Kingsview Wealth Management LLC Purchases New Shares in Marathon Petroleum Corporation $MPC

Kingsview Wealth Management LLC acquired a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 46,371 shares of the oil and gas company’s stock, valued at approximately $11,856,000.

Several other institutional investors have also recently made changes to their positions in MPC. BlackRock Inc. purchased a new position in Marathon Petroleum during the second quarter worth about $6,648,958,000. State Street Corp lifted its position in shares of Marathon Petroleum by 0.3% during the 4th quarter. State Street Corp now owns 17,934,327 shares of the oil and gas company’s stock worth $2,916,660,000 after buying 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 acquiring an additional 141,691 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Marathon Petroleum during the second quarter valued at approximately $1,029,611,000. Finally, Norges Bank purchased a new position in Marathon Petroleum in the fourth quarter worth $472,312,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Marathon Petroleum stock opened at $369.00 on Friday. Marathon Petroleum Corporation has a 1-year low of $161.93 and a 1-year high of $369.12. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $107.73 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 0.24 and a beta of 0.52. The firm’s 50 day simple moving average is $308.87 and its 200 day simple moving average is $260.20.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results 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. The firm had revenue of $51.99 billion during the quarter, compared to the consensus estimate of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The business’s quarterly revenue was up 53.5% compared to the same quarter last year. During the same period last year, the firm earned $3.96 EPS. As a group, 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 disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $4.00 annualized dividend and a yield of 1.1%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 13.75%.

Insider Buying and Selling

In other Marathon Petroleum news, SVP Shawn M. Lyon sold 2,500 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $350.00, for a total value of $875,000.00. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Molly R. Benson sold 17,196 shares of Marathon Petroleum stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $358.57, for a total value of $6,165,969.72. Following the sale, the insider owned 30,334 shares of the company’s stock, valued at approximately $10,876,862.38. This trade represents a 36.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 26,032 shares of company stock worth $8,744,213 over the last ninety days. 0.17% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MPC shares. Wall Street Zen upgraded shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. JPMorgan Chase & Co. raised their price objective on shares of Marathon Petroleum from $235.00 to $257.00 in a report on Wednesday, May 6th. Barclays boosted their target price on shares of Marathon Petroleum from $289.00 to $321.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Jefferies Financial Group set a $335.00 price target on Marathon Petroleum and gave the stock a “buy” rating in a report on Sunday, July 12th. Finally, Citigroup boosted their price objective on Marathon Petroleum from $303.00 to $318.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and an average target price of $312.50.

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.