Convergence Investment Partners LLC Increases Stock Holdings in Marathon Petroleum Corporation (NYSE:MPC)

Convergence Investment Partners LLC raised its position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 217.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,165 shares of the oil and gas company's stock after purchasing an additional 4,221 shares during the quarter. Convergence Investment Partners LLC's holdings in Marathon Petroleum were worth $898,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Fourth Dimension Wealth LLC purchased a new position in shares of Marathon Petroleum in the fourth quarter worth $26,000. CBIZ Investment Advisory Services LLC increased its position in Marathon Petroleum by 1,546.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company's stock worth $31,000 after purchasing an additional 201 shares during the last quarter. Hughes Financial Services LLC bought a new stake in Marathon Petroleum in the first quarter worth $32,000. Decker Retirement Planning Inc. increased its position in Marathon Petroleum by 1,621.4% in the first quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock worth $35,000 after purchasing an additional 227 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in Marathon Petroleum in the first quarter worth $35,000. Hedge funds and other institutional investors own 76.77% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MPC. Mizuho boosted their price target on shares of Marathon Petroleum from $168.00 to $184.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Morgan Stanley boosted their price objective on shares of Marathon Petroleum from $160.00 to $182.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. UBS Group upped their price target on shares of Marathon Petroleum from $175.00 to $203.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. Citigroup upped their price target on shares of Marathon Petroleum from $144.00 to $182.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Finally, Wall Street Zen upgraded shares of Marathon Petroleum from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $183.93.

Insiders Place Their Bets

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

Marathon Petroleum Stock Performance

Marathon Petroleum stock traded up $0.33 during mid-day trading on Friday, reaching $171.64. 1,287,701 shares of the company traded hands, compared to its average volume of 2,754,099. 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 fifty-two week low of $115.10 and a fifty-two week high of $183.31. The company has a market capitalization of $52.73 billion, a price-to-earnings ratio of 24.14, a price-to-earnings-growth ratio of 3.31 and a beta of 0.88. The firm's fifty day moving average is $167.50 and its two-hundred day moving average is $152.15.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $28.91 billion. During the same quarter in the prior year, the business posted $2.58 EPS. Marathon Petroleum's revenue for the quarter was down 4.1% compared to the same quarter last year. On average, equities research analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors 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 annualized dividend and a yield of 2.12%. Marathon Petroleum's dividend payout ratio (DPR) is presently 51.20%.

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.