Corigliano Investment Advisers LLC Takes Position in Marathon Petroleum Co. (NYSE:MPC)

Corigliano Investment Advisers LLC bought a new position in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 57,800 shares of the oil and gas company's stock, valued at approximately $8,063,000. Marathon Petroleum accounts for 3.9% of Corigliano Investment Advisers LLC's portfolio, making the stock its 10th largest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Kohmann Bosshard Financial Services LLC bought a new position in Marathon Petroleum during the fourth quarter valued at $27,000. Asset Planning Inc purchased a new stake in shares of Marathon Petroleum during the fourth quarter valued at about $28,000. Sierra Ocean LLC purchased a new stake in shares of Marathon Petroleum during the fourth quarter valued at about $31,000. Cape Investment Advisory Inc. increased its holdings in shares of 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 valued at $42,000 after acquiring an additional 267 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new position in Marathon Petroleum in the 4th quarter worth approximately $44,000. Institutional investors own 76.77% of the company's stock.

Marathon Petroleum Price Performance

Shares of MPC traded up $6.65 during mid-day trading on Monday, reaching $157.54. 1,277,097 shares of the stock traded hands, compared to its average volume of 2,710,206. Marathon Petroleum Co. has a 1 year low of $115.10 and a 1 year high of $183.31. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The company has a market cap of $48.40 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 3.11 and a beta of 0.87. The firm has a fifty day moving average price of $137.10 and a 200 day moving average price of $145.04.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, beating analysts' consensus estimates of ($0.40) by $0.16. The firm had revenue of $31.85 billion for the quarter, compared to analysts' expectations of $28.91 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The business's revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.58 earnings per share. As a group, equities research analysts predict that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be paid a $0.91 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.31%. Marathon Petroleum's payout ratio is currently 51.20%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Scotiabank decreased their target price on Marathon Petroleum from $169.00 to $147.00 and set a "sector outperform" rating on the stock in a research report on Friday, April 11th. Wells Fargo & Company dropped their target price on Marathon Petroleum from $185.00 to $175.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Barclays decreased their target price on Marathon Petroleum from $161.00 to $141.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Raymond James reduced their price objective on Marathon Petroleum from $193.00 to $183.00 and set a "strong-buy" rating for the company in a research note on Wednesday, April 9th. Finally, TD Cowen upped their price target on Marathon Petroleum from $142.00 to $152.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $172.93.

Insider Buying and Selling

In related news, Director Evan Bayh bought 1,000 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average price of $133.70 per share, for a total transaction of $133,700.00. Following the acquisition, the director now owns 69,305 shares of the company's stock, valued at approximately $9,266,078.50. This trade represents a 1.46% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at 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 bought at an average price of $134.72 per share, with a total value of $269,440.00. Following the acquisition, the insider now directly owns 12,162 shares in the company, valued at $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 corporate insiders.

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.