Henson Edgewater Management LLC Buys New Shares in Marathon Petroleum Corporation $MPC

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

A number of other hedge funds also recently bought and sold shares of the stock. Beacon Pointe Advisors LLC purchased a new position in shares of Marathon Petroleum in the 2nd quarter valued at about $6,910,000. Kimelman & Baird LLC purchased a new stake in shares of Marathon Petroleum during the second quarter worth approximately $241,000. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Marathon Petroleum during the second quarter worth approximately $470,000. 49 Wealth Management LLC acquired a new stake in Marathon Petroleum in the second quarter valued at approximately $1,553,000. Finally, Rakuten Investment Management Inc. acquired a new stake in Marathon Petroleum in the second quarter valued at approximately $12,416,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on MPC. JPMorgan Chase & Co. boosted their price target on shares of Marathon Petroleum from $235.00 to $257.00 in a report on Wednesday, May 6th. UBS Group reissued a “buy” rating and issued a $321.00 price objective on shares of Marathon Petroleum in a research report on Friday, July 10th. BMO Capital Markets restated an “outperform” rating on shares of Marathon Petroleum in a report on Friday, June 12th. Weiss Ratings raised shares of Marathon Petroleum from a “hold (c+)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Finally, Barclays boosted their target price on shares of Marathon Petroleum from $289.00 to $321.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $312.50.

Marathon Petroleum Stock Performance

Shares of MPC opened at $369.00 on Friday. The company’s 50 day simple moving average is $308.87 and its 200-day simple moving average is $260.20. The firm has a market cap of $107.73 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 0.24 and a beta of 0.52. Marathon Petroleum Corporation has a 12-month low of $161.93 and a 12-month high of $369.12. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, topping analysts’ consensus estimates 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 in the prior year, the business earned $3.96 EPS. Marathon Petroleum’s quarterly revenue was up 53.5% compared to the same quarter last year. As a group, equities analysts predict that Marathon Petroleum Corporation will post 46.66 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid 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 13.75%.

Insider Transactions at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of the business’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 owned 16,900 shares in the company, valued at $4,543,058. The trade was a 27.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Molly R. Benson sold 17,196 shares of the company’s stock in a transaction that occurred on 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 sale, the insider directly 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. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 26,032 shares of company stock worth $8,744,213. Company insiders own 0.17% of the company’s stock.

About Marathon Petroleum

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.