Pacer Advisors Inc. Invests $3.45 Million in Marathon Petroleum Corp (MPC) Stock

Pacer Advisors Inc. acquired a new position in Marathon Petroleum Corp (NYSE:MPC) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 57,566 shares of the oil and gas company’s stock, valued at approximately $3,445,000.

Several other large investors have also modified their holdings of MPC. Hanson McClain Inc. bought a new stake in shares of Marathon Petroleum during the fourth quarter valued at approximately $25,000. Certified Advisory Corp grew its holdings in shares of Marathon Petroleum by 71.2% in the fourth quarter. Certified Advisory Corp now owns 476 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 198 shares in the last quarter. Kistler Tiffany Companies LLC purchased a new position in shares of Marathon Petroleum in the fourth quarter valued at $30,000. SeaBridge Investment Advisors LLC purchased a new position in shares of Marathon Petroleum in the fourth quarter valued at $30,000. Finally, Berman Capital Advisors LLC purchased a new position in shares of Marathon Petroleum in the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 79.41% of the company’s stock.

In other news, CEO Gary R. Heminger sold 187,142 shares of Marathon Petroleum stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $65.00, for a total transaction of $12,164,230.00. Following the completion of the sale, the chief executive officer now directly owns 434,166 shares in the company, valued at $28,220,790. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.06% of the stock is currently owned by company insiders.

A number of research firms recently weighed in on MPC. Raymond James cut their target price on shares of Marathon Petroleum from $90.00 to $85.00 and set a “strong-buy” rating for the company in a report on Wednesday, April 10th. Macquarie began coverage on shares of Marathon Petroleum in a report on Tuesday, February 5th. They issued an “outperform” rating and a $67.18 target price for the company. Piper Jaffray Companies reissued an “overweight” rating on shares of Marathon Petroleum in a report on Thursday, January 10th. Citigroup cut their target price on shares of Marathon Petroleum from $91.00 to $85.00 and set a “buy” rating for the company in a report on Monday, March 4th. Finally, ValuEngine lowered shares of Marathon Petroleum from a “hold” rating to a “sell” rating in a research note on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $90.93.

NYSE MPC traded up $1.27 on Friday, hitting $59.96. 5,625,961 shares of the stock were exchanged, compared to its average volume of 6,357,343. The company has a quick ratio of 0.62, a current ratio of 1.36 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $40.39 billion, a price-to-earnings ratio of 8.84, a PEG ratio of 1.41 and a beta of 1.35. Marathon Petroleum Corp has a 52-week low of $54.29 and a 52-week high of $88.45.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Thursday, February 7th. The oil and gas company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.43. Marathon Petroleum had a return on equity of 14.14% and a net margin of 2.86%. The business had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $34.16 billion. During the same period last year, the company earned $1.05 earnings per share. The business’s revenue for the quarter was up 53.2% compared to the same quarter last year. Equities research analysts anticipate that Marathon Petroleum Corp will post 5.38 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be given a dividend of $0.53 per share. The ex-dividend date is Wednesday, May 15th. This represents a $2.12 annualized dividend and a dividend yield of 3.54%. Marathon Petroleum’s dividend payout ratio (DPR) is 31.27%.

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Marathon Petroleum Profile

Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Retail, and Midstream. The Refining & Marketing segment refines crude oil and other feed stocks at its 16 refineries in the West Coast, Gulf Coast, and Mid-Continent regions of the United States; and purchases refined products and ethanol for resale.

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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