Empowered Funds LLC Makes New Investment in Marathon Petroleum Corporation $MPC

Empowered Funds LLC acquired a new stake in Marathon Petroleum Corporation (NYSE:MPC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 219,714 shares of the oil and gas company’s stock, valued at approximately $56,174,000. Empowered Funds LLC owned 0.08% of Marathon Petroleum as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. acquired a new position in Marathon Petroleum in the 2nd quarter valued at about $6,648,958,000. State Street Corp lifted its position in Marathon Petroleum by 0.3% during the 4th quarter. State Street Corp now owns 17,934,327 shares of the oil and gas company’s stock worth $2,916,660,000 after acquiring an additional 47,896 shares during the period. Boston Partners lifted its position in Marathon Petroleum by 2.3% during the 3rd quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company’s stock worth $1,214,522,000 after acquiring an additional 141,691 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Marathon Petroleum in the 2nd quarter valued at approximately $1,029,611,000. Finally, Norges Bank acquired a new position in shares of Marathon Petroleum in the fourth quarter valued at approximately $472,312,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Barclays upped their price target on Marathon Petroleum from $289.00 to $321.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Morgan Stanley boosted their price objective on shares of Marathon Petroleum from $233.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. TD Cowen upped their price objective on shares of Marathon Petroleum from $357.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Jefferies Financial Group set a $335.00 target price on shares of Marathon Petroleum and gave the stock a “buy” rating in a research note on Sunday, July 12th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Marathon Petroleum from $235.00 to $257.00 in a research note on Wednesday, May 6th. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $312.50.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $363.23 on Friday. The firm’s fifty day simple moving average is $306.35 and its 200-day simple moving average is $259.44. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. The stock has a market cap of $106.04 billion, a PE ratio of 12.49, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52. Marathon Petroleum Corporation has a fifty-two week low of $161.93 and a fifty-two week high of $367.60.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, beating the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The firm had revenue of $51.99 billion during the quarter, compared to analysts’ expectations of $40.87 billion. During the same quarter last year, the business earned $3.96 earnings per share. The business’s revenue for the quarter was up 53.5% compared to the same quarter last year. Analysts expect that Marathon Petroleum Corporation will post 46.66 earnings per share 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. Stockholders of record on Wednesday, August 19th will be given a dividend of $1.00 per share. 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 presently 13.75%.

Insider Transactions at Marathon Petroleum

In related news, SVP Shawn M. Lyon sold 2,500 shares of Marathon Petroleum stock in a transaction 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 completion of the transaction, the senior vice president directly owned 12,619 shares of the company’s stock, valued at approximately $4,416,650. The trade was a 16.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Michael A. Henschen II sold 6,336 shares of the business’s 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. The trade was a 27.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 26,032 shares of company stock valued at $8,744,213 in the last quarter. 0.17% of the stock is currently owned by corporate insiders.

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.