2,544 Shares in Marathon Petroleum Corporation $MPC Bought by L2 Asset Management LLC

L2 Asset Management LLC acquired a new stake in Marathon Petroleum Corporation (NYSE:MPC) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,544 shares of the oil and gas company’s stock, valued at approximately $650,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Energy Income Partners LLC acquired a new stake in shares of Marathon Petroleum in the 2nd quarter valued at approximately $4,912,000. Evolve Private Wealth LLC acquired a new position in Marathon Petroleum during the second quarter valued at approximately $673,000. Pictet Asset Management Holding SA increased its stake in Marathon Petroleum by 31.0% in the first quarter. Pictet Asset Management Holding SA now owns 213,545 shares of the oil and gas company’s stock valued at $52,146,000 after purchasing an additional 50,521 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in Marathon Petroleum by 570.7% in the first 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 purchasing an additional 143,500 shares during the period. Finally, North Dakota State Investment Board bought a new position in shares of Marathon Petroleum during the fourth quarter worth $1,714,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Transactions at Marathon Petroleum

In other news, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were 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 of the company’s stock, valued at $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Shawn M. Lyon sold 2,500 shares of the 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 transaction, the senior vice president owned 12,619 shares of the company’s stock, valued at $4,416,650. The trade was a 16.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 26,032 shares of company stock valued at $8,744,213 over the last 90 days. 0.17% of the stock is owned by corporate insiders.

Marathon Petroleum Stock Down 2.0%

MPC stock opened at $355.31 on Wednesday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89. The stock has a market capitalization of $103.73 billion, a P/E ratio of 12.21, a P/E/G 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. The business has a 50-day moving average of $301.58 and a 200-day moving average of $257.14.

Marathon Petroleum (NYSE:MPC) last released its earnings results 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 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 quarter in the previous year, the business posted $3.96 EPS. The business’s quarterly revenue was up 53.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Marathon Petroleum Corporation will post 46.66 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MPC shares. 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. Mizuho lifted their target price on Marathon Petroleum from $284.00 to $304.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Bank of America boosted their target price on Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. Morgan Stanley increased their price target on Marathon Petroleum from $233.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Finally, The Goldman Sachs Group lifted their price target on shares of Marathon Petroleum from $291.00 to $376.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Twelve research 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 a consensus rating of “Moderate Buy” and a consensus 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.