J. Goldman & Co LP bought a new stake in Marathon Petroleum Corporation (NYSE:MPC – Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 45,855 shares of the oil and gas company’s stock, valued at approximately $11,724,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of MPC. Brighton Jones LLC grew its position in Marathon Petroleum by 30.9% in the fourth quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock valued at $696,000 after acquiring an additional 1,178 shares in the last quarter. Woodline Partners LP boosted its stake in shares of Marathon Petroleum by 38.3% in the first quarter. Woodline Partners LP now owns 26,697 shares of the oil and gas company’s stock valued at $3,889,000 after purchasing an additional 7,396 shares during the period. Sivia Capital Partners LLC grew its holdings in Marathon Petroleum by 26.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,221 shares of the oil and gas company’s stock valued at $369,000 after purchasing an additional 466 shares in the last quarter. Marshall Wace LLP purchased a new stake in Marathon Petroleum during the 2nd quarter worth $8,505,000. Finally, AXA S.A. increased its stake in Marathon Petroleum by 46.7% during the 2nd quarter. AXA S.A. now owns 39,675 shares of the oil and gas company’s stock worth $6,590,000 after buying an additional 12,639 shares during the period. 76.77% of the stock is owned by institutional investors and hedge funds.
Marathon Petroleum Stock Performance
Shares of MPC stock opened at $355.31 on Wednesday. The stock has a market capitalization of $103.73 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 0.23 and a beta of 0.52. Marathon Petroleum Corporation has a one year low of $161.93 and a one year high of $367.60. The company’s 50-day simple moving average is $301.58 and its 200-day simple moving average is $257.14. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25.
Marathon Petroleum Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio is currently 13.75%.
Insider Buying and Selling
In other Marathon Petroleum news, insider Molly R. Benson sold 17,196 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $358.57, for a total transaction of $6,165,969.72. Following the completion of the sale, the insider owned 30,334 shares in the company, valued at $10,876,862.38. The trade was a 36.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Shawn M. Lyon sold 2,500 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $350.00, for a total transaction of $875,000.00. Following the sale, the senior vice president directly owned 12,619 shares in the company, valued at $4,416,650. This trade represents a 16.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 26,032 shares of company stock worth $8,744,213 over the last ninety days. 0.17% of the stock is owned by insiders.
Wall Street Analyst Weigh In
MPC has been the subject of a number of analyst reports. Wall Street Zen raised shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. Raymond James Financial boosted their price target on Marathon Petroleum from $300.00 to $335.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. BMO Capital Markets reissued an “outperform” rating on shares of Marathon Petroleum in a report on Friday, June 12th. Piper Sandler raised their price objective on Marathon Petroleum from $343.00 to $344.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. upped their target price on Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $312.50.
Check Out Our Latest Analysis on MPC
About Marathon Petroleum
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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