Ballentine Partners LLC Purchases 1,421 Shares of Marathon Petroleum Corporation (NYSE:MPC)

Ballentine Partners LLC lifted its position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 7.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,042 shares of the oil and gas company's stock after purchasing an additional 1,421 shares during the period. Ballentine Partners LLC's holdings in Marathon Petroleum were worth $2,920,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Joseph Group Capital Management lifted its position in shares of Marathon Petroleum by 11.5% during the first quarter. Joseph Group Capital Management now owns 21,837 shares of the oil and gas company's stock valued at $3,181,000 after purchasing an additional 2,259 shares in the last quarter. Hara Capital LLC increased its holdings in Marathon Petroleum by 73,333.3% during the first quarter. Hara Capital LLC now owns 2,203 shares of the oil and gas company's stock worth $321,000 after buying an additional 2,200 shares during the last quarter. Allworth Financial LP increased its holdings in Marathon Petroleum by 7.6% during the first quarter. Allworth Financial LP now owns 13,233 shares of the oil and gas company's stock worth $1,820,000 after buying an additional 931 shares during the last quarter. Poinciana Advisors Group LLC purchased a new stake in Marathon Petroleum during the first quarter worth about $214,000. Finally, LBP AM SA increased its holdings in Marathon Petroleum by 28.4% during the first quarter. LBP AM SA now owns 65,444 shares of the oil and gas company's stock worth $9,535,000 after buying an additional 14,463 shares during the last quarter. 76.77% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Kim K.W. Rucker sold 7,392 shares of the company's stock in a transaction 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 sale, the director owned 18,944 shares of the company's stock, valued at approximately $3,315,200. This represents a 28.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

MPC has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of Marathon Petroleum from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. TD Cowen lifted their target price on shares of Marathon Petroleum from $152.00 to $163.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Evercore ISI began coverage on shares of Marathon Petroleum in a research note on Wednesday, June 18th. They issued an "in-line" rating and a $170.00 target price for the company. Wells Fargo & Company lifted their target price on shares of Marathon Petroleum from $182.00 to $205.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of Marathon Petroleum in a research note on Monday, June 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Marathon Petroleum has a consensus rating of "Moderate Buy" and an average price target of $184.38.

Marathon Petroleum Price Performance

MPC stock opened at $179.81 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.19 and a quick ratio of 0.73. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $183.31. The stock has a market cap of $55.24 billion, a PE ratio of 25.29, a P/E/G ratio of 3.53 and a beta of 0.88. The firm has a 50 day simple moving average of $163.74 and a two-hundred day simple moving average of $150.00.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, topping analysts' consensus estimates of ($0.40) by $0.16. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The business had revenue of $31.85 billion during the quarter, compared to analysts' expectations of $28.91 billion. During the same quarter in the previous year, the company earned $2.58 EPS. The business's quarterly revenue was down 4.1% compared to the same quarter last year. On average, analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were issued a $0.91 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.02%. Marathon Petroleum's payout ratio is 51.20%.

About Marathon Petroleum

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.

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