Marathon Petroleum Co. (NYSE:MPC) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers raised its stake in Marathon Petroleum Co. (NYSE:MPC) by 0.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 669,095 shares of the oil and gas company’s stock after acquiring an additional 2,740 shares during the quarter. Rhumbline Advisers’ holdings in Marathon Petroleum were worth $97,480,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Fourth Dimension Wealth LLC purchased a new stake in shares of Marathon Petroleum in the fourth quarter valued at approximately $26,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Marathon Petroleum during the fourth quarter worth approximately $27,000. Asset Planning Inc acquired a new position in Marathon Petroleum during the fourth quarter worth $28,000. Sierra Ocean LLC acquired a new position in Marathon Petroleum during the fourth quarter worth $31,000. Finally, Cape Investment Advisory Inc. boosted its stake in Marathon Petroleum by 762.9% during the fourth quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company’s stock worth $42,000 after buying an additional 267 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MPC. Wall Street Zen raised Marathon Petroleum from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Scotiabank decreased their price objective on Marathon Petroleum from $169.00 to $147.00 and set a “sector outperform” rating for the company in a research note on Friday, April 11th. TD Cowen lifted their price objective on Marathon Petroleum from $142.00 to $152.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Raymond James cut their target price on Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, April 9th. Finally, Barclays raised their target price on Marathon Petroleum from $141.00 to $159.00 and gave the stock an “overweight” rating in a research report on Monday, May 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and an average target price of $175.29.

Insiders Place Their Bets

In related news, Director Evan Bayh purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was bought at an average cost of $133.70 per share, with a total value of $133,700.00. Following the completion of the acquisition, the director now directly owns 69,305 shares in the company, valued at $9,266,078.50. The trade was a 1.46% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ricky D. Hessling bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average price of $134.72 per share, with a total value of $269,440.00. Following the completion of the purchase, the insider now directly owns 12,162 shares of the company’s stock, valued at approximately $1,638,464.64. The trade was a 19.68% increase in their position. The disclosure for this purchase can be found here. 0.21% of the stock is owned by company insiders.

Marathon Petroleum Trading Up 0.4%

Shares of MPC stock opened at $160.62 on Monday. The business’s 50 day moving average is $142.62 and its two-hundred day moving average is $146.06. Marathon Petroleum Co. has a twelve month low of $115.10 and a twelve month high of $183.31. The company has a market capitalization of $49.34 billion, a P/E ratio of 16.18, a price-to-earnings-growth ratio of 3.11 and a beta of 0.87. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.16. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The firm had revenue of $31.85 billion for the quarter, compared to the consensus estimate of $28.91 billion. During the same period in the previous year, the business earned $2.58 earnings per share. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. Equities analysts forecast that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be given a dividend of $0.91 per share. The ex-dividend date is Wednesday, May 21st. This represents a $3.64 dividend on an annualized basis and a yield of 2.27%. Marathon Petroleum’s payout ratio is 51.20%.

Marathon Petroleum Profile

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.