Raise While Refiners Keep Cashing In
• Positive Sentiment: Escalating tensions involving Iran and threats to U.S. energy assets in the Gulf pushed crude oil above $91 per barrel and prompted money to rotate into energy-related stocks. Higher oil prices and geopolitical risk can support refining-sector sentiment, although the effect on MPC’s margins may depend on how product prices and crude costs move relative to one another. Iran Just Raised the Stakes in the Gulf—These 5 Stocks Stand to Benefit
• Neutral Sentiment: MPC has become a heavily searched and widely discussed stock on Zacks, with its momentum and “Strong Buy” characteristics attracting additional investor attention. This may increase near-term demand but does not itself change the company’s fundamentals. Why Marathon Petroleum is a Strong Momentum Stock

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MPC. The Goldman Sachs Group upped their price target on shares of Marathon Petroleum from $291.00 to $376.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Jefferies Financial Group set a $335.00 target price on Marathon Petroleum and gave the company a “buy” rating in a research note on Sunday, July 12th. Raymond James Financial upped their target price on Marathon Petroleum from $300.00 to $335.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Morgan Stanley raised their price target on Marathon Petroleum from $233.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. Finally, UBS Group lifted their price target on Marathon Petroleum from $321.00 to $450.00 and gave the company a “buy” rating in a report on Tuesday. Twelve investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Marathon Petroleum presently has an average rating of “Moderate Buy” and an average target price of $330.50.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation (NYSE:MPC) is an integrated downstream energy company engaged primarily in refining, marketing and transporting petroleum products. The company converts crude oil and other feedstocks into gasoline, diesel and other transportation fuels, as well as asphalt, propane, petrochemical feedstocks and related products.

Marathon Petroleum operates a network of refineries in the United States and markets refined products through wholesale channels, branded retail locations and commercial customers.