Boston Partners Grows Stake in Marathon Petroleum Corporation (NYSE:MPC)

Boston Partners lifted its position in Marathon Petroleum Corporation (NYSE:MPC) by 58.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,448,514 shares of the oil and gas company’s stock after buying an additional 2,011,810 shares during the period. Marathon Petroleum makes up about 1.0% of Boston Partners’ investment portfolio, making the stock its 18th biggest position. Boston Partners owned approximately 1.77% of Marathon Petroleum worth $791,274,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Resona Asset Management Co. Ltd. raised its holdings in Marathon Petroleum by 3.6% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 115,686 shares of the oil and gas company’s stock worth $16,829,000 after purchasing an additional 4,017 shares during the period. Callan Family Office LLC raised its holdings in Marathon Petroleum by 22.9% during the first quarter. Callan Family Office LLC now owns 3,297 shares of the oil and gas company’s stock valued at $480,000 after acquiring an additional 615 shares during the period. Operose Advisors LLC bought a new stake in Marathon Petroleum during the first quarter valued at about $42,000. Linscomb Wealth Inc. raised its holdings in Marathon Petroleum by 18.0% during the first quarter. Linscomb Wealth Inc. now owns 5,801 shares of the oil and gas company’s stock valued at $845,000 after acquiring an additional 883 shares during the period. Finally, CCM Investment Group LLC bought a new stake in shares of Marathon Petroleum in the first quarter worth about $4,751,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Up 0.3%

Shares of NYSE MPC opened at $159.09 on Wednesday. The stock has a 50 day moving average price of $169.19 and a 200 day moving average price of $153.82. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. The firm has a market capitalization of $48.37 billion, a price-to-earnings ratio of 23.60, a PEG ratio of 2.91 and a beta of 0.90. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $183.10.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%. The business had revenue of $34.10 billion for the quarter, compared to the consensus estimate of $31.70 billion. During the same period in the prior year, the firm posted $4.12 earnings per share. The business’s quarterly revenue was down 11.1% on a year-over-year basis. Sell-side analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio is presently 54.01%.

Insider Activity

In related news, Director Kim K.W. Rucker sold 7,392 shares of the company’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 transaction, the director directly owned 18,944 shares of the company’s stock, valued at $3,315,200. This represents a 28.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MPC shares. Barclays lifted their target price on Marathon Petroleum from $159.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Scotiabank reissued an “outperform” rating on shares of Marathon Petroleum in a research note on Friday, July 11th. Wolfe Research cut Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 14th. Wall Street Zen raised Marathon Petroleum from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Finally, TD Cowen reduced their price objective on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $185.29.

Marathon Petroleum Company 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.