NFJ Investment Group LLC Buys New Stake in Marathon Petroleum Corporation $MPC

NFJ Investment Group LLC bought a new stake in Marathon Petroleum Corporation (NYSE:MPC) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 168,617 shares of the oil and gas company’s stock, valued at approximately $43,110,000. Marathon Petroleum makes up about 1.5% of NFJ Investment Group LLC’s portfolio, making the stock its 15th largest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bell Investment Advisors Inc purchased a new stake in shares of Marathon Petroleum during the 2nd quarter valued at $27,000. Navalign LLC purchased a new position in Marathon Petroleum during the 4th quarter worth $30,000. Kohmann Bosshard Financial Services LLC purchased a new position in Marathon Petroleum during the 4th quarter worth $31,000. Berbice Capital Management LLC increased its position 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 valued at $33,000 after buying an additional 100 shares in the last quarter. Finally, WFA of San Diego LLC purchased a new stake in Marathon Petroleum in the second quarter valued at about $33,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Trading Down 0.6%

Shares of NYSE:MPC opened at $358.71 on Friday. 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 52-week low of $161.93 and a 52-week high of $367.60. The stock has a market cap of $104.72 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 0.23 and a beta of 0.52. The business has a 50-day moving average price of $295.27 and a 200-day moving average price of $253.47.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, beating analysts’ consensus estimates of $14.27 by $3.46. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The firm had revenue of $51.99 billion for the quarter, compared to analyst estimates of $40.87 billion. During the same quarter in the prior year, the firm earned $3.96 earnings per share. Marathon Petroleum’s revenue for the quarter was up 53.5% on a year-over-year basis. Equities analysts predict that Marathon Petroleum Corporation will post 46.66 EPS for the current 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 issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio is 13.75%.

Insiders Place Their Bets

In related news, SVP Shawn M. Lyon sold 2,500 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $350.00, for a total transaction of $875,000.00. Following the completion of the transaction, the senior vice president owned 12,619 shares of the company’s stock, valued at $4,416,650. This trade represents a 16.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Michael A. Henschen II sold 6,336 shares of the company’s stock in a transaction on 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 completion of the sale, the vice president directly owned 16,900 shares in the company, valued at approximately $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. 0.17% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MPC shares. Barclays raised their price target on Marathon Petroleum from $289.00 to $321.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, June 12th. Citigroup lifted their target price on shares of Marathon Petroleum from $303.00 to $318.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. JPMorgan Chase & Co. boosted their target price on shares of Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. Finally, Jefferies Financial Group set a $335.00 price target on shares of Marathon Petroleum and gave the company a “buy” rating in a research note on Sunday, July 12th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $312.50.

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.