Geneva Partners LLC Invests $5.70 Million in Marathon Petroleum Corporation $MPC

Geneva Partners LLC purchased a new stake in Marathon Petroleum Corporation (NYSE:MPC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 22,279 shares of the oil and gas company’s stock, valued at approximately $5,696,000. Marathon Petroleum accounts for 1.5% of Geneva Partners LLC’s holdings, making the stock its 27th largest position.

Other large investors have also made changes to their positions in the company. Bell Investment Advisors Inc bought a new position in Marathon Petroleum during the second quarter worth about $27,000. Navalign LLC bought a new stake in shares of Marathon Petroleum in the fourth quarter worth about $30,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Marathon Petroleum during the fourth quarter worth about $31,000. Berbice Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 100 shares in the last quarter. Finally, WFA of San Diego LLC bought a new position in shares of Marathon Petroleum during the 2nd quarter valued at about $33,000. Institutional investors own 76.77% of the company’s stock.

Insider Transactions at Marathon Petroleum

In related news, SVP Shawn M. Lyon sold 2,500 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $350.00, for a total value of $875,000.00. Following the completion of the sale, the senior vice president directly owned 12,619 shares in the company, valued at approximately $4,416,650. This trade represents a 16.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following 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 position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MPC. Evercore set a $330.00 target price on Marathon Petroleum in a research note on Wednesday, August 5th. Zacks Research lowered shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 17th. Citigroup upped their price target on shares of Marathon Petroleum from $303.00 to $318.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Piper Sandler increased their price objective on shares of Marathon Petroleum from $343.00 to $344.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, Barclays boosted their price objective on shares of Marathon Petroleum from $289.00 to $321.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $312.50.

Marathon Petroleum Trading Down 1.4%

Shares of Marathon Petroleum stock opened at $361.02 on Thursday. The stock has a market cap of $105.40 billion, a P/E ratio of 12.41, a P/E/G ratio of 0.24 and a beta of 0.52. 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 12-month low of $161.93 and a 12-month high of $367.24. The business’s 50 day moving average is $293.31 and its 200-day moving average is $252.19.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, beating the consensus estimate of $14.27 by $3.46. The business had revenue of $51.99 billion during the quarter, compared to analysts’ expectations 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 last year, the business earned $3.96 earnings per share. Equities research analysts predict that Marathon Petroleum Corporation will post 46.66 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a $1.00 dividend. 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 dividend payout ratio (DPR) is 13.75%.

About Marathon Petroleum

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.