Succession Financial Inc. Purchases Shares of 3,000 Marathon Petroleum Corporation $MPC

Succession Financial Inc. acquired a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 3,000 shares of the oil and gas company’s stock, valued at approximately $767,000. Marathon Petroleum accounts for approximately 0.7% of Succession Financial Inc.’s investment portfolio, making the stock its 14th largest position.

Several other hedge funds also recently made changes to their positions in the business. Solstein Capital LLC acquired a new stake in Marathon Petroleum during the second quarter valued at approximately $26,000. Caitlin John LLC acquired a new position in Marathon Petroleum in the second quarter worth approximately $26,000. Bell Investment Advisors Inc acquired a new position in Marathon Petroleum in the second quarter worth approximately $27,000. Navalign LLC bought a new position in shares of Marathon Petroleum in the fourth quarter valued at $30,000. Finally, WFA of San Diego LLC acquired a new stake in shares of Marathon Petroleum during the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

NYSE MPC opened at $389.86 on Friday. 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 firm has a market capitalization of $113.82 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 0.25 and a beta of 0.53. The company has a 50 day simple moving average of $322.31 and a 200-day simple moving average of $266.52. Marathon Petroleum Corporation has a 52-week low of $161.93 and a 52-week high of $398.52.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data 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 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 company’s revenue for the quarter was up 53.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.96 EPS. Equities research analysts predict that Marathon Petroleum Corporation will post 46.66 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid a $1.00 dividend. 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 1.0%. Marathon Petroleum’s dividend payout ratio is 13.75%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MPC. Zacks Research lowered Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 17th. Citigroup boosted their target price on Marathon Petroleum from $303.00 to $318.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Jefferies Financial Group set a $335.00 price target on Marathon Petroleum and gave the company a “buy” rating in a research report on Sunday, July 12th. Wall Street Zen raised Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Marathon Petroleum in a report on Friday, June 12th. Twelve analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $322.44.

Insider Buying and Selling

In related news, VP Erin M. Brzezinski sold 570 shares of the stock in a transaction 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 in the company, valued at approximately $571,757.04. This trade represents a 26.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Shawn Lyon sold 1,000 shares of Marathon Petroleum stock in a transaction on Monday, August 31st. The shares were sold at an average price of $375.75, for a total value of $375,750.00. Following the sale, the senior vice president directly owned 11,194 shares of the company’s stock, valued at approximately $4,206,145.50. The trade was a 8.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 21,691 shares of company stock worth $7,780,127. Corporate insiders own 0.17% of the company’s stock.

Marathon Petroleum 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.