Jupiter Topco LLC Takes Position in Marathon Petroleum Corporation $MPC

Jupiter Topco LLC purchased a new stake in Marathon Petroleum Corporation (NYSE:MPC) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 34,264 shares of the oil and gas company’s stock, valued at approximately $8,753,000.

A number of other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Marathon Petroleum during the 2nd quarter worth $6,648,958,000. Bank of New York Mellon Corp bought a new stake in shares of Marathon Petroleum during the 2nd quarter valued at $1,029,611,000. Norges Bank acquired a new stake in shares of Marathon Petroleum during the 4th quarter worth $472,312,000. Capital Wealth Planning LLC increased its position in shares of Marathon Petroleum by 49,392.0% in the fourth quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock worth $245,157,000 after purchasing an additional 1,495,097 shares during the period. Finally, Legal & General Group Plc bought a new position in shares of Marathon Petroleum in the second quarter worth $380,745,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MPC. Raymond James Financial upped their price objective on shares of Marathon Petroleum from $300.00 to $335.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. BMO Capital Markets restated an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, June 12th. UBS Group reaffirmed a “buy” rating and set a $321.00 price target on shares of Marathon Petroleum in a report on Friday, July 10th. Bank of America increased their price target on shares of Marathon Petroleum from $224.00 to $260.00 in a research report on Tuesday, May 26th. Finally, The Goldman Sachs Group lifted their price objective on shares of Marathon Petroleum from $291.00 to $376.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $312.50.

Marathon Petroleum Stock Up 0.0%

MPC stock opened at $369.00 on Monday. The firm has a 50-day moving average price of $308.87 and a 200-day moving average price of $260.60. Marathon Petroleum Corporation has a 12 month low of $161.93 and a 12 month 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 stock has a market capitalization of $107.72 billion, a P/E ratio of 12.68, a price-to-earnings-growth ratio of 0.24 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $14.27 by $3.46. The company had revenue of $51.99 billion for 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 firm’s revenue was up 53.5% on a year-over-year basis. During the same period in the previous year, the firm posted $3.96 EPS. As a group, equities research analysts anticipate that Marathon Petroleum Corporation will post 46.66 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

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

Insider Transactions at Marathon Petroleum

In other 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 transaction of $875,000.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction on 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 completion of the transaction, the vice president owned 16,900 shares of the company’s stock, valued at $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 26,032 shares of company stock worth $8,744,213. Corporate insiders own 0.17% of the company’s stock.

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.