Pacer Advisors Inc. Purchases 31,343 Shares of Marathon Petroleum Corporation $MPC

Pacer Advisors Inc. increased its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 2.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,338,092 shares of the oil and gas company’s stock after acquiring an additional 31,343 shares during the quarter. Pacer Advisors Inc.’s holdings in Marathon Petroleum were worth $326,735,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Navalign LLC acquired a new stake in shares of Marathon Petroleum during the fourth quarter worth about $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in Marathon Petroleum during the 4th quarter worth approximately $31,000. Berbice Capital Management LLC increased its stake in Marathon Petroleum by 100.0% during the 4th quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 100 shares in the last quarter. WFA of San Diego LLC acquired a new stake in Marathon Petroleum during the 2nd quarter worth approximately $33,000. Finally, Ares Financial Consulting LLC bought a new position in Marathon Petroleum in the fourth quarter valued at approximately $34,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $316.25 on Monday. Marathon Petroleum Corporation has a 12 month low of $158.00 and a 12 month high of $326.92. The company’s fifty day simple moving average is $274.13 and its 200-day simple moving average is $237.86. The firm has a market cap of $92.33 billion, a PE ratio of 20.64, a P/E/G ratio of 0.20 and a beta of 0.52. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.91. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The business had revenue of $34.20 billion during the quarter, compared to the consensus estimate of $33.42 billion. During the same quarter last year, the firm earned ($0.24) earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities research analysts expect that Marathon Petroleum Corporation will post 43.19 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed 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. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio is currently 26.11%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MPC shares. Wall Street Zen raised shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. Morgan Stanley upped their target price on shares of Marathon Petroleum from $233.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. Bank of America lifted their price target on Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. Mizuho boosted their price target on Marathon Petroleum from $224.00 to $284.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. Finally, Jefferies Financial Group set a $335.00 price objective on Marathon Petroleum and gave the stock a “buy” rating in a research report on Sunday, July 12th. Eleven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $298.69.

Insider Buying and Selling at Marathon Petroleum

In other news, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the vice president owned 16,900 shares in the company, valued at $4,543,058. This trade represents a 27.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is owned by insiders.

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.