Aberdeen Group plc Purchases 6,083 Shares of Marathon Petroleum Corporation $MPC

Key Points

• Aberdeen Group plc increased its stake in Marathon Petroleum Corporation by 4.4%, acquiring an additional 6,083 shares worth approximately $24,307,000.
• Analysts have set a consensus target price of $199.31 for Marathon Petroleum, with several firms raising their price objectives recently, reflecting positive sentiment towards the company's stock.
• Marathon Petroleum announced a quarterly dividend of $0.91, yielding 2.0%, with a payout ratio of 54.01% for shareholders of record on August 20th.

Aberdeen Group plc grew its position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 4.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 145,842 shares of the oil and gas company's stock after acquiring an additional 6,083 shares during the quarter. Aberdeen Group plc's holdings in Marathon Petroleum were worth $24,307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC increased its position 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 valued at $31,000 after purchasing an additional 201 shares during the last quarter. Hughes Financial Services LLC bought a new position in shares of Marathon Petroleum during the 1st quarter valued at approximately $32,000. WPG Advisers LLC bought a new position in shares of Marathon Petroleum during the 1st quarter valued at approximately $32,000. Decker Retirement Planning Inc. increased its position in shares of Marathon Petroleum by 1,621.4% during the 1st quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock valued at $35,000 after purchasing an additional 227 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC bought a new position in shares of Marathon Petroleum during the 1st quarter valued at approximately $35,000. Institutional investors own 76.77% of the company's stock.

Wall Street Analysts Forecast Growth

MPC has been the topic of several analyst reports. Citigroup boosted their target price on Marathon Petroleum from $144.00 to $182.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Scotiabank reissued an "outperform" rating on shares of Marathon Petroleum in a research report on Thursday. TD Cowen dropped their price objective on Marathon Petroleum from $190.00 to $182.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Bank of America boosted their price objective on Marathon Petroleum from $184.00 to $192.00 and gave the company a "neutral" rating in a report on Wednesday, September 3rd. Finally, Morgan Stanley boosted their price objective on Marathon Petroleum from $182.00 to $200.00 and gave the company an "overweight" rating in a report on Friday, October 3rd. Eight investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Marathon Petroleum currently has a consensus rating of "Moderate Buy" and an average target price of $199.31.

Insider Buying and Selling at Marathon Petroleum

In related news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction on Friday, August 15th. The stock was 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 directly owned 28,700 shares in the company, valued at approximately $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.25% of the company's stock.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $183.36 on Tuesday. The company has a market capitalization of $55.75 billion, a P/E ratio of 27.20, a P/E/G ratio of 3.04 and a beta of 0.90. The business's 50 day moving average is $179.03 and its two-hundred day moving average is $163.99. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $201.61.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, beating 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 business had revenue of $34.10 billion for the quarter, compared to the consensus estimate of $31.70 billion. During the same quarter last year, the business posted $4.12 earnings per share. The business's quarterly revenue was down 11.1% compared to the same quarter last year. Analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company 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 of this dividend was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.0%. Marathon Petroleum's payout ratio 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.