Aberdeen Group plc Purchases 62,880 Shares of Marathon Petroleum Corporation $MPC

Key Points

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Aberdeen Group plc raised its position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 81.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 139,759 shares of the oil and gas company's stock after buying an additional 62,880 shares during the quarter. Aberdeen Group plc's holdings in Marathon Petroleum were worth $20,262,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Marathon Petroleum by 12.3% in the 1st quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company's stock valued at $5,090,611,000 after purchasing an additional 3,834,501 shares in the last quarter. Boston Partners raised its stake in Marathon Petroleum by 58.5% during the first quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company's stock worth $791,274,000 after acquiring an additional 2,011,810 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Marathon Petroleum by 14,969.1% in the first quarter. GAMMA Investing LLC now owns 1,540,963 shares of the oil and gas company's stock worth $224,503,000 after acquiring an additional 1,530,737 shares during the last quarter. Nuveen LLC bought a new stake in shares of Marathon Petroleum during the 1st quarter valued at approximately $147,122,000. Finally, Two Sigma Investments LP acquired a new position in Marathon Petroleum during the 4th quarter worth approximately $81,318,000. Institutional investors own 76.77% of the company's stock.

Insider Activity at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total value of $1,293,600.00. Following the completion of the transaction, the director owned 18,944 shares in the company, valued at approximately $3,315,200. The trade was a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Molly R. Benson sold 10,879 shares of the firm's 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 sale, the insider directly owned 28,700 shares of the company's stock, valued at $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on MPC. Citigroup boosted their target price on shares of Marathon Petroleum from $144.00 to $182.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Dbs Bank raised Marathon Petroleum to a "moderate buy" rating in a research note on Monday, July 28th. Wolfe Research downgraded Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Evercore ISI started coverage on shares of Marathon Petroleum in a research report on Wednesday, June 18th. They set an "in-line" rating and a $170.00 target price on the stock. Finally, Morgan Stanley upped their price target on shares of Marathon Petroleum from $160.00 to $182.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Eight analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $185.29.

Marathon Petroleum Stock Performance

Shares of MPC stock traded up $5.50 during mid-day trading on Friday, reaching $170.44. The stock had a trading volume of 1,235,511 shares, compared to its average volume of 2,617,647. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $183.10. The firm has a market cap of $51.82 billion, a PE ratio of 25.29, a P/E/G ratio of 3.01 and a beta of 0.90. The firm's 50 day simple moving average is $169.51 and its 200 day simple moving average is $154.46. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, topping the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The firm had revenue of $34.10 billion during the quarter, compared to analysts' expectations of $31.70 billion. During the same period last year, the business earned $4.12 earnings per share. Marathon Petroleum's quarterly revenue was down 11.1% compared to the same quarter last year. On average, analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th will be issued a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $3.64 annualized dividend and a dividend yield of 2.1%. Marathon Petroleum's dividend payout ratio (DPR) is presently 54.01%.

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.