MTM Investment Management LLC Invests $130,000 in Marathon Petroleum Corporation $MPC

MTM Investment Management LLC purchased a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 782 shares of the oil and gas company’s stock, valued at approximately $130,000.

A number of other hedge funds have also bought and sold shares of MPC. Vanguard Group Inc. lifted its position in shares of Marathon Petroleum by 12.3% during the first quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company’s stock worth $5,090,611,000 after acquiring an additional 3,834,501 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Marathon Petroleum by 18.7% in the first quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company’s stock valued at $1,722,664,000 after purchasing an additional 1,862,674 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Marathon Petroleum by 14.8% during the 2nd quarter. Geode Capital Management LLC now owns 8,013,213 shares of the oil and gas company’s stock valued at $1,325,598,000 after purchasing an additional 1,033,645 shares during the period. Boston Partners lifted its holdings in Marathon Petroleum by 13.0% during the 2nd quarter. Boston Partners now owns 6,155,996 shares of the oil and gas company’s stock worth $1,023,110,000 after purchasing an additional 707,482 shares in the last quarter. Finally, Raymond James Financial Inc. grew its holdings in Marathon Petroleum by 6.3% during the 1st quarter. Raymond James Financial Inc. now owns 6,037,532 shares of the oil and gas company’s stock valued at $879,608,000 after buying an additional 355,215 shares in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Price Performance

Shares of Marathon Petroleum stock opened at $199.91 on Monday. The business’s 50-day moving average price is $189.65 and its 200-day moving average price is $174.53. The firm has a market capitalization of $60.09 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 3.83 and a beta of 0.90. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $202.30. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 EPS for the quarter, topping the consensus estimate of $3.00 by $0.01. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. The firm had revenue of $34.81 billion for the quarter, compared to the consensus estimate of $31.06 billion. Sell-side analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 19th will be given a dividend of $1.00 per share. The ex-dividend date is Wednesday, November 19th. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.91. This represents a $4.00 annualized dividend and a yield of 2.0%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 38.81%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Bank of America upped their target price on shares of Marathon Petroleum from $184.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, September 3rd. Morgan Stanley increased their target price on shares of Marathon Petroleum from $182.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, October 3rd. Barclays boosted their price target on shares of Marathon Petroleum from $176.00 to $194.00 and gave the company an “overweight” rating in a research report on Monday, October 13th. Finally, TD Cowen lowered their price objective on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Eight equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $201.57.

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.