Energy Income Partners LLC Makes New $4.91 Million Investment in Marathon Petroleum Corporation $MPC

Energy Income Partners LLC acquired a new stake in Marathon Petroleum Corporation (NYSE:MPC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 19,213 shares of the oil and gas company’s stock, valued at approximately $4,912,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MPC. Bell Investment Advisors Inc acquired a new position in Marathon Petroleum during the second quarter valued at $27,000. Main Street Group LTD purchased a new stake in Marathon Petroleum in the first quarter valued at $35,000. Cedar Mountain Advisors LLC acquired a new stake in Marathon Petroleum during the 1st quarter worth about $40,000. Navalign LLC purchased a new position in shares of Marathon Petroleum during the 4th quarter valued at about $30,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Marathon Petroleum in the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Activity

In related 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 directly 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 filing with the SEC, which can be accessed through the SEC website. Also, SVP Shawn M. Lyon sold 2,500 shares of Marathon Petroleum stock in a transaction dated 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 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. Additional details regarding this sale are available in the official SEC disclosure. 0.17% of the stock is owned by corporate insiders.

Marathon Petroleum Trading Up 2.4%

Shares of NYSE:MPC opened at $366.79 on Wednesday. The business’s 50 day moving average price is $291.36 and its 200-day moving average price is $250.88. Marathon Petroleum Corporation has a 1 year low of $161.80 and a 1 year high of $367.24. The firm has a market capitalization of $107.08 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52. 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 issued its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, topping the consensus estimate of $14.27 by $3.46. The company had revenue of $51.99 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.96 EPS. On average, equities research analysts forecast that Marathon Petroleum Corporation will post 46.66 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MPC. JPMorgan Chase & Co. boosted their price target on Marathon Petroleum from $235.00 to $257.00 in a report on Wednesday, May 6th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Marathon Petroleum in a report on Friday, June 12th. Piper Sandler boosted their target price on shares of Marathon Petroleum from $343.00 to $344.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Jefferies Financial Group set a $335.00 price target on shares of Marathon Petroleum and gave the stock a “buy” rating in a report on Sunday, July 12th. Finally, Wall Street Zen raised shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 10th. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus price target 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.