J. Goldman & Co LP Purchases Shares of 45,855 Marathon Petroleum Corporation $MPC

Key Points

• J. Goldman & Co. LP acquired 45,855 Marathon Petroleum shares in the second quarter, valued at approximately $11.7 million. Other institutional investors also increased their positions, with institutions owning 76.77% of MPC.
• Marathon Petroleum reported quarterly EPS of $17.73, exceeding the $14.27 analyst consensus, while revenue rose 53.5% year over year to $51.99 billion.
• The company declared a quarterly dividend of $1.00, or $4.00 annualized, representing a 1.1% yield. Analysts maintain a “Moderate Buy” consensus, though the $312.50 average price target is below the reported share price of $355.31.

J. Goldman & Co LP bought a new stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 45,855 shares of the oil and gas company's stock, valued at approximately $11,724,000.

Several other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in Marathon Petroleum by 30.9% in the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company's stock valued at $696,000 after purchasing an additional 1,178 shares in the last quarter. Woodline Partners LP raised its stake in shares of Marathon Petroleum by 38.3% during the 1st quarter. Woodline Partners LP now owns 26,697 shares of the oil and gas company's stock worth $3,889,000 after buying an additional 7,396 shares in the last quarter. Sivia Capital Partners LLC raised its stake in shares of Marathon Petroleum by 26.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,221 shares of the oil and gas company's stock worth $369,000 after buying an additional 466 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Marathon Petroleum in the 2nd quarter valued at approximately $8,505,000. Finally, AXA S.A. boosted its stake in shares of Marathon Petroleum by 46.7% in the second quarter. AXA S.A. now owns 39,675 shares of the oil and gas company's stock valued at $6,590,000 after buying an additional 12,639 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company's stock.

Marathon Petroleum Stock Down 2.0%

Shares of NYSE MPC opened at $355.31 on Wednesday. The firm's 50-day moving average is $301.58 and its two-hundred day moving average is $257.14. The company has a market capitalization of $103.73 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52. Marathon Petroleum Corporation has a 12-month low of $161.93 and a 12-month high of $367.60. 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 - Get Free Report) last posted 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. The firm had revenue of $51.99 billion during 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% compared to the same quarter last year. During the same quarter last year, the business posted $3.96 EPS. Equities analysts anticipate that Marathon Petroleum Corporation will post 46.66 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum's dividend payout ratio (DPR) is 13.75%.

Insider Activity

In related news, insider Molly R. Benson sold 17,196 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $358.57, for a total value of $6,165,969.72. Following the transaction, the insider directly owned 30,334 shares of the company's stock, valued at approximately $10,876,862.38. This trade represents a 36.18% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $268.82, for a total value of $1,703,243.52. Following the completion of the transaction, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. This represents a 27.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 26,032 shares of company stock valued at $8,744,213 in the last ninety days. Company insiders own 0.17% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MPC. Citigroup increased their price objective on Marathon Petroleum from $303.00 to $318.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. Weiss Ratings raised shares of Marathon Petroleum from a "hold (c+)" rating to a "buy (b)" rating in a research note on Wednesday, August 5th. Jefferies Financial Group set a $335.00 price target on shares of Marathon Petroleum and gave the company a "buy" rating in a report on Sunday, July 12th. Piper Sandler boosted their price objective on shares of Marathon Petroleum from $343.00 to $344.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Finally, 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. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company 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.

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