RW Investment Management LLC Takes Position in Marathon Petroleum Corporation $MPC

RW Investment Management LLC bought a new position in Marathon Petroleum Corporation (NYSE:MPC) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,815 shares of the oil and gas company’s stock, valued at approximately $720,000.

Several other hedge funds have also recently added to or reduced their stakes in MPC. Bank of New York Mellon Corp purchased a new position in shares of Marathon Petroleum in the 2nd quarter worth about $1,029,611,000. Norges Bank purchased a new stake in Marathon Petroleum in the fourth quarter worth approximately $472,312,000. Capital Wealth Planning LLC raised its stake in shares of Marathon Petroleum by 49,392.0% during the fourth quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock worth $245,157,000 after acquiring an additional 1,495,097 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Marathon Petroleum by 3,816.8% in the 4th quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company’s stock worth $212,517,000 after acquiring an additional 1,273,386 shares during the last quarter. Finally, GHE LLC boosted its stake in shares of Marathon Petroleum by 1,939.8% in the 1st quarter. GHE LLC now owns 649,542 shares of the oil and gas company’s stock valued at $158,605,000 after purchasing an additional 617,699 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

MPC opened at $355.61 on Monday. The stock’s 50 day moving average price is $287.31 and its 200-day moving average price is $248.19. Marathon Petroleum Corporation has a 52-week low of $160.87 and a 52-week high of $360.10. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.25. The stock has a market capitalization of $103.82 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The company had revenue of $51.99 billion for the quarter, compared to analysts’ expectations of $40.87 billion. During the same quarter in the previous year, the company earned $3.96 earnings per share. Marathon Petroleum’s quarterly revenue was up 53.5% on a year-over-year basis. On average, equities research analysts predict that Marathon Petroleum Corporation will post 46.66 EPS for the current year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a $1.00 dividend. 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 dividend payout ratio is currently 13.75%.

Insider Activity at Marathon Petroleum

In related 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 transaction of $1,703,243.52. Following the sale, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.17% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on MPC shares. Wells Fargo & Company lifted their price objective on Marathon Petroleum from $344.00 to $359.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Evercore set a $330.00 price objective on Marathon Petroleum in a research report on Wednesday, August 5th. Citigroup lifted their target price on shares of Marathon Petroleum from $303.00 to $318.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Bank of America increased their price target on shares of Marathon Petroleum from $224.00 to $260.00 in a research report on Tuesday, May 26th. Finally, TD Cowen raised their price target on shares of Marathon Petroleum from $357.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $312.50.

About Marathon Petroleum

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.