Oxbow Advisors LLC Takes Position in Marathon Petroleum Corporation $MPC

Oxbow Advisors LLC purchased a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,183 shares of the oil and gas company’s stock, valued at approximately $558,000.

A number of other large investors have also modified their holdings of MPC. Wealthfront Advisers LLC acquired a new position in Marathon Petroleum during the 2nd quarter valued at about $24,957,000. Global Strategic Investment Solutions LLC acquired a new stake in shares of Marathon Petroleum in the second quarter valued at approximately $558,000. Foster & Motley Inc. bought a new stake in shares of Marathon Petroleum during the second quarter valued at approximately $5,250,000. Strategic Wealth Advisors LLC bought a new stake in shares of Marathon Petroleum during the second quarter valued at approximately $36,000. Finally, Main Street Financial Solutions LLC boosted its position in shares of Marathon Petroleum by 9.4% during the second quarter. Main Street Financial Solutions LLC now owns 2,021 shares of the oil and gas company’s stock worth $517,000 after buying an additional 173 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

NYSE MPC opened at $366.79 on Wednesday. Marathon Petroleum Corporation has a 12 month low of $161.80 and a 12 month high of $367.24. 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 firm has a market capitalization of $107.08 billion, a PE ratio of 12.61, a P/E/G ratio of 0.23 and a beta of 0.52. The company’s 50 day simple moving average is $291.36 and its 200 day simple moving average is $250.88.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, topping analysts’ consensus estimates of $14.27 by $3.46. The firm 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 firm’s revenue for the quarter was up 53.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.96 earnings per share. As a group, equities research analysts forecast that Marathon Petroleum Corporation will post 46.66 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid a $1.00 dividend. 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 payout ratio is currently 13.75%.

Insider Buying and Selling at Marathon Petroleum

In other news, VP Michael A. Henschen II sold 6,336 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was 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 owned 16,900 shares in the company, valued at $4,543,058. This represents a 27.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Shawn M. Lyon sold 2,500 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $350.00, for a total value 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 represents a 16.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. Barclays boosted their price target on Marathon Petroleum from $289.00 to $321.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Citigroup increased their price target on Marathon Petroleum from $303.00 to $318.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Scotiabank raised their price target on Marathon Petroleum from $174.00 to $210.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 22nd. Finally, UBS Group restated a “buy” rating and set a $321.00 price objective on shares of Marathon Petroleum in a research note on Friday, July 10th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.