Occidental Asset Management LLC Invests $4.29 Million in Marathon Petroleum Corporation $MPC

Occidental Asset Management LLC bought a new position in Marathon Petroleum Corporation (NYSE:MPC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 16,795 shares of the oil and gas company’s stock, valued at approximately $4,294,000.

A number of other large investors have also recently added to or reduced their stakes in MPC. Bank of New York Mellon Corp acquired a new position in Marathon Petroleum in the second quarter worth approximately $1,029,611,000. Norges Bank bought a new stake in shares of Marathon Petroleum during the 4th quarter worth $472,312,000. Capital Wealth Planning LLC grew its holdings in shares of Marathon Petroleum by 49,392.0% in the 4th quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock worth $245,157,000 after acquiring an additional 1,495,097 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Marathon Petroleum by 3,816.8% during the fourth quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company’s stock worth $212,517,000 after purchasing an additional 1,273,386 shares during the period. Finally, Deutsche Bank AG purchased a new stake in shares of Marathon Petroleum during the second quarter valued at $280,761,000. 76.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Barclays boosted their price objective on Marathon Petroleum from $289.00 to $321.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Zacks Research lowered shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 17th. Morgan Stanley upped their price target on shares of Marathon Petroleum from $233.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Mizuho raised their price objective on shares of Marathon Petroleum from $284.00 to $304.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Finally, Citigroup lifted their price objective on shares of Marathon Petroleum from $303.00 to $318.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $312.50.

Insider Buying and Selling at Marathon Petroleum

In related news, SVP Shawn M. Lyon sold 2,500 shares of the company’s 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 sale, the senior vice president directly owned 12,619 shares in the company, valued at approximately $4,416,650. This represents a 16.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction on 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 transaction, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.17% of the company’s stock.

Marathon Petroleum Stock Up 1.2%

Shares of Marathon Petroleum stock opened at $359.78 on Tuesday. The firm has a market cap of $105.03 billion, a price-to-earnings ratio of 12.37, a P/E/G ratio of 0.23 and a beta of 0.52. The stock has a 50-day simple moving average of $289.19 and a 200-day simple moving average of $249.51. Marathon Petroleum Corporation has a 52-week low of $160.87 and a 52-week high of $363.34. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, topping analysts’ consensus estimates of $14.27 by $3.46. The firm had revenue of $51.99 billion for the quarter, compared to the consensus estimate of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The firm’s revenue was up 53.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.96 earnings per share. On average, equities research analysts expect that Marathon Petroleum Corporation will post 46.66 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm 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 dividend of $1.00 per share. The ex-dividend date is Wednesday, August 19th. This represents a $4.00 annualized dividend and a dividend 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.