Hudson Edge Investment Partners Inc. Lowers Stake in Marathon Petroleum Corporation $MPC

Hudson Edge Investment Partners Inc. reduced its position in Marathon Petroleum Corporation (NYSE:MPC) by 76.9% in the first quarter, HoldingsChannel.com reports. The firm owned 7,253 shares of the oil and gas company’s stock after selling 24,111 shares during the period. Hudson Edge Investment Partners Inc.’s holdings in Marathon Petroleum were worth $1,771,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Navalign LLC bought a new stake in shares of Marathon Petroleum during the 4th quarter valued at $30,000. Kohmann Bosshard Financial Services LLC bought a new position in Marathon Petroleum in the 4th quarter worth $31,000. Berbice Capital Management LLC increased its stake in 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 worth $33,000 after buying an additional 100 shares in the last quarter. WFA of San Diego LLC purchased a new stake in Marathon Petroleum in the 2nd quarter worth $33,000. Finally, Ares Financial Consulting LLC bought a new stake in Marathon Petroleum during the fourth quarter valued at about $34,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction that occurred 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 sale, the vice president owned 16,900 shares of the company’s stock, valued at $4,543,058. The trade was a 27.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.17% of the stock is currently owned by insiders.

Analyst Ratings Changes

MPC has been the topic of several research analyst reports. Jefferies Financial Group boosted their price objective on Marathon Petroleum from $279.00 to $296.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Citigroup lifted their target price on Marathon Petroleum from $243.00 to $257.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Bank of America boosted their price target on Marathon Petroleum from $224.00 to $260.00 in a report on Tuesday, May 26th. TD Cowen dropped their price target on Marathon Petroleum from $320.00 to $315.00 and set a “buy” rating for the company in a research note on Monday, June 29th. Finally, Weiss Ratings lowered shares of Marathon Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Ten investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $272.62.

Marathon Petroleum Stock Up 0.1%

MPC opened at $266.50 on Friday. The firm has a 50-day simple moving average of $252.10 and a two-hundred day simple moving average of $218.93. 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 $77.80 billion, a PE ratio of 17.40, a price-to-earnings-growth ratio of 0.39 and a beta of 0.52. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last issued its 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 for the quarter, compared to analysts’ expectations of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The business’s revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.24) earnings per share. Analysts forecast that Marathon Petroleum Corporation will post 32.96 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.5%. The ex-dividend date was Wednesday, May 20th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 26.11%.

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.