Bearing Point Capital LLC Buys Shares of 1,720 Marathon Petroleum Corporation (NYSE:MPC)

Key Points

• Bearing Point Capital LLC has acquired a new position in Marathon Petroleum Corp, purchasing 1,720 shares valued at approximately $251,000.
• Institutional investors now own 76.77% of Marathon Petroleum's stock, with significant increases in positions from firms like Wellington Management and Demars Financial Group.
• Marathon Petroleum reported a quarterly revenue of $31.85 billion, surpassing analyst estimates due to lower earnings per share of ($0.24), indicating a 4.1% year-over-year revenue decline.

Bearing Point Capital LLC bought a new position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,720 shares of the oil and gas company's stock, valued at approximately $251,000.

Several other institutional investors also recently bought and sold shares of the business. Wellington Management Group LLP grew its stake in Marathon Petroleum by 78.1% during the 4th quarter. Wellington Management Group LLP now owns 9,961,503 shares of the oil and gas company's stock worth $1,389,630,000 after purchasing an additional 4,367,774 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Marathon Petroleum by 3.7% in the 1st quarter. Bank of New York Mellon Corp now owns 4,982,348 shares of the oil and gas company's stock valued at $725,878,000 after purchasing an additional 178,397 shares in the last quarter. Demars Financial Group LLC grew its holdings in Marathon Petroleum by 12.8% during the 1st quarter. Demars Financial Group LLC now owns 4,713,595 shares of the oil and gas company's stock valued at $686,724,000 after buying an additional 536,462 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Marathon Petroleum by 11.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,399,977 shares of the oil and gas company's stock valued at $613,624,000 after acquiring an additional 452,043 shares during the last quarter. Finally, Northern Trust Corp raised its position in Marathon Petroleum by 14.0% in the fourth quarter. Northern Trust Corp now owns 3,937,348 shares of the oil and gas company's stock valued at $549,260,000 after purchasing an additional 484,438 shares during the period. 76.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. TD Cowen boosted their target price on Marathon Petroleum from $152.00 to $163.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Piper Sandler raised their price objective on shares of Marathon Petroleum from $175.00 to $182.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Barclays lifted their price target on shares of Marathon Petroleum from $159.00 to $189.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Raymond James Financial reiterated an "outperform" rating and issued a $200.00 price target (up previously from $180.00) on shares of Marathon Petroleum in a research note on Tuesday, July 15th. Finally, Morgan Stanley upped their price target on shares of Marathon Petroleum from $160.00 to $182.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Marathon Petroleum presently has a consensus rating of "Hold" and an average price target of $183.93.

Marathon Petroleum Stock Performance

Shares of NYSE MPC traded down $2.91 during midday trading on Wednesday, reaching $172.52. 464,584 shares of the stock were exchanged, compared to its average volume of 2,716,126. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $183.31. The firm has a market cap of $53.00 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 2.98 and a beta of 0.88. The company has a quick ratio of 0.73, a current ratio of 1.19 and a debt-to-equity ratio of 1.16. The firm has a 50-day simple moving average of $168.18 and a two-hundred day simple moving average of $152.87.

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

Insider Activity

In other news, Director Kim K.W. Rucker sold 7,392 shares of the firm's stock in a transaction dated 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 directly owned 18,944 shares in the company, valued at $3,315,200. This trade represents a 28.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.25% 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.