Proficio Capital Partners LLC Invests $476,000 in Marathon Petroleum Corporation $MPC

Proficio Capital Partners LLC purchased a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,860 shares of the oil and gas company’s stock, valued at approximately $476,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MPC. Pure Financial Advisors LLC acquired a new stake in shares of Marathon Petroleum during the second quarter worth $1,252,000. Transamerica Financial Advisors LLC acquired a new position in shares of Marathon Petroleum in the second quarter valued at about $425,000. Sanchez Levi Garrett acquired a new position in shares of Marathon Petroleum in the second quarter valued at about $562,000. Corient Private Wealth LP bought a new position in Marathon Petroleum during the second quarter worth about $39,092,000. Finally, Perennial Investment Advisors LLC bought a new position in Marathon Petroleum during the second quarter worth about $251,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Trading Up 0.3%

MPC opened at $363.23 on Friday. The stock has a market capitalization of $106.04 billion, a price-to-earnings ratio of 12.49, a P/E/G ratio of 0.23 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 Corporation has a twelve month low of $161.93 and a twelve month high of $367.60. The company has a 50-day simple moving average of $306.35 and a 200 day simple moving average of $259.44.

Marathon Petroleum (NYSE:MPC) last released its 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. 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 business’s quarterly revenue was up 53.5% compared to the same quarter last year. During the same period last year, the firm earned $3.96 EPS. Analysts predict 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 paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio (DPR) is 13.75%.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the sale, the vice president owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Shawn M. Lyon sold 2,500 shares of Marathon Petroleum stock in a transaction on 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 transaction, the senior vice president owned 12,619 shares in the company, valued at approximately $4,416,650. The trade was a 16.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 26,032 shares of company stock valued at $8,744,213 over the last three months. 0.17% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. The Goldman Sachs Group boosted their price objective on shares of Marathon Petroleum from $291.00 to $376.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Raymond James Financial raised their target price on shares of Marathon Petroleum from $300.00 to $335.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Wall Street Zen upgraded shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. Evercore set a $330.00 price target on Marathon Petroleum in a research note on Wednesday, August 5th. Finally, Morgan Stanley increased their price target on Marathon Petroleum from $233.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and a consensus price target of $312.50.

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.