L2 Asset Management LLC acquired a new position in shares of Marathon Petroleum Co. (NYSE:MPC – Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,201 shares of the oil and gas company’s stock, valued at approximately $297,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the company. First Bank & Trust lifted its position in shares of Marathon Petroleum by 2.4% during the 1st quarter. First Bank & Trust now owns 3,673 shares of the oil and gas company’s stock valued at $495,000 after acquiring an additional 87 shares during the period. James Investment Research Inc. raised its holdings in shares of Marathon Petroleum by 65.2% during the first quarter. James Investment Research Inc. now owns 228 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 90 shares during the period. Armstrong Advisory Group Inc. boosted its position in shares of Marathon Petroleum by 44.1% during the 1st quarter. Armstrong Advisory Group Inc. now owns 304 shares of the oil and gas company’s stock worth $41,000 after purchasing an additional 93 shares in the last quarter. First National Trust Co increased its position in Marathon Petroleum by 0.3% in the 1st quarter. First National Trust Co now owns 33,260 shares of the oil and gas company’s stock valued at $4,484,000 after buying an additional 100 shares in the last quarter. Finally, Confluence Wealth Services Inc. raised its stake in Marathon Petroleum by 0.4% during the 1st quarter. Confluence Wealth Services Inc. now owns 25,085 shares of the oil and gas company’s stock worth $3,382,000 after buying an additional 104 shares during the period. 74.93% of the stock is owned by institutional investors.
Insider Buying and Selling
In other news, COO Gregory Scott Floerke sold 8,189 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $145.80, for a total transaction of $1,193,956.20. Following the completion of the transaction, the chief operating officer now directly owns 28,633 shares of the company’s stock, valued at approximately $4,174,691.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Shawn M. Lyon sold 8,086 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $147.15, for a total value of $1,189,854.90. Following the sale, the senior vice president now directly owns 15,036 shares in the company, valued at approximately $2,212,547.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Gregory Scott Floerke sold 8,189 shares of Marathon Petroleum stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $145.80, for a total transaction of $1,193,956.20. Following the completion of the transaction, the chief operating officer now owns 28,633 shares of the company’s stock, valued at approximately $4,174,691.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,188 shares of company stock worth $3,890,973. Insiders own 0.28% of the company’s stock.
Wall Street Analysts Forecast Growth
Marathon Petroleum Stock Up 2.2 %
NYSE:MPC traded up $3.19 on Monday, hitting $145.96. The stock had a trading volume of 3,027,700 shares, compared to its average volume of 3,765,323. Marathon Petroleum Co. has a 1 year low of $89.40 and a 1 year high of $149.76. The firm’s fifty day simple moving average is $131.32 and its two-hundred day simple moving average is $124.13. The stock has a market cap of $58.36 billion, a P/E ratio of 5.30, a price-to-earnings-growth ratio of 1.13 and a beta of 1.62. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.30 and a current ratio of 1.84.
Marathon Petroleum (NYSE:MPC – Get Free Report) last issued its quarterly earnings results on Tuesday, August 1st. The oil and gas company reported $5.32 EPS for the quarter, topping analysts’ consensus estimates of $4.55 by $0.77. The business had revenue of $36.82 billion for the quarter, compared to analyst estimates of $32.60 billion. Marathon Petroleum had a return on equity of 36.33% and a net margin of 8.01%. Marathon Petroleum’s quarterly revenue was down 32.2% compared to the same quarter last year. During the same period last year, the company posted $10.61 earnings per share. Analysts predict that Marathon Petroleum Co. will post 21.49 earnings per share for the current year.
Marathon Petroleum Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Wednesday, August 16th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $3.00 annualized dividend and a yield of 2.06%. Marathon Petroleum’s payout ratio is currently 10.89%.
About Marathon Petroleum
Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.
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