Callan Family Office LLC Acquires 5,169 Shares of Marathon Petroleum Corporation $MPC

Key Points

• Callan Family Office LLC increased its holdings in Marathon Petroleum Corporation by 156.8%, acquiring an additional 5,169 shares to reach a total of 8,466 shares valued at approximately $1.4 million.
• Institutional investors now own 76.77% of Marathon Petroleum's stock, with several major funds, including Vanguard Group and Boston Partners, significantly increasing their positions in the company.
• Analysts currently have a consensus rating of "Moderate Buy" for Marathon Petroleum, with an average price target of $198.92, reflecting optimistic expectations for the stock's performance.

Callan Family Office LLC increased its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 156.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,466 shares of the oil and gas company's stock after purchasing an additional 5,169 shares during the period. Callan Family Office LLC's holdings in Marathon Petroleum were worth $1,406,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of MPC. Vanguard Group Inc. increased its position in Marathon Petroleum by 12.3% during the first quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company's stock valued at $5,090,611,000 after acquiring an additional 3,834,501 shares during the last quarter. Boston Partners increased its position in Marathon Petroleum by 58.5% during the first quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company's stock valued at $791,274,000 after acquiring an additional 2,011,810 shares during the last quarter. Wellington Management Group LLP increased its position in Marathon Petroleum by 18.7% during the first quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company's stock valued at $1,722,664,000 after acquiring an additional 1,862,674 shares during the last quarter. Nuveen LLC bought a new position in Marathon Petroleum during the first quarter valued at $147,122,000. Finally, Price T Rowe Associates Inc. MD increased its position in Marathon Petroleum by 26.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,675,362 shares of the oil and gas company's stock valued at $535,465,000 after acquiring an additional 769,015 shares during the last quarter. Institutional investors own 76.77% of the company's stock.

Analysts Set New Price Targets

MPC has been the topic of a number of analyst reports. Scotiabank reiterated an "outperform" rating on shares of Marathon Petroleum in a research report on Thursday. Weiss Ratings restated a "hold (c)" rating on shares of Marathon Petroleum in a report on Wednesday, October 8th. UBS Group upped their price target on shares of Marathon Petroleum from $203.00 to $220.00 and gave the stock a "buy" rating in a report on Friday, September 26th. Mizuho upped their price target on shares of Marathon Petroleum from $184.00 to $188.00 and gave the stock a "neutral" rating in a report on Monday, September 15th. Finally, Wolfe Research cut shares of Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. Eight analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $198.92.

Insider Activity at Marathon Petroleum

In other news, insider Molly R. Benson sold 10,879 shares of the business's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $163.00, for a total value of $1,773,277.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.25% of the company's stock.

Marathon Petroleum Trading Down 3.5%

NYSE:MPC opened at $181.08 on Monday. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $201.61. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. The firm has a market cap of $55.05 billion, a P/E ratio of 26.87, a P/E/G ratio of 3.04 and a beta of 0.90. The firm has a 50-day simple moving average of $178.73 and a 200-day simple moving average of $163.71.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, beating the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The business had revenue of $34.10 billion during the quarter, compared to analyst estimates of $31.70 billion. During the same quarter in the previous year, the business posted $4.12 EPS. The company's quarterly revenue was down 11.1% compared to the same quarter last year. Equities analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

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

Marathon Petroleum Company 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.

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