Tocqueville Asset Management L.P. Purchases New Position in Marathon Petroleum Corporation $MPC

Tocqueville Asset Management L.P. purchased a new stake in Marathon Petroleum Corporation (NYSE:MPC) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 43,329 shares of the oil and gas company’s stock, valued at approximately $11,078,000.

Several other hedge funds have also recently bought and sold shares of the stock. Bell Investment Advisors Inc acquired a new position in shares of Marathon Petroleum in the second quarter valued at approximately $27,000. Navalign LLC acquired a new stake in Marathon Petroleum during the 4th quarter worth approximately $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in Marathon Petroleum in the 4th quarter valued at $31,000. Berbice Capital Management LLC grew its holdings in Marathon Petroleum by 100.0% in the 4th quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 100 shares in the last quarter. Finally, WFA of San Diego LLC acquired a new position in Marathon Petroleum in the 2nd quarter valued at $33,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Stock Down 1.4%

MPC stock opened at $361.02 on Thursday. The company has a market cap of $105.40 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 0.24 and a beta of 0.52. The business has a 50-day simple moving average of $293.31 and a 200 day simple moving average of $252.19. Marathon Petroleum Corporation has a 52 week low of $161.93 and a 52 week high of $367.24. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $40.87 billion. During the same period in the prior year, the company posted $3.96 earnings per share. The business’s revenue for the quarter was up 53.5% on a year-over-year basis. Sell-side analysts anticipate that Marathon Petroleum Corporation will post 46.66 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued 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 of this dividend is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio is 13.75%.

Insider Activity at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction that occurred 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 transaction, the vice president directly owned 16,900 shares of the company’s stock, valued at $4,543,058. This trade represents a 27.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Shawn M. Lyon sold 2,500 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, August 13th. The shares were 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 in the company, valued at $4,416,650. This trade represents a 16.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MPC shares. Wells Fargo & Company increased their price objective on Marathon Petroleum from $344.00 to $359.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. BMO Capital Markets restated an “outperform” rating on shares of Marathon Petroleum in a research note on Friday, June 12th. 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 report on Monday, July 13th. Citigroup lifted their price objective on shares of Marathon Petroleum from $303.00 to $318.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Finally, 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 report on Tuesday, August 11th. Twelve 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 target price of $312.50.

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.