4,979 Shares in Marathon Petroleum Corporation $MPC Acquired by Gallacher Capital Management LLC

Key Points

• Gallacher Capital Management disclosed a new first-quarter position in Marathon Petroleum, buying 4,979 shares valued at about $1.216 million.
• Marathon Petroleum reported strong quarterly results, with EPS of $1.65 versus estimates of $0.74 and revenue of $34.2 billion, up 8.5% year over year.
• The company also paid a quarterly dividend of $1.00 per share and has seen mixed analyst sentiment, with an average rating of Moderate Buy and an average price target of $283.56.

Gallacher Capital Management LLC acquired a new position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,979 shares of the oil and gas company's stock, valued at approximately $1,216,000.

A number of other hedge funds have also made changes to their positions in the business. Navalign LLC purchased a new stake in Marathon Petroleum during the 4th quarter worth $30,000. Kohmann Bosshard Financial Services LLC purchased a new position in Marathon Petroleum in the fourth quarter valued at about $31,000. Berbice Capital Management LLC raised its position in Marathon Petroleum by 100.0% in the fourth quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company's stock valued at $33,000 after purchasing an additional 100 shares during the period. WFA of San Diego LLC acquired a new position in shares of Marathon Petroleum during the second quarter worth about $33,000. Finally, Ares Financial Consulting LLC acquired a new position in shares of Marathon Petroleum during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 76.77% of the company's stock.

Insider Activity at Marathon Petroleum

In other news, VP Michael A. Henschen II sold 6,336 shares of the firm's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.17% of the company's stock.

Marathon Petroleum Stock Up 2.4%

Shares of NYSE MPC opened at $306.39 on Friday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18. Marathon Petroleum Corporation has a 1 year low of $158.00 and a 1 year high of $308.42. The stock's 50-day simple moving average is $260.99 and its 200-day simple moving average is $226.73. The firm has a market cap of $89.45 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 0.40 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.91. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The firm had revenue of $34.20 billion during the quarter, compared to the consensus estimate of $33.42 billion. During the same quarter in the prior year, the business posted ($0.24) earnings per share. Marathon Petroleum's revenue for the quarter was up 8.5% on a year-over-year basis. As a group, equities analysts anticipate that Marathon Petroleum Corporation will post 35.82 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Wednesday, May 20th. Marathon Petroleum's dividend payout ratio is 26.11%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Morgan Stanley increased their target price on Marathon Petroleum from $233.00 to $265.00 and gave the company an "overweight" rating in a research note on Friday, June 12th. Wells Fargo & Company restated an "overweight" rating and issued a $344.00 price target on shares of Marathon Petroleum in a report on Monday, June 15th. Citigroup increased their price objective on shares of Marathon Petroleum from $257.00 to $303.00 and gave the company a "neutral" rating in a research report on Tuesday. Zacks Research lowered shares of Marathon Petroleum from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 17th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. Ten investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $283.56.

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.

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