Redwood Investment Management LLC Acquires Shares of 4,525 Marathon Petroleum Corporation $MPC

Redwood Investment Management LLC acquired 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 and Exchange Commission. The firm acquired 4,525 shares of the oil and gas company’s stock, valued at approximately $1,157,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Solstein Capital LLC bought a new position in Marathon Petroleum during the second quarter worth about $26,000. Bell Investment Advisors Inc bought a new stake in Marathon Petroleum in the 2nd quarter valued at about $27,000. Navalign LLC bought a new stake in Marathon Petroleum in the 4th quarter valued at about $30,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Marathon Petroleum during the 4th quarter worth approximately $31,000. Finally, WFA of San Diego LLC bought a new position in shares of Marathon Petroleum during the second quarter worth approximately $33,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $363.23 on Friday. The firm has a 50 day moving average of $306.35 and a 200-day moving average of $259.44. Marathon Petroleum Corporation has a 12 month low of $161.93 and a 12 month high of $367.60. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $106.04 billion, a PE ratio of 12.49, a PEG ratio of 0.23 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last posted its quarterly 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. The business had revenue of $51.99 billion for the quarter, compared to analyst estimates of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The firm’s revenue for the quarter was up 53.5% on a year-over-year basis. During the same quarter last year, the business posted $3.96 EPS. On average, equities research analysts predict that Marathon Petroleum Corporation will post 46.66 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MPC shares. Wall Street Zen upgraded shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. Bank of America raised their price objective on Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. TD Cowen lifted their price objective on Marathon Petroleum from $357.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Piper Sandler upped their target price on Marathon Petroleum from $343.00 to $344.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Finally, Citigroup increased their target price on Marathon Petroleum from $303.00 to $318.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and an average price target of $312.50.

Insider Buying and Selling at Marathon Petroleum

In other news, insider Molly R. Benson sold 17,196 shares of the business’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $358.57, for a total transaction of $6,165,969.72. Following the completion of the transaction, the insider owned 30,334 shares of the company’s stock, valued at approximately $10,876,862.38. The trade was a 36.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael A. Henschen II sold 6,336 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the sale, the vice president owned 16,900 shares of the company’s stock, 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 quarter, insiders have sold 26,032 shares of company stock valued at $8,744,213. 0.17% of the stock is currently owned by corporate 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.