AG2R LA Mondiale Gestion D Actifs Makes New Investment in Marathon Petroleum Corporation $MPC

Key Points

• AG2R LA Mondiale Gestion D Actifs has acquired 41,853 shares of Marathon Petroleum Corporation, valued at approximately $6,727,000, during the first quarter.
• The company recently announced a quarterly dividend of $0.91 per share, resulting in an annualized dividend of $3.64 with a yield of 2.0%.
• Analysts have set a consensus target price of $189.36 for Marathon Petroleum, with ratings reflecting both a "buy" and a "hold" sentiment from several research firms.

AG2R LA Mondiale Gestion D Actifs acquired a new position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 41,853 shares of the oil and gas company's stock, valued at approximately $6,727,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in Marathon Petroleum by 12.3% during the 1st 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 during the last quarter. Wellington Management Group LLP grew its position in Marathon Petroleum by 18.7% during the 1st quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company's stock worth $1,722,664,000 after acquiring an additional 1,862,674 shares during the last quarter. Raymond James Financial Inc. grew its position 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 worth $879,608,000 after acquiring an additional 355,215 shares during the last quarter. Boston Partners grew its position in Marathon Petroleum by 58.5% during the 1st 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 during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Marathon Petroleum by 3.7% during the 1st quarter. Bank of New York Mellon Corp now owns 4,982,348 shares of the oil and gas company's stock worth $725,878,000 after acquiring an additional 178,397 shares during the last quarter. Institutional investors own 76.77% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Bank of America boosted their price objective on Marathon Petroleum from $184.00 to $192.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 3rd. Wells Fargo & Company increased their price target on Marathon Petroleum from $182.00 to $205.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Citigroup increased their price target on Marathon Petroleum from $144.00 to $182.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Wall Street Zen raised Marathon Petroleum from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Scotiabank reissued an "outperform" rating on shares of Marathon Petroleum in a research note on Friday, July 11th. Eight equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $189.36.

Marathon Petroleum Trading Down 1.2%

NYSE MPC traded down $2.13 during trading hours on Friday, hitting $180.18. 1,500,292 shares of the company's stock were exchanged, compared to its average volume of 1,716,743. The stock has a 50-day simple moving average of $172.81 and a 200 day simple moving average of $157.27. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $186.28. The firm has a market cap of $54.78 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 3.52 and a beta of 0.97. 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 (NYSE:MPC - Get Free Report) last released 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 business had revenue of $34.10 billion during the quarter, compared to analysts' expectations of $31.70 billion. During the same quarter last year, the firm posted $4.12 earnings per share. The firm's revenue was down 11.1% on a year-over-year basis. On average, equities analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.64 annualized dividend and a yield of 2.0%. Marathon Petroleum's dividend payout ratio (DPR) is currently 54.01%.

Insider Activity at Marathon Petroleum

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

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.