2,997 Shares in Marathon Petroleum Corporation $MPC Acquired by Perigon Wealth Management LLC

Perigon Wealth Management LLC acquired a new stake in Marathon Petroleum Corporation (NYSE:MPC) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 2,997 shares of the oil and gas company’s stock, valued at approximately $766,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MPC. Commerzbank Aktiengesellschaft FI acquired a new stake in Marathon Petroleum during the 2nd quarter worth $545,000. Phillips Wealth Planners LLC acquired a new stake in shares of Marathon Petroleum in the second quarter valued at about $298,000. Trust Co. of Vermont purchased a new position in shares of Marathon Petroleum in the second quarter worth about $1,246,000. Principle Wealth Partners LLC purchased a new position in shares of Marathon Petroleum in the second quarter worth about $231,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Marathon Petroleum during the second quarter worth about $181,972,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Up 2.4%

Shares of NYSE MPC opened at $366.79 on Wednesday. The company has a market capitalization of $107.08 billion, a P/E ratio of 12.61, 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. The company has a 50 day simple moving average of $291.36 and a 200-day simple moving average of $250.88. Marathon Petroleum Corporation has a 1 year low of $161.80 and a 1 year high of $367.24.

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, beating analysts’ consensus estimates of $14.27 by $3.46. The firm had revenue of $51.99 billion for the quarter, compared to analysts’ expectations of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The firm’s quarterly revenue was up 53.5% on a year-over-year basis. During the same period in the prior year, the firm posted $3.96 earnings per share. On average, equities research analysts predict that Marathon Petroleum Corporation will post 46.66 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid a $1.00 dividend. 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 13.75%.

Insiders Place Their Bets

In other news, 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 completion of the transaction, the senior vice president directly owned 12,619 shares in the company, valued at approximately $4,416,650. This represents a 16.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $1,703,243.52. Following the completion of the sale, the vice president owned 16,900 shares in the company, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Evercore set a $330.00 price objective on shares of Marathon Petroleum in a research note on Wednesday, August 5th. Weiss Ratings upgraded Marathon Petroleum from a “hold (c+)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. Zacks Research lowered Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 17th. Raymond James Financial increased their price target on Marathon Petroleum from $300.00 to $335.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Finally, The Goldman Sachs Group lifted their price objective on Marathon Petroleum from $291.00 to $376.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and a consensus 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.