Uptick Partners LLC Makes New Investment in Marathon Petroleum Corporation $MPC

Uptick Partners LLC purchased a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 8,545 shares of the oil and gas company’s stock, valued at approximately $2,185,000.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Marathon Petroleum in the second quarter worth $6,648,958,000. Bank of New York Mellon Corp bought a new position in shares of Marathon Petroleum in the 2nd quarter valued at approximately $1,029,611,000. Norges Bank bought a new position in shares of Marathon Petroleum in the fourth quarter valued at approximately $472,312,000. Capital Wealth Planning LLC raised its holdings in Marathon Petroleum by 49,392.0% in the 4th quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock worth $245,157,000 after acquiring an additional 1,495,097 shares during the period. Finally, Pacer Advisors Inc. grew its position in shares of Marathon Petroleum by 3,816.8% in the fourth quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company’s stock valued at $212,517,000 after purchasing an additional 1,273,386 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Activity

In other news, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction on 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. This represents a 27.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Shawn M. Lyon sold 2,500 shares of the 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 transaction, the senior vice president directly owned 12,619 shares in the company, valued at $4,416,650. The trade was a 16.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.17% of the company’s stock.

Marathon Petroleum Stock Performance

Marathon Petroleum stock opened at $361.02 on Thursday. The firm has a market capitalization 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 stock has a fifty day moving average price of $293.31 and a two-hundred day moving average price of $252.19. Marathon Petroleum Corporation has a 52-week low of $161.93 and a 52-week high of $367.24. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, topping the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The company had revenue of $51.99 billion during the quarter, compared to analyst estimates of $40.87 billion. During the same quarter last year, the business posted $3.96 earnings per share. The company’s revenue was up 53.5% on a year-over-year basis. As a group, analysts anticipate that Marathon Petroleum Corporation will post 46.66 EPS 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. Investors 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 yield of 1.1%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 13.75%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Barclays increased their target price on Marathon Petroleum from $289.00 to $321.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Piper Sandler upped their price target on Marathon Petroleum from $343.00 to $344.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. increased their price objective on Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. Evercore set a $330.00 price objective on shares of Marathon Petroleum in a research note on Wednesday, August 5th. Finally, Mizuho upped their target price on shares of Marathon Petroleum from $284.00 to $304.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Marathon Petroleum presently has an average 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.