Great Lakes Advisors LLC Buys New Holdings in Marathon Petroleum Corporation $MPC

Great Lakes Advisors LLC purchased a new position in Marathon Petroleum Corporation (NYSE:MPC) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 6,444 shares of the oil and gas company’s stock, valued at approximately $1,648,000.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Marathon Petroleum in the 2nd quarter worth approximately $6,648,958,000. State Street Corp grew its holdings in shares of Marathon Petroleum by 0.3% in the fourth quarter. State Street Corp now owns 17,934,327 shares of the oil and gas company’s stock valued at $2,916,660,000 after purchasing an additional 47,896 shares in the last quarter. Boston Partners grew its holdings in shares of Marathon Petroleum by 2.3% in the third quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company’s stock valued at $1,214,522,000 after purchasing an additional 141,691 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Marathon Petroleum in the second quarter worth $1,029,611,000. Finally, Norges Bank purchased a new stake in Marathon Petroleum during the fourth quarter valued at $472,312,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

Shares of MPC stock opened at $362.18 on Friday. Marathon Petroleum Corporation has a 52-week low of $161.93 and a 52-week high of $367.60. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25. The firm has a market capitalization of $105.73 billion, a P/E ratio of 12.45, a P/E/G ratio of 0.23 and a beta of 0.52. The stock has a 50 day moving average price of $297.25 and a 200 day moving average price of $254.23.

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

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 19th. Marathon Petroleum’s payout ratio is 13.75%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Jefferies Financial Group set a $335.00 price objective on shares of Marathon Petroleum and gave the stock a “buy” rating in a research note on Sunday, July 12th. Evercore set a $330.00 target price on shares of Marathon Petroleum in a research report on Wednesday, August 5th. BMO Capital Markets reiterated an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, June 12th. Zacks Research cut Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 17th. Finally, The Goldman Sachs Group raised their price target on Marathon Petroleum from $291.00 to $376.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and a consensus target price of $312.50.

Insider Activity

In other Marathon Petroleum news, 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 value of $1,703,243.52. Following the transaction, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. This 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 this hyperlink. Also, SVP Shawn M. Lyon sold 2,500 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $350.00, for a total value of $875,000.00. Following the transaction, the senior vice president owned 12,619 shares in the company, valued at $4,416,650. The trade was a 16.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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.