Emerald Investment Advisers LLC Takes $10.13 Million Position in Marathon Petroleum Corporation $MPC

Emerald Investment Advisers LLC purchased a new position in Marathon Petroleum Corporation (NYSE:MPC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 39,635 shares of the oil and gas company’s stock, valued at approximately $10,133,000.

Other large investors also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB lifted its holdings in Marathon Petroleum by 3.2% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,288 shares of the oil and gas company’s stock valued at $329,000 after purchasing an additional 40 shares in the last quarter. Equitable Trust Co. increased its stake in shares of Marathon Petroleum by 1.6% during the first quarter. Equitable Trust Co. now owns 2,637 shares of the oil and gas company’s stock worth $644,000 after purchasing an additional 42 shares in the last quarter. Bartlett & CO. Wealth Management LLC raised its position in shares of Marathon Petroleum by 0.4% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 9,548 shares of the oil and gas company’s stock worth $2,411,000 after purchasing an additional 42 shares during the last quarter. Wellington Grp LLC raised its position in shares of Marathon Petroleum by 9.6% during the 1st quarter. Wellington Grp LLC now owns 516 shares of the oil and gas company’s stock worth $126,000 after purchasing an additional 45 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its stake in Marathon Petroleum by 2.2% in the 2nd quarter. Avior Wealth Management LLC now owns 2,108 shares of the oil and gas company’s stock valued at $539,000 after buying an additional 46 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Stock Up 1.1%

MPC stock opened at $362.18 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19. The firm has a 50-day moving average of $297.25 and a two-hundred day moving average of $254.23. Marathon Petroleum Corporation has a 12 month low of $161.93 and a 12 month high of $367.60. The company has a market cap of $105.73 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 0.23 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, topping the consensus estimate of $14.27 by $3.46. The business had revenue of $51.99 billion for the quarter, compared to analysts’ expectations of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The business’s revenue for the quarter was up 53.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.96 EPS. As a group, analysts forecast that Marathon Petroleum Corporation will post 46.66 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $4.00 dividend on an annualized basis and a yield of 1.1%. Marathon Petroleum’s payout ratio is 13.75%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MPC shares. TD Cowen lifted their price objective on Marathon Petroleum from $357.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Jefferies Financial Group set a $335.00 target price on Marathon Petroleum and gave the company a “buy” rating in a research report on Sunday, July 12th. Bank of America lifted their price target on Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. Weiss Ratings upgraded Marathon Petroleum from a “hold (c+)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Finally, Barclays increased their price objective on Marathon Petroleum from $289.00 to $321.00 and gave the company 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 given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $312.50.

Insiders Place Their Bets

In other news, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Shawn M. Lyon sold 2,500 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $350.00, for a total transaction of $875,000.00. Following the transaction, the senior vice president directly owned 12,619 shares in the company, valued at approximately $4,416,650. The trade was a 16.54% decrease in their position. The SEC filing for this sale provides additional information. 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.