Brandywine Global Investment Management LLC Acquires New Position in Marathon Petroleum Corporation $MPC

Key Points

• Brandywine Global Investment Management opened a new position in Marathon Petroleum, buying 35,478 shares valued at about $5.77 million in the fourth quarter.
• Marathon Petroleum reported a strong latest quarter, with EPS of $1.65 versus the $0.74 estimate and revenue of $34.2 billion, while analysts now see full-year earnings of 30.05 per share.
• Wall Street sentiment remains constructive: several firms raised price targets, and the stock currently carries a Moderate Buy consensus with an average target of $270.38, while Marathon also paid a $1.00 quarterly dividend for a 1.5% annualized yield.

Brandywine Global Investment Management LLC acquired a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 35,478 shares of the oil and gas company's stock, valued at approximately $5,770,000.

A number of other hedge funds also recently made changes to their positions in the stock. Alberta Investment Management Corp bought a new position in shares of Marathon Petroleum during the 3rd quarter valued at approximately $2,891,000. Diversified Trust Co. boosted its position in shares of Marathon Petroleum by 39.3% during the 4th quarter. Diversified Trust Co. now owns 15,675 shares of the oil and gas company's stock valued at $2,549,000 after acquiring an additional 4,419 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Marathon Petroleum during the 3rd quarter valued at approximately $1,004,000. USA Financial Formulas bought a new position in shares of Marathon Petroleum during the 4th quarter valued at approximately $791,000. Finally, KKM Financial LLC boosted its position in shares of Marathon Petroleum by 27.6% during the 3rd quarter. KKM Financial LLC now owns 26,202 shares of the oil and gas company's stock valued at $5,050,000 after acquiring an additional 5,661 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MPC shares. Wells Fargo & Company increased their price target on Marathon Petroleum to $335.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. UBS Group set a $285.00 price target on Marathon Petroleum in a report on Wednesday, May 6th. Jefferies Financial Group increased their price target on Marathon Petroleum from $279.00 to $296.00 and gave the company a "buy" rating in a report on Tuesday, May 26th. Mizuho increased their price target on Marathon Petroleum from $224.00 to $284.00 and gave the company a "neutral" rating in a report on Wednesday, May 27th. Finally, Bank of America increased their price target on Marathon Petroleum from $224.00 to $260.00 in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $270.38.

Marathon Petroleum Stock Performance

MPC stock opened at $263.51 on Thursday. 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 business's fifty day simple moving average is $243.74 and its two-hundred day simple moving average is $211.55. Marathon Petroleum Corporation has a twelve month low of $158.00 and a twelve month high of $272.46. The firm has a market cap of $76.93 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 0.41 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.91. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The business had revenue of $34.20 billion for the quarter, compared to analyst estimates of $33.42 billion. During the same quarter last year, the firm posted ($0.24) earnings per share. The business's revenue was up 8.5% compared to the same quarter last year. Analysts predict that Marathon Petroleum Corporation will post 30.05 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were paid a $1.00 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $4.00 dividend on an annualized basis and a yield of 1.5%. Marathon Petroleum's dividend payout ratio (DPR) is presently 26.11%.

Insiders Place Their Bets

In other Marathon Petroleum news, insider Ricky D. Hessling sold 1,626 shares of the stock in a transaction on Friday, March 13th. The stock was sold at an average price of $228.18, for a total value of $371,020.68. Following the sale, the insider owned 7,525 shares in the company, valued at $1,717,054.50. This trade represents a 17.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Michael A. Henschen II sold 6,336 shares of the firm's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total value of $1,703,243.52. Following the transaction, the vice president owned 16,900 shares in the company, valued at approximately $4,543,058. This represents a 27.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.17% of the company's stock.

Key Marathon Petroleum News

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

• Positive Sentiment: Raymond James raised its price target on Marathon Petroleum to $300 from $285 and kept an outperform rating, signaling additional upside potential for MPC. Raymond James raises price target on Marathon Petroleum to 300 from 285
• Positive Sentiment: MPC was included on Zacks’ list of top growth and momentum stocks, reflecting strong earnings trends, favorable price action, and upbeat growth forecasts. Best Growth Stocks to Buy for June 10th
• Positive Sentiment: Analysts highlighted Marathon Petroleum as a beneficiary of tight fuel supply and strong refining margins, with one article noting MPC has rallied sharply over the past six months and still offers further upside. 2 Refining Stocks With 35%+ Upside in 6 Months Despite High Oil Prices
• Positive Sentiment: Marathon Petroleum’s strong recent earnings beat and dividend support continue to underpin investor confidence, with the company recently paying a $1.00 quarterly dividend. MarketBeat Marathon Petroleum stock page
• Neutral Sentiment: There was also an insider sale disclosed for VP Michael Henschen II, which may draw attention but does not necessarily change the company’s fundamentals. Marathon Petroleum VP Michael Henschen II Sells 6,336 Shares

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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