Perigon Wealth Management LLC Invests $766,000 in Marathon Petroleum Corporation $MPC

Perigon Wealth Management LLC bought a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,997 shares of the oil and gas company’s stock, valued at approximately $766,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of MPC. Pictet Asset Management Holding SA boosted its holdings 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 during the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of Marathon Petroleum by 570.7% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 168,644 shares of the oil and gas company’s stock valued at $41,180,000 after buying an additional 143,500 shares during the last quarter. North Dakota State Investment Board acquired a new position in shares of Marathon Petroleum in the 4th quarter valued at about $1,714,000. ABC Arbitrage SA acquired a new stake in Marathon Petroleum during the fourth quarter worth about $4,977,000. Finally, Shepherd Street Advisors LLC purchased a new position in Marathon Petroleum during the fourth quarter valued at approximately $878,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, SVP Shawn M. Lyon sold 2,500 shares of the stock in a transaction 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 transaction, the senior vice president directly owned 12,619 shares of the company’s stock, valued at $4,416,650. This trade represents a 16.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the sale, the vice president owned 16,900 shares in the company, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.17% of the company’s stock.

Marathon Petroleum Stock Up 2.4%

Marathon Petroleum stock opened at $366.79 on Wednesday. The stock has a market capitalization of $107.08 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 0.23 and a beta of 0.52. Marathon Petroleum Corporation has a 12 month low of $161.80 and a 12 month high of $367.24. The business has a 50 day simple moving average of $291.36 and a 200-day simple moving average of $250.88. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89.

Marathon Petroleum (NYSE:MPC) last announced its 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. 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 analyst estimates of $40.87 billion. During the same quarter last year, the firm posted $3.96 EPS. The business’s revenue was up 53.5% on a year-over-year basis. On average, analysts anticipate that Marathon Petroleum Corporation will post 46.66 EPS 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 given a dividend of $1.00 per share. The ex-dividend date is Wednesday, August 19th. This represents a $4.00 dividend on an annualized basis and a yield of 1.1%. Marathon Petroleum’s dividend payout ratio is currently 13.75%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MPC. Piper Sandler raised their price objective on shares of Marathon Petroleum from $343.00 to $344.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. The Goldman Sachs Group increased their price target on shares of Marathon Petroleum from $291.00 to $376.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Weiss Ratings upgraded shares of Marathon Petroleum from a “hold (c+)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Mizuho lifted 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. Finally, Jefferies Financial Group set a $335.00 price objective on shares of Marathon Petroleum and gave the stock a “buy” rating in a research report on Sunday, July 12th. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Marathon Petroleum currently has a consensus 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.