The Manufacturers Life Insurance Company Takes Position in Marathon Petroleum Corporation $MPC

The Manufacturers Life Insurance Company bought a new stake in Marathon Petroleum Corporation (NYSE:MPC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 176,990 shares of the oil and gas company’s stock, valued at approximately $45,251,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Solstein Capital LLC acquired a new stake in Marathon Petroleum in the second quarter valued at $26,000. Bell Investment Advisors Inc acquired a new position in shares of Marathon Petroleum during the 2nd quarter worth about $27,000. Navalign LLC acquired a new position in shares of Marathon Petroleum during the 4th quarter worth about $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Marathon Petroleum in the 4th quarter valued at about $31,000. Finally, Berbice Capital Management LLC lifted its stake in Marathon Petroleum by 100.0% in 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 during the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Marathon Petroleum

In related news, SVP Shawn M. Lyon sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was 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. The trade was a 16.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction that occurred 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 sale, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. This represents a 27.27% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 26,032 shares of company stock worth $8,744,213. Company insiders own 0.17% of the company’s stock.

Marathon Petroleum Trading Up 2.2%

MPC stock opened at $362.70 on Thursday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25. The company’s 50-day simple moving average is $303.95 and its 200 day simple moving average is $258.31. Marathon Petroleum Corporation has a 52 week low of $161.93 and a 52 week high of $367.60. The company has a market capitalization of $105.89 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last issued 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. 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 business’s revenue was up 53.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.96 EPS. As a group, sell-side analysts anticipate that Marathon Petroleum Corporation will post 46.66 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently declared 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 is Wednesday, August 19th. Marathon Petroleum’s payout ratio is presently 13.75%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on MPC shares. Wall Street Zen upgraded Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 10th. Wells Fargo & Company raised their price objective on Marathon Petroleum from $344.00 to $359.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Bank of America lifted their target price on Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. UBS Group reissued a “buy” rating and set a $321.00 target price on shares of Marathon Petroleum in a report on Friday, July 10th. Finally, Evercore set a $330.00 price target on Marathon Petroleum in a research note on Wednesday, August 5th. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $312.50.

Marathon Petroleum Company 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.