RW Investment Management LLC Acquires Shares of 2,815 Marathon Petroleum Corporation $MPC

Key Points

• RW Investment Management initiated a Marathon Petroleum stake of 2,815 shares valued at approximately $720,000 in the second quarter. Institutional investors collectively own 76.77% of MPC.
• Marathon Petroleum reported strong quarterly results, with earnings of $17.73 per share versus the $14.27 consensus estimate and revenue of $51.99 billion, up 53.5% year over year.
• The company declared a quarterly dividend of $1.00 per share, equivalent to $4.00 annually and a 1.1% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $312.50.

RW Investment Management LLC bought a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,815 shares of the oil and gas company's stock, valued at approximately $720,000.

A number of other hedge funds also recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB grew its position in Marathon Petroleum by 3.2% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,288 shares of the oil and gas company's stock valued at $329,000 after buying an additional 40 shares during the period. Equitable Trust Co. raised its position in Marathon Petroleum by 1.6% in the first quarter. Equitable Trust Co. now owns 2,637 shares of the oil and gas company's stock worth $644,000 after acquiring an additional 42 shares during the period. Bartlett & CO. Wealth Management LLC boosted its stake in Marathon Petroleum by 0.4% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 9,548 shares of the oil and gas company's stock valued at $2,411,000 after acquiring an additional 42 shares during the last quarter. Wellington Grp LLC grew its position in shares of Marathon Petroleum by 9.6% during the 1st quarter. Wellington Grp LLC now owns 516 shares of the oil and gas company's stock valued at $126,000 after acquiring an additional 45 shares during the period. Finally, Avior Wealth Management LLC grew its position in shares of Marathon Petroleum by 2.2% during the 2nd quarter. Avior Wealth Management LLC now owns 2,108 shares of the oil and gas company's stock valued at $539,000 after acquiring an additional 46 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Stock Performance

Shares of MPC opened at $355.61 on Monday. Marathon Petroleum Corporation has a 52-week low of $160.87 and a 52-week high of $360.10. The stock's 50-day simple moving average is $287.31 and its 200 day simple moving average is $248.19. 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 price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, beating the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The firm had revenue of $51.99 billion for the quarter, compared to analysts' expectations of $40.87 billion. During the same period in the prior year, the business posted $3.96 earnings per share. The company's revenue was up 53.5% on a year-over-year basis. Research analysts forecast that Marathon Petroleum Corporation will post 46.66 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company 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 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 19th. Marathon Petroleum's dividend payout ratio (DPR) is presently 13.75%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MPC shares. Jefferies Financial Group set a $335.00 price target on shares of Marathon Petroleum and gave the stock a "buy" rating in a report on Sunday, July 12th. Citigroup raised their target price on Marathon Petroleum from $303.00 to $318.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. TD Cowen increased their price target on Marathon Petroleum from $357.00 to $375.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Barclays boosted their price objective on Marathon Petroleum from $289.00 to $321.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Finally, UBS Group reiterated a "buy" rating and set a $321.00 target price on shares of Marathon Petroleum in a research report on Friday, July 10th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Marathon Petroleum currently has a consensus rating of "Moderate Buy" and an average target price of $312.50.

Insider Buying and Selling at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of the 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 in the company, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.17% of the company's stock.

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.

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