Empowered Funds LLC Buys Shares of 219,714 Marathon Petroleum Corporation $MPC

Empowered Funds LLC bought 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 Securities and Exchange Commission (SEC). The fund bought 219,714 shares of the oil and gas company’s stock, valued at approximately $56,174,000.

Several other large investors have also modified their holdings of MPC. Solstein Capital LLC acquired a new position in shares of Marathon Petroleum during the 2nd quarter worth approximately $26,000. Caitlin John LLC acquired a new stake in Marathon Petroleum during the 2nd quarter valued at $26,000. Bell Investment Advisors Inc purchased a new position in Marathon Petroleum during the second quarter worth $27,000. Navalign LLC purchased a new position in Marathon Petroleum during the fourth quarter worth $30,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Marathon Petroleum in the fourth quarter worth $31,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Marathon Petroleum

In other news, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction dated 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 transaction, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. This trade represents a 27.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Shawn M. Lyon sold 2,500 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $350.00, for a total transaction of $875,000.00. Following the sale, the senior vice president directly owned 12,619 shares of the company’s stock, valued at approximately $4,416,650. This trade represents a 16.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 26,032 shares of company stock worth $8,744,213 in the last ninety days. Insiders own 0.17% of the company’s stock.

Marathon Petroleum Stock Up 0.3%

Shares of NYSE:MPC opened at $363.23 on Friday. 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 firm has a market cap of $106.04 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 0.23 and a beta of 0.52. The stock’s 50-day moving average price is $306.35 and its two-hundred day moving average price is $259.44. Marathon Petroleum Corporation has a 12-month low of $161.93 and a 12-month high of $367.60.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, beating analysts’ consensus estimates of $14.27 by $3.46. The company had revenue of $51.99 billion during the quarter, compared to the consensus estimate of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The company’s quarterly revenue was up 53.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.96 EPS. On average, research analysts forecast that Marathon Petroleum Corporation will post 46.66 EPS for the current year.

Marathon Petroleum Dividend Announcement

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 paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $4.00 dividend on an annualized basis and a yield of 1.1%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 13.75%.

Analyst Ratings Changes

A number of research firms recently commented on MPC. Morgan Stanley increased their price objective on Marathon Petroleum from $233.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. JPMorgan Chase & Co. boosted their target price on shares of Marathon Petroleum from $235.00 to $257.00 in a research note on Wednesday, May 6th. Raymond James Financial raised their price target on shares of Marathon Petroleum from $300.00 to $335.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Mizuho boosted their price objective on shares of Marathon Petroleum from $284.00 to $304.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Finally, Wells Fargo & Company raised their target price on shares of Marathon Petroleum from $344.00 to $359.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and an average 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.