Coastal Bridge Advisors LLC Acquires New Holdings in Marathon Petroleum Corporation $MPC

Coastal Bridge Advisors LLC bought a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,939 shares of the oil and gas company’s stock, valued at approximately $751,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MPC. Brighton Jones LLC increased its position in shares of Marathon Petroleum by 30.9% during the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock worth $696,000 after purchasing an additional 1,178 shares in the last quarter. Woodline Partners LP boosted its position in Marathon Petroleum by 38.3% in the first quarter. Woodline Partners LP now owns 26,697 shares of the oil and gas company’s stock valued at $3,889,000 after buying an additional 7,396 shares in the last quarter. Sivia Capital Partners LLC grew its stake in Marathon Petroleum by 26.6% during the second quarter. Sivia Capital Partners LLC now owns 2,221 shares of the oil and gas company’s stock worth $369,000 after buying an additional 466 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Marathon Petroleum during the second quarter worth approximately $8,505,000. Finally, AXA S.A. increased its holdings in shares of Marathon Petroleum by 46.7% during the second quarter. AXA S.A. now owns 39,675 shares of the oil and gas company’s stock worth $6,590,000 after buying an additional 12,639 shares in the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Stock Up 1.5%

Shares of MPC opened at $369.00 on Friday. The business’s fifty day moving average price is $308.87 and its two-hundred day moving average price is $260.20. The firm has a market capitalization of $107.73 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 0.24 and a beta of 0.52. Marathon Petroleum Corporation has a 52 week low of $161.93 and a 52 week high of $369.12. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25.

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, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $40.87 billion. During the same quarter in the previous year, the company posted $3.96 earnings per share. The firm’s quarterly revenue was up 53.5% on a year-over-year basis. On average, analysts predict that Marathon Petroleum Corporation will post 46.66 earnings per share for the current year.

Marathon Petroleum Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on MPC. Mizuho lifted their price objective on Marathon Petroleum from $284.00 to $304.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Weiss Ratings upgraded Marathon Petroleum from a “hold (c+)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. The Goldman Sachs Group lifted their price target on Marathon Petroleum from $291.00 to $376.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Raymond James Financial upped their price target 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. Finally, Morgan Stanley increased their price objective on shares of Marathon Petroleum from $233.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $312.50.

Insider Activity

In other news, VP Michael A. Henschen II sold 6,336 shares of the firm’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 owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Molly R. Benson sold 17,196 shares of Marathon Petroleum stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $358.57, for a total transaction 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 represents a 36.18% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 26,032 shares of company stock valued at $8,744,213. 0.17% of the stock is currently owned by insiders.

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.