Henson Edgewater Management LLC Acquires Shares of 2,795 Marathon Petroleum Corporation $MPC

Henson Edgewater Management LLC acquired a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,795 shares of the oil and gas company’s stock, valued at approximately $973,000.

Other hedge funds also recently made changes to their positions in the company. Energy Income Partners LLC acquired a new position in shares of Marathon Petroleum during the second quarter worth $4,912,000. Evolve Private Wealth LLC acquired a new stake in shares of Marathon Petroleum during the 2nd quarter valued at $673,000. Pictet Asset Management Holding SA grew its position in Marathon Petroleum by 31.0% during the 1st quarter. Pictet Asset Management Holding SA now owns 213,545 shares of the oil and gas company’s stock worth $52,146,000 after acquiring an additional 50,521 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in Marathon Petroleum by 570.7% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 168,644 shares of the oil and gas company’s stock worth $41,180,000 after acquiring an additional 143,500 shares during the last quarter. Finally, North Dakota State Investment Board acquired a new position in Marathon Petroleum in the 4th quarter worth about $1,714,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. BMO Capital Markets reiterated an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, June 12th. Barclays upped 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. The Goldman Sachs Group raised their price objective on shares of Marathon Petroleum from $291.00 to $376.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Wall Street Zen raised shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 10th. Finally, Weiss Ratings upgraded shares of Marathon Petroleum from a “hold (c+)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $312.50.

Insider Activity

In other news, SVP Shawn M. Lyon sold 2,500 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $350.00, for a total transaction of $875,000.00. Following the transaction, the senior vice president owned 12,619 shares of the company’s stock, valued at $4,416,650. This represents a 16.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Molly R. Benson sold 17,196 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $358.57, for a total value of $6,165,969.72. Following the completion of the sale, the insider owned 30,334 shares of the company’s stock, valued at approximately $10,876,862.38. This represents a 36.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 26,032 shares of company stock worth $8,744,213. Company insiders own 0.17% of the company’s stock.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $369.00 on Friday. The company has a fifty day moving average of $308.87 and a 200-day moving average of $260.20. The firm has a market capitalization of $107.73 billion, a P/E ratio of 12.68, a P/E/G ratio of 0.24 and a beta of 0.52. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. Marathon Petroleum Corporation has a twelve month low of $161.93 and a twelve month high of $369.12.

Marathon Petroleum (NYSE:MPC) last issued its 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%. Marathon Petroleum’s revenue was up 53.5% on a year-over-year basis. During the same period in the prior year, the firm earned $3.96 earnings per share. As a group, sell-side analysts anticipate that Marathon Petroleum Corporation will post 46.66 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a dividend of $1.00 per share. The ex-dividend date 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%.

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.