Coastal Bridge Advisors LLC Takes $751,000 Position in Marathon Petroleum Corporation $MPC

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

Several other large investors have also recently added to or reduced their stakes in MPC. BlackRock Inc. bought a new position in shares of Marathon Petroleum in the second quarter worth $6,648,958,000. Bank of New York Mellon Corp acquired a new position in shares of Marathon Petroleum during the second quarter valued at $1,029,611,000. Norges Bank bought a new stake in shares of Marathon Petroleum during the fourth quarter valued at about $472,312,000. Bank of America Corp DE bought a new stake in shares of Marathon Petroleum during the second quarter valued at about $621,832,000. Finally, Capital Wealth Planning LLC lifted its holdings in Marathon Petroleum by 49,392.0% in the fourth quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock worth $245,157,000 after purchasing an additional 1,495,097 shares during the period. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Mizuho raised their target price on shares of Marathon Petroleum from $284.00 to $304.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Morgan Stanley upped their price target on shares of Marathon Petroleum from $233.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. Zacks Research cut shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 17th. Wall Street Zen upgraded shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. Finally, Evercore set a $330.00 target price on Marathon Petroleum in a report on Wednesday, August 5th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and an average target price of $312.50.

Insiders Place Their Bets

In other news, insider Molly R. Benson sold 17,196 shares of the business’s stock in a transaction 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 directly owned 30,334 shares of the company’s stock, valued at $10,876,862.38. The trade was a 36.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Michael A. Henschen II sold 6,336 shares of the company’s stock in a transaction on 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 sale, the vice president directly owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. This represents a 27.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 26,032 shares of company stock worth $8,744,213. 0.17% of the stock is owned by insiders.

Marathon Petroleum Price Performance

Shares of Marathon Petroleum stock opened at $369.00 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19. The company’s 50-day moving average price is $308.87 and its two-hundred day moving average price is $260.20. Marathon Petroleum Corporation has a 52 week low of $161.93 and a 52 week high of $369.12. The stock has a market cap of $107.73 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 0.24 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, beating 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 business’s revenue for the quarter was up 53.5% on a year-over-year basis. During the same quarter last year, the firm posted $3.96 EPS. As a group, sell-side analysts anticipate 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. Investors of record on Wednesday, August 19th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 13.75%.

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.