Redwood Investment Management LLC Sells 3,464 Shares of Marathon Petroleum Corporation $MPC

Redwood Investment Management LLC lessened its stake in Marathon Petroleum Corporation (NYSE:MPC) by 44.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,351 shares of the oil and gas company’s stock after selling 3,464 shares during the period. Redwood Investment Management LLC’s holdings in Marathon Petroleum were worth $1,062,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several research firms have weighed in on MPC. JPMorgan Chase & Co. increased their target price on Marathon Petroleum from $235.00 to $257.00 in a research note on Wednesday, May 6th. Jefferies Financial Group set a $335.00 price target on Marathon Petroleum and gave the company a “buy” rating in a research note on Sunday, July 12th. The Goldman Sachs Group increased their price target on shares of Marathon Petroleum from $291.00 to $376.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Wells Fargo & Company restated an “overweight” rating and set a $344.00 price objective on shares of Marathon Petroleum in a report on Monday, June 15th. Finally, Morgan Stanley upped their target price on shares of Marathon Petroleum from $233.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Eleven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $298.69.

Marathon Petroleum Trading Down 0.1%

NYSE MPC opened at $316.25 on Monday. The firm has a market cap of $92.33 billion, a P/E ratio of 20.64, a P/E/G ratio of 0.20 and a beta of 0.52. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.18 and a quick ratio of 0.73. The stock’s 50-day moving average is $274.13 and its 200-day moving average is $237.86. Marathon Petroleum Corporation has a one year low of $158.00 and a one year high of $326.92.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The business had revenue of $34.20 billion during the quarter, compared to analyst estimates of $33.42 billion. During the same period in the previous year, the firm earned ($0.24) EPS. Marathon Petroleum’s quarterly revenue was up 8.5% compared to the same quarter last year. Sell-side analysts anticipate that Marathon Petroleum Corporation will post 43.19 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio is 26.11%.

Insider Buying and Selling at Marathon Petroleum

In other news, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction on 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 completion of the sale, the vice president owned 16,900 shares of the company’s stock, valued at $4,543,058. This represents a 27.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is owned by company insiders.

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.