Redwood Investment Management LLC Buys New Shares in Marathon Petroleum Corporation $MPC

Redwood Investment Management LLC bought a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,525 shares of the oil and gas company’s stock, valued at approximately $1,157,000.

A number of other hedge funds have also recently bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB increased its position in shares of Marathon Petroleum by 3.2% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,288 shares of the oil and gas company’s stock worth $329,000 after purchasing an additional 40 shares during the last quarter. Equitable Trust Co. boosted its holdings in shares of Marathon Petroleum by 1.6% in the 1st 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 boosted its holdings in shares of Marathon Petroleum by 0.4% in the 1st 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 grew 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 valued at $126,000 after buying an additional 45 shares in the last quarter. Finally, Avior Wealth Management LLC increased its holdings 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 buying an additional 46 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Mizuho upped their price target on shares of Marathon Petroleum from $284.00 to $304.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. TD Cowen lifted their price objective on shares of Marathon Petroleum from $357.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Bank of America boosted their price objective on shares of Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. 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 report on Friday, June 12th. Finally, The Goldman Sachs Group raised their target price on shares of Marathon Petroleum from $291.00 to $376.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $312.50.

Marathon Petroleum Trading Up 0.3%

Shares of Marathon Petroleum stock opened at $363.23 on Friday. The business has a fifty day simple moving average of $306.35 and a two-hundred day simple moving average of $259.44. Marathon Petroleum Corporation has a 1 year low of $161.93 and a 1 year high of $367.60. The company has a market capitalization of $106.04 billion, a price-to-earnings ratio of 12.49, a P/E/G ratio of 0.23 and a beta of 0.52. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, topping analysts’ consensus estimates of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The firm had revenue of $51.99 billion during the quarter, compared to analysts’ expectations of $40.87 billion. During the same period in the previous year, the business posted $3.96 earnings per share. The company’s revenue for the quarter was up 53.5% compared to the same quarter last year. Research analysts forecast that Marathon Petroleum Corporation will post 46.66 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. Marathon Petroleum’s payout ratio is presently 13.75%.

Insider Buying and Selling

In related news, 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 value of $875,000.00. Following the transaction, the senior vice president owned 12,619 shares in the company, valued at approximately $4,416,650. This represents a 16.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction dated 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 transaction, the vice president directly owned 16,900 shares in the company, valued at approximately $4,543,058. This represents a 27.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 26,032 shares of company stock valued at $8,744,213. Company insiders own 0.17% of the company’s stock.

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.