Succession Financial Inc. Makes New $767,000 Investment in Marathon Petroleum Corporation $MPC

Succession Financial Inc. purchased a new stake in Marathon Petroleum Corporation (NYSE:MPC) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,000 shares of the oil and gas company’s stock, valued at approximately $767,000. Marathon Petroleum makes up about 0.7% of Succession Financial Inc.’s investment portfolio, making the stock its 16th biggest holding.

Several other institutional investors have also added to or reduced their stakes in MPC. Brighton Jones LLC raised its holdings 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 buying an additional 1,178 shares in the last quarter. Woodline Partners LP increased its position in Marathon Petroleum by 38.3% during the 1st quarter. Woodline Partners LP now owns 26,697 shares of the oil and gas company’s stock worth $3,889,000 after purchasing an additional 7,396 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in shares of 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 in the last quarter. Marshall Wace LLP bought a new position in Marathon Petroleum in the second quarter valued at about $8,505,000. Finally, AXA S.A. raised its holdings in Marathon Petroleum by 46.7% in the 2nd quarter. AXA S.A. now owns 39,675 shares of the oil and gas company’s stock valued at $6,590,000 after buying an additional 12,639 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. TD Cowen raised their target price on Marathon Petroleum from $357.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Piper Sandler upped their price objective 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. Bank of America increased their price objective on shares of Marathon Petroleum from $224.00 to $260.00 in a research report on Tuesday, May 26th. UBS Group reissued a “buy” rating and set a $321.00 target price on shares of Marathon Petroleum in a research note on Friday, July 10th. Finally, JPMorgan Chase & Co. boosted their price objective on Marathon Petroleum from $235.00 to $257.00 in a research note on Wednesday, May 6th. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $312.50.

Marathon Petroleum Price Performance

MPC stock opened at $359.78 on Tuesday. The business has a 50-day simple moving average of $289.19 and a two-hundred day simple moving average of $249.51. Marathon Petroleum Corporation has a 52-week low of $160.87 and a 52-week high of $363.34. The company has a market capitalization of $105.03 billion, a P/E ratio of 12.37, 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 quick ratio of 0.89 and a current ratio of 1.25.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results 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 return on equity of 31.96% and a net margin of 5.48%.The business had revenue of $51.99 billion during the quarter, compared to analyst estimates of $40.87 billion. During the same period in the prior year, the firm posted $3.96 EPS. Marathon Petroleum’s quarterly revenue was up 53.5% compared to the same quarter last year. Research analysts expect that Marathon Petroleum Corporation will post 46.66 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

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

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of the business’s 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 sale, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Shawn M. Lyon sold 2,500 shares of the business’s 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 sale, the senior vice president owned 12,619 shares in the company, valued at $4,416,650. This represents 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 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.