Geneva Partners LLC Takes $5.42 Million Position in Marathon Petroleum Corporation $MPC

Geneva Partners LLC acquired a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 22,218 shares of the oil and gas company’s stock, valued at approximately $5,425,000. Marathon Petroleum accounts for about 2.6% of Geneva Partners LLC’s holdings, making the stock its 16th largest holding.

Several other institutional investors have also recently bought and sold shares of MPC. Addison Capital Co acquired a new position in Marathon Petroleum during the 1st quarter worth $289,000. Pioneer Trust Bank N A OR bought a new position in shares of Marathon Petroleum in the first quarter worth about $217,000. Resonant Capital Advisors LLC lifted its position in shares of Marathon Petroleum by 0.9% during the 1st quarter. Resonant Capital Advisors LLC now owns 21,596 shares of the oil and gas company’s stock worth $5,273,000 after purchasing an additional 184 shares during the last quarter. United Asset Strategies Inc. bought a new stake in Marathon Petroleum during the 1st quarter valued at approximately $221,000. Finally, Sather Financial Group Inc acquired a new stake in Marathon Petroleum in the 1st quarter valued at approximately $257,000. Institutional investors own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Raymond James Financial upped their price target on Marathon Petroleum from $285.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, June 10th. JPMorgan Chase & Co. boosted their target price on shares of Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. Wells Fargo & Company reissued an “overweight” rating and issued a $344.00 price target on shares of Marathon Petroleum in a report on Monday, June 15th. Bank of America raised their price target on shares of Marathon Petroleum from $224.00 to $260.00 in a research report on Tuesday, May 26th. Finally, The Goldman Sachs Group upped their price objective on shares of Marathon Petroleum from $264.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $272.62.

Insider Activity at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the transaction, the vice president owned 16,900 shares in the company, valued at $4,543,058. This trade represents a 27.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is owned by company insiders.

Marathon Petroleum Price Performance

NYSE:MPC opened at $266.29 on Wednesday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18. The company has a 50-day moving average of $253.90 and a 200-day moving average of $220.46. Marathon Petroleum Corporation has a 52 week low of $158.00 and a 52 week high of $272.46. The company has a market capitalization of $77.74 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 0.39 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.91. The firm had revenue of $34.20 billion during the quarter, compared to analyst estimates of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.24) earnings per share. As a group, equities research analysts anticipate that Marathon Petroleum Corporation will post 32.96 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were issued a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.5%. Marathon Petroleum’s dividend payout ratio is presently 26.11%.

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.