Mystic Asset Management Inc. Purchases Shares of 8,609 Marathon Petroleum Corporation $MPC

Mystic Asset Management Inc. purchased a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) during the second quarter, Holdings Channel.com reports. The firm purchased 8,609 shares of the oil and gas company’s stock, valued at approximately $2,201,000.

Other hedge funds also recently modified their holdings of the company. Bell Investment Advisors Inc acquired a new position in shares of Marathon Petroleum during the 2nd quarter valued at $27,000. Navalign LLC acquired a new stake in Marathon Petroleum in the fourth quarter worth $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in Marathon Petroleum in the fourth quarter valued at $31,000. Berbice Capital Management LLC increased its stake in Marathon Petroleum by 100.0% in the fourth quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. Finally, WFA of San Diego LLC acquired a new position in shares of Marathon Petroleum during the second quarter valued at about $33,000. Institutional investors own 76.77% of the company’s stock.

Insider Buying and Selling at Marathon Petroleum

In related news, SVP Shawn M. Lyon sold 2,500 shares of the company’s 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 completion of the sale, the senior vice president owned 12,619 shares in the company, valued at approximately $4,416,650. This represents a 16.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Michael A. Henschen II sold 6,336 shares of the 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 completion of the sale, the vice president directly 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.17% of the company’s stock.

Marathon Petroleum Trading Down 0.6%

MPC opened at $358.71 on Friday. Marathon Petroleum Corporation has a fifty-two week low of $161.93 and a fifty-two week high of $367.60. The firm has a market capitalization of $104.72 billion, a PE ratio of 12.33, a P/E/G ratio of 0.23 and a beta of 0.52. 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 company’s 50-day moving average is $295.27 and its 200 day moving average is $253.47.

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

Marathon Petroleum Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. TD Cowen raised their target price on Marathon Petroleum from $357.00 to $375.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Wells Fargo & Company upped their price target on Marathon Petroleum from $344.00 to $359.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Piper Sandler increased their price target on Marathon Petroleum from $343.00 to $344.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Jefferies Financial Group set a $335.00 price objective on Marathon Petroleum and gave the company a “buy” rating in a research note on Sunday, July 12th. Finally, Barclays boosted their price objective on Marathon Petroleum from $289.00 to $321.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.