Kayne Anderson Capital Advisors LP Acquires Shares of 206,525 Marathon Petroleum Corporation $MPC

Kayne Anderson Capital Advisors LP bought a new position in Marathon Petroleum Corporation (NYSE:MPC) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 206,525 shares of the oil and gas company’s stock, valued at approximately $52,802,000. Marathon Petroleum makes up 1.0% of Kayne Anderson Capital Advisors LP’s investment portfolio, making the stock its 21st largest position.

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Marathon Petroleum during the second quarter valued at $6,648,958,000. State Street Corp boosted its position in Marathon Petroleum by 0.3% during 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 acquiring an additional 47,896 shares during the period. Boston Partners grew its stake in 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 acquiring an additional 141,691 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Marathon Petroleum during the 2nd quarter valued at about $1,029,611,000. Finally, Norges Bank acquired a new position in shares of Marathon Petroleum in the 4th quarter valued at about $472,312,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on MPC. Morgan Stanley upped their price objective on shares of Marathon Petroleum from $233.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Piper Sandler lifted their target price on shares of Marathon Petroleum from $343.00 to $344.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. BMO Capital Markets restated an “outperform” rating on shares of Marathon Petroleum in a report on Friday, June 12th. Raymond James Financial increased their price objective on Marathon Petroleum from $300.00 to $335.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Finally, Evercore set a $330.00 price objective on Marathon Petroleum in a research report on Wednesday, August 5th. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $312.50.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, SVP Shawn M. Lyon sold 2,500 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $350.00, for a total value of $875,000.00. Following the completion of the sale, the senior vice president owned 12,619 shares in the company, valued at approximately $4,416,650. This trade represents a 16.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Michael A. Henschen II sold 6,336 shares of the business’s 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. This represents a 27.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.17% of the stock is owned by corporate insiders.

Marathon Petroleum Trading Down 0.6%

Shares of Marathon Petroleum stock opened at $358.71 on Friday. Marathon Petroleum Corporation has a 1 year low of $161.93 and a 1 year high of $367.60. The company’s fifty day simple moving average is $295.27 and its 200-day simple moving average is $253.47. The company has a market cap of $104.72 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 0.23 and a beta of 0.52. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, beating 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 analysts’ expectations of $40.87 billion. During the same quarter in the prior year, the firm posted $3.96 EPS. The company’s revenue for the quarter was up 53.5% on a year-over-year basis. As a group, sell-side analysts expect that Marathon Petroleum Corporation will post 46.66 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given 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 1.1%. Marathon Petroleum’s dividend payout ratio 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.