Evolve Private Wealth LLC Takes $673,000 Position in Marathon Petroleum Corporation $MPC

Evolve Private Wealth LLC purchased a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,633 shares of the oil and gas company’s stock, valued at approximately $673,000.

Several other hedge funds have also recently added to or reduced their stakes in MPC. MassMutual Private Wealth & Trust FSB lifted its holdings in Marathon Petroleum by 3.2% in 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 purchasing an additional 40 shares in the last quarter. Equitable Trust Co. raised its position in shares of 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 buying an additional 42 shares during the last quarter. Bartlett & CO. Wealth Management LLC raised its position in shares of 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 buying an additional 42 shares during the last quarter. Wellington Grp LLC lifted its stake in shares of Marathon Petroleum by 9.6% in the first quarter. Wellington Grp LLC now owns 516 shares of the oil and gas company’s stock worth $126,000 after buying an additional 45 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its position in Marathon Petroleum by 2.2% during the second quarter. Avior Wealth Management LLC now owns 2,108 shares of the oil and gas company’s stock worth $539,000 after acquiring an additional 46 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, 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 value of $1,703,243.52. Following the sale, the vice president directly owned 16,900 shares in the company, valued at approximately $4,543,058. The trade was a 27.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 directly owned 12,619 shares in the company, valued at $4,416,650. The trade was a 16.54% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 26,032 shares of company stock valued at $8,744,213. 0.17% of the stock is currently owned by insiders.

Marathon Petroleum Stock Up 0.4%

MPC stock opened at $362.34 on Tuesday. Marathon Petroleum Corporation has a one year low of $161.93 and a one year high of $367.60. The firm has a market cap of $105.78 billion, a PE ratio of 12.46, a PEG ratio of 0.23 and a beta of 0.52. The firm’s 50 day moving average price is $299.48 and its 200-day moving average price is $256.01. 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 (NYSE:MPC) last posted its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The company had revenue of $51.99 billion during the quarter, compared to analysts’ expectations of $40.87 billion. During the same quarter last year, the firm earned $3.96 earnings per share. The firm’s quarterly revenue was up 53.5% compared to the same quarter last year. On average, equities research analysts anticipate that Marathon Petroleum Corporation will post 46.66 EPS for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 13.75%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Raymond James Financial upped their price objective on shares of Marathon Petroleum from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Barclays increased their price target on Marathon Petroleum from $289.00 to $321.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Bank of America boosted their price objective on Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. Citigroup upped their target price on Marathon Petroleum from $303.00 to $318.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Finally, Piper Sandler lifted their price target on Marathon Petroleum from $343.00 to $344.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Marathon Petroleum has an average rating of “Moderate Buy” and an average price target of $312.50.

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.