Succession Financial Inc. Makes New $767,000 Investment in Marathon Petroleum Corporation $MPC

Succession Financial Inc. acquired a new position in Marathon Petroleum Corporation (NYSE:MPC) during the second quarter, Holdings Channel reports. The firm acquired 3,000 shares of the oil and gas company’s stock, valued at approximately $767,000. Marathon Petroleum makes up approximately 0.7% of Succession Financial Inc.’s portfolio, making the stock its 16th biggest holding.

Other hedge funds have also bought and sold shares of the company. Pallas Capital Advisors LLC bought a new stake in shares of Marathon Petroleum during the 2nd quarter worth $569,000. Deutsche Bank AG purchased a new stake in Marathon Petroleum during the 2nd quarter valued at about $280,761,000. Perigon Wealth Management LLC purchased a new stake in shares of Marathon Petroleum during the second quarter valued at approximately $766,000. Commerzbank Aktiengesellschaft FI purchased a new stake in Marathon Petroleum during the 2nd quarter valued at $545,000. Finally, Phillips Wealth Planners LLC purchased a new stake in shares of Marathon Petroleum during the second quarter worth about $298,000. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Stock Up 1.2%

MPC opened at $359.78 on Tuesday. 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 $160.87 and a twelve month high of $363.34. The stock has a market capitalization of $105.03 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 0.23 and a beta of 0.52. The firm has a 50 day moving average price of $289.19 and a 200-day moving average price of $249.51.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, beating analysts’ consensus estimates of $14.27 by $3.46. The business had revenue of $51.99 billion during 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 quarterly revenue was up 53.5% compared to the same quarter last year. During the same period in the previous year, the business earned $3.96 EPS. Equities research analysts forecast that Marathon Petroleum Corporation will post 46.66 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

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 given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio is 13.75%.

Wall Street Analyst Weigh In

MPC has been the subject of a number of research analyst reports. Morgan Stanley raised their price target on Marathon Petroleum from $233.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. Mizuho boosted their price target on Marathon Petroleum from $284.00 to $304.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Weiss Ratings raised Marathon Petroleum from a “hold (c+)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Zacks Research cut shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 17th. Finally, Jefferies Financial Group set a $335.00 price objective on shares of Marathon Petroleum and gave the company a “buy” rating in a research report on Sunday, July 12th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $312.50.

Insiders Place Their Bets

In other Marathon Petroleum news, SVP Shawn M. Lyon sold 2,500 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $350.00, for a total transaction of $875,000.00. Following the completion of the sale, the senior vice president directly owned 12,619 shares in the company, valued at $4,416,650. The trade was a 16.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Michael A. Henschen II sold 6,336 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the sale, the vice president directly owned 16,900 shares of the company’s stock, valued at $4,543,058. The trade was a 27.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.17% of the stock is currently owned by corporate insiders.

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.