Saranac Partners Ltd Takes Position in Marathon Petroleum Corporation $MPC

Saranac Partners Ltd acquired a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) in the second quarter, HoldingsChannel.com reports. The fund acquired 1,826 shares of the oil and gas company’s stock, valued at approximately $467,000.

A number of other large investors have also modified their holdings of MPC. MassMutual Private Wealth & Trust FSB raised its position in Marathon Petroleum by 3.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,288 shares of the oil and gas company’s stock worth $329,000 after acquiring an additional 40 shares in the last quarter. Equitable Trust Co. raised its position in Marathon Petroleum by 1.6% during the first quarter. Equitable Trust Co. now owns 2,637 shares of the oil and gas company’s stock worth $644,000 after acquiring an additional 42 shares during the last quarter. Bartlett & CO. Wealth Management LLC raised its position in shares of Marathon Petroleum by 0.4% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 9,548 shares of the oil and gas company’s stock worth $2,411,000 after purchasing an additional 42 shares during the last quarter. Wellington Grp LLC lifted its stake in Marathon Petroleum by 9.6% in the 1st quarter. Wellington Grp LLC now owns 516 shares of the oil and gas company’s stock valued at $126,000 after buying an additional 45 shares in the last quarter. Finally, Avior Wealth Management LLC grew its holdings in Marathon Petroleum by 2.2% during the 2nd quarter. Avior Wealth Management LLC now owns 2,108 shares of the oil and gas company’s stock valued at $539,000 after buying an additional 46 shares during the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Jefferies Financial Group set a $335.00 price target on Marathon Petroleum and gave the stock a “buy” rating in a research report on Sunday, July 12th. Bank of America increased their price objective on Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. Citigroup lifted their price objective on Marathon Petroleum from $303.00 to $318.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Morgan Stanley boosted their target price on shares of Marathon Petroleum from $233.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Finally, UBS Group restated a “buy” rating and issued a $321.00 target price on shares of Marathon Petroleum in a report on Friday, July 10th. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $312.50.

Marathon Petroleum Stock Up 0.4%

MPC opened at $362.18 on Monday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89. The stock has a market capitalization of $105.73 billion, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52. The business has a 50-day moving average of $297.25 and a two-hundred day moving average of $254.78. Marathon Petroleum Corporation has a 12 month low of $161.93 and a 12 month high of $367.60.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $40.87 billion. During the same quarter in the prior year, the company posted $3.96 EPS. The company’s quarterly revenue was up 53.5% compared to the same quarter last year. On average, research analysts expect that Marathon Petroleum Corporation will post 46.66 earnings per share for the current year.

Marathon Petroleum Announces Dividend

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

Insider Buying and Selling

In other news, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the sale, the vice president directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Shawn M. Lyon sold 2,500 shares of the company’s stock in a transaction 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 sale, the senior vice president owned 12,619 shares of the company’s stock, valued at approximately $4,416,650. The trade was a 16.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company 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.