WealthShield Partners LLC acquired a new position in Marathon Petroleum Corporation (NYSE:MPC – Free Report) in the 2nd quarter, Holdings Channel reports. The firm acquired 7,317 shares of the oil and gas company’s stock, valued at approximately $1,871,000.
A number of other hedge funds have also made changes to their positions in MPC. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Marathon Petroleum by 3.2% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,288 shares of the oil and gas company’s stock valued at $329,000 after acquiring an additional 40 shares in the last quarter. Equitable Trust Co. raised its position in Marathon Petroleum by 1.6% in the first quarter. Equitable Trust Co. now owns 2,637 shares of the oil and gas company’s stock valued at $644,000 after purchasing an additional 42 shares during the period. Bartlett & CO. Wealth Management LLC raised its position in Marathon Petroleum by 0.4% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 9,548 shares of the oil and gas company’s stock valued at $2,411,000 after purchasing an additional 42 shares during the period. Wellington Grp LLC lifted its stake in shares of Marathon Petroleum by 9.6% during the first quarter. Wellington Grp LLC now owns 516 shares of the oil and gas company’s stock worth $126,000 after purchasing an additional 45 shares in the last quarter. Finally, Avior Wealth Management LLC grew its stake in shares of Marathon Petroleum by 2.2% in the second quarter. Avior Wealth Management LLC now owns 2,108 shares of the oil and gas company’s stock valued at $539,000 after buying an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.
Insider Activity
In other news, SVP Shawn M. Lyon sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $350.00, for a total transaction of $875,000.00. Following the completion of the transaction, the senior vice president owned 12,619 shares in the company, valued at approximately $4,416,650. This represents a 16.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the transaction, the vice president directly owned 16,900 shares of the company’s stock, valued at $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.17% of the stock is currently owned by corporate insiders.
Marathon Petroleum Price Performance
Marathon Petroleum (NYSE:MPC – Get Free Report) last released its earnings results 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. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The firm had revenue of $51.99 billion during the quarter, compared to analyst estimates of $40.87 billion. During the same quarter in the previous year, the firm earned $3.96 earnings per share. The firm’s revenue for the quarter was up 53.5% compared to the same quarter last year. As a group, analysts forecast that Marathon Petroleum Corporation will post 46.66 EPS for the current year.
Marathon Petroleum Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid 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 is presently 13.75%.
Analysts Set New Price Targets
Several brokerages recently commented on MPC. JPMorgan Chase & Co. raised their target price on Marathon Petroleum from $235.00 to $257.00 in a report on Wednesday, May 6th. Jefferies Financial Group set a $335.00 price target on Marathon Petroleum and gave the stock a “buy” rating in a report on Sunday, July 12th. TD Cowen increased their price objective on shares of Marathon Petroleum from $357.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. 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, Raymond James Financial boosted their target price on shares of Marathon Petroleum from $300.00 to $335.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Twelve equities research 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 a consensus target price of $312.50.
Get Our Latest Stock Analysis on MPC
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.
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