Bleakley Financial Group LLC Makes New Investment in Marathon Petroleum Corporation $MPC

Key Points

• Bleakley Financial Group opened a new position in Marathon Petroleum in the fourth quarter, buying 10,054 shares valued at about $1.64 million.
• Marathon Petroleum reported stronger-than-expected quarterly results, posting $1.65 EPS versus the $0.74 estimate and revenue of $34.2 billion, which also topped expectations.
• The company announced a quarterly dividend of $1.00 per share, implying a $4.00 annualized payout and a 1.6% yield; analysts also remain broadly positive with a consensus rating of Moderate Buy.

Bleakley Financial Group LLC purchased a new position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 10,054 shares of the oil and gas company's stock, valued at approximately $1,635,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Boston Partners grew its position in Marathon Petroleum by 2.3% during the 3rd quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company's stock worth $1,214,522,000 after purchasing an additional 141,691 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Marathon Petroleum by 2.0% during the 3rd quarter. Legal & General Group Plc now owns 1,861,020 shares of the oil and gas company's stock valued at $358,693,000 after acquiring an additional 35,847 shares in the last quarter. Amundi grew its holdings in shares of Marathon Petroleum by 11.8% during the 3rd quarter. Amundi now owns 1,626,862 shares of the oil and gas company's stock valued at $314,830,000 after acquiring an additional 172,172 shares in the last quarter. National Pension Service grew its holdings in shares of Marathon Petroleum by 1.7% during the 3rd quarter. National Pension Service now owns 849,268 shares of the oil and gas company's stock valued at $163,688,000 after acquiring an additional 14,308 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Marathon Petroleum by 1.8% in the 3rd quarter. Rhumbline Advisers now owns 669,237 shares of the oil and gas company's stock valued at $128,989,000 after purchasing an additional 11,948 shares during the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Marathon Petroleum news, insider Ricky D. Hessling sold 1,626 shares of the company's stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $228.18, for a total transaction of $371,020.68. Following the sale, the insider directly owned 7,525 shares of the company's stock, valued at approximately $1,717,054.50. This represents a 17.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 4,473 shares of company stock worth $1,015,428 over the last quarter. 0.17% of the stock is currently owned by corporate insiders.

Marathon Petroleum Stock Performance

NYSE MPC opened at $251.71 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31. The stock has a market cap of $73.48 billion, a P/E ratio of 16.43, a PEG ratio of 0.40 and a beta of 0.53. Marathon Petroleum Corporation has a twelve month low of $155.93 and a twelve month high of $264.14. The company's 50-day simple moving average is $240.01 and its 200 day simple moving average is $207.41.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.91. The firm had revenue of $34.20 billion for the quarter, compared to analysts' expectations of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The company's quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.24) earnings per share. As a group, research analysts forecast that Marathon Petroleum Corporation will post 30.05 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Wednesday, May 20th. Marathon Petroleum's dividend payout ratio is currently 26.11%.

Marathon Petroleum News Summary

Here are the key news stories impacting Marathon Petroleum this week:

• Positive Sentiment: Marathon Petroleum was upgraded to Zacks Rank #1 (Strong Buy), signaling stronger earnings outlook and possible near-term upside. What Makes Marathon Petroleum (MPC) a New Strong Buy Stock
• Positive Sentiment: MPC was also included on Zacks’ Strong Buy momentum stocks list, reinforcing short-term bullish sentiment. Best Momentum Stock to Buy for May 28th
• Positive Sentiment: The stock was added to Zacks’ Strong Buy value list, which may support investor interest from value-focused buyers. Best Value Stock to Buy for May 28th
• Positive Sentiment: MPC was also named among Zacks’ Strong Buy growth stocks, adding another bullish screen-based signal. Best Growth Stocks to Buy for May 28th
• Neutral Sentiment: Investors are also paying more attention to Marathon Petroleum, which can increase trading interest but is not a fundamental catalyst by itself. Here is What to Know Beyond Why Marathon Petroleum Corporation (MPC) is a Trending Stock
• Negative Sentiment: One article noted that Marathon Petroleum insiders sold about $2.3 million of stock over the past year, which could make some investors more cautious. Marathon Petroleum Insiders Sell US$2.3m Of Stock, Possibly Signalling Caution

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MPC. Wall Street Zen upgraded shares of Marathon Petroleum from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 10th. JPMorgan Chase & Co. boosted their target price on shares of Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. Scotiabank boosted their target price on shares of Marathon Petroleum from $174.00 to $210.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, April 22nd. TD Cowen boosted their target price on shares of Marathon Petroleum to $320.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Finally, Mizuho upped their price objective on shares of Marathon Petroleum from $224.00 to $284.00 and gave the company a "neutral" rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $268.50.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation NYSE: MPC is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum's operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.

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