AustralianSuper Pty Ltd Has $155.19 Million Stock Position in Marathon Petroleum Corporation $MPC

AustralianSuper Pty Ltd lifted its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 1.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 934,281 shares of the oil and gas company’s stock after purchasing an additional 10,351 shares during the quarter. Marathon Petroleum makes up about 0.8% of AustralianSuper Pty Ltd’s holdings, making the stock its 26th biggest position. AustralianSuper Pty Ltd’s holdings in Marathon Petroleum were worth $155,193,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of MPC. Activest Wealth Management increased its stake in shares of Marathon Petroleum by 290.2% during the 2nd quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 119 shares during the last quarter. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Marathon Petroleum by 1,546.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock worth $31,000 after buying an additional 201 shares during the period. Hughes Financial Services LLC bought a new stake in shares of Marathon Petroleum during the 1st quarter worth $32,000. WPG Advisers LLC bought a new stake in shares of Marathon Petroleum during the 1st quarter worth $32,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Marathon Petroleum during the 1st quarter worth $35,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Activity

In other news, insider Molly R. Benson sold 10,879 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $163.00, for a total value of $1,773,277.00. Following the completion of the transaction, the insider owned 28,700 shares in the company, valued at approximately $4,678,100. This represents a 27.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on MPC shares. Wells Fargo & Company started coverage on shares of Marathon Petroleum in a report on Friday, October 17th. They set an “overweight” rating and a $214.00 price objective for the company. Evercore ISI upped their price objective on shares of Marathon Petroleum from $170.00 to $210.00 and gave the stock an “in-line” rating in a report on Friday, September 19th. Dbs Bank raised shares of Marathon Petroleum to a “moderate buy” rating in a report on Monday, July 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Marathon Petroleum in a report on Saturday. Finally, Morgan Stanley increased their price target on shares of Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $200.31.

Marathon Petroleum Price Performance

Shares of Marathon Petroleum stock opened at $196.17 on Monday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $201.61. The firm has a fifty day moving average price of $183.52 and a two-hundred day moving average price of $167.50. The company has a market cap of $59.64 billion, a PE ratio of 29.10, a price-to-earnings-growth ratio of 4.11 and a beta of 0.90.

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 for the quarter, beating analysts’ consensus estimates of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The firm had revenue of $34.10 billion during the quarter, compared to the consensus estimate of $31.70 billion. During the same period in the prior year, the firm earned $4.12 EPS. The business’s revenue was down 11.1% on a year-over-year basis. Analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were paid a $0.91 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.9%. Marathon Petroleum’s dividend payout ratio is currently 54.01%.

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.