Empirical Finance LLC Has $2.66 Million Stake in Marathon Petroleum Corporation (NYSE:MPC)

Empirical Finance LLC grew its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 1.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,238 shares of the oil and gas company’s stock after purchasing an additional 259 shares during the quarter. Empirical Finance LLC’s holdings in Marathon Petroleum were worth $2,657,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in MPC. Bearing Point Capital LLC acquired a new stake in Marathon Petroleum during the 1st quarter worth approximately $251,000. HB Wealth Management LLC grew its position in shares of Marathon Petroleum by 13.1% in the 1st quarter. HB Wealth Management LLC now owns 25,905 shares of the oil and gas company’s stock valued at $3,774,000 after buying an additional 2,998 shares during the last quarter. Applied Finance Capital Management LLC increased its stake in shares of Marathon Petroleum by 14.4% in the first quarter. Applied Finance Capital Management LLC now owns 14,239 shares of the oil and gas company’s stock valued at $2,074,000 after buying an additional 1,796 shares during the period. Stevens Capital Management LP raised its position in shares of Marathon Petroleum by 77.9% during the first quarter. Stevens Capital Management LP now owns 6,031 shares of the oil and gas company’s stock worth $879,000 after acquiring an additional 2,640 shares during the last quarter. Finally, Caliber Wealth Management LLC KS acquired a new position in shares of Marathon Petroleum in the first quarter worth approximately $3,347,000. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Stock Up 0.2%

Shares of NYSE:MPC opened at $171.64 on Friday. The company has a market capitalization of $52.73 billion, a PE ratio of 24.14, a price-to-earnings-growth ratio of 2.93 and a beta of 0.88. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $183.31. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.19 and a quick ratio of 0.73. The business has a fifty day moving average price of $167.65 and a two-hundred day moving average price of $152.42.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.16. The business had revenue of $31.85 billion during the quarter, compared to the consensus estimate of $28.91 billion. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.58 earnings per share. Analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st were paid a $0.91 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $3.64 annualized dividend and a yield of 2.12%. Marathon Petroleum’s payout ratio is 51.20%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MPC. Wall Street Zen upgraded shares of Marathon Petroleum from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. TD Cowen lifted their target price on Marathon Petroleum from $152.00 to $163.00 and gave the stock a “buy” rating in a report on Tuesday, June 10th. Scotiabank reissued an “outperform” rating on shares of Marathon Petroleum in a research note on Friday, July 11th. Evercore ISI assumed coverage on shares of Marathon Petroleum in a research report on Wednesday, June 18th. They set an “in-line” rating and a $170.00 price objective for the company. Finally, Wells Fargo & Company boosted their target price on shares of Marathon Petroleum from $182.00 to $205.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Marathon Petroleum presently has an average rating of “Hold” and a consensus price target of $183.93.

Insider Buying and Selling

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the firm’s stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total value of $1,293,600.00. Following the completion of the sale, the director directly owned 18,944 shares of the company’s stock, valued at $3,315,200. This trade represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.21% of the company’s stock.

About Marathon Petroleum

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.