Gallacher Capital Management LLC purchased a new position in Marathon Petroleum Corporation (NYSE:MPC – Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 4,979 shares of the oil and gas company’s stock, valued at approximately $1,216,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of MPC. Navalign LLC bought a new position in Marathon Petroleum during the 4th quarter worth approximately $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Marathon Petroleum in the 4th quarter valued at approximately $31,000. Berbice Capital Management LLC increased its holdings in shares of Marathon Petroleum by 100.0% in the 4th quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 100 shares during the last quarter. WFA of San Diego LLC acquired a new stake in shares of Marathon Petroleum during the 2nd quarter valued at approximately $33,000. Finally, Ares Financial Consulting LLC bought a new position in Marathon Petroleum during the fourth quarter worth $34,000. 76.77% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of analysts have weighed in on MPC shares. Wells Fargo & Company reissued an “overweight” rating and set a $344.00 target price on shares of Marathon Petroleum in a report on Monday, June 15th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, June 12th. Jefferies Financial Group set a $335.00 price objective on shares of Marathon Petroleum and gave the stock a “buy” rating in a research note on Sunday. TD Cowen lowered their target price on Marathon Petroleum from $320.00 to $315.00 and set a “buy” rating for the company in a report on Monday, June 29th. Finally, Morgan Stanley raised their price target on Marathon Petroleum from $233.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Ten investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $283.56.
Marathon Petroleum Price Performance
NYSE MPC opened at $306.39 on Friday. The company has a 50-day moving average price of $260.99 and a two-hundred day moving average price of $226.73. Marathon Petroleum Corporation has a 52 week low of $158.00 and a 52 week high of $308.42. The stock has a market cap of $89.45 billion, a price-to-earnings ratio of 20.00, a price-to-earnings-growth ratio of 0.40 and a beta of 0.52. The company has a current ratio of 1.18, a quick ratio of 0.73 and a debt-to-equity ratio of 1.31.
Marathon Petroleum (NYSE:MPC – Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.91. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The company had revenue of $34.20 billion for the quarter, compared to analysts’ expectations of $33.42 billion. During the same quarter in the previous year, the company posted ($0.24) earnings per share. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. Analysts forecast that Marathon Petroleum Corporation will post 35.82 EPS for the current year.
Marathon Petroleum Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Wednesday, May 20th. Marathon Petroleum’s payout ratio is 26.11%.
Insider Activity
In other news, VP Michael A. Henschen II sold 6,336 shares of the 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 completion of the transaction, the vice president 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.17% of the company’s stock.
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.
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