Counterpoint Mutual Funds LLC Acquires Shares of 1,868 Marathon Petroleum Corporation $MPC

Key Points

• Counterpoint Mutual Funds LLC acquired 1,868 shares of Marathon Petroleum Corporation, totaling approximately $310,000 in value, as per their recent SEC filing.
• Marathon Petroleum reported earnings of $3.96 per share for the last quarter, exceeding analyst expectations, and had a revenue of $34.10 billion, which was higher than the consensus estimate.
• The company declared a quarterly dividend of $0.91 per share, reflecting an annual yield of 1.9% and a payout ratio of 54.01%.

Counterpoint Mutual Funds LLC acquired a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,868 shares of the oil and gas company's stock, valued at approximately $310,000.

Several other institutional investors have also added to or reduced their stakes in MPC. CBIZ Investment Advisory Services LLC raised its position in Marathon Petroleum by 1,546.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company's stock valued at $31,000 after purchasing an additional 201 shares in the last quarter. Hughes Financial Services LLC acquired a new position in Marathon Petroleum during the first quarter valued at approximately $32,000. WPG Advisers LLC acquired a new position in Marathon Petroleum during the first quarter valued at approximately $32,000. Decker Retirement Planning Inc. raised its position in Marathon Petroleum by 1,621.4% during the first quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock valued at $35,000 after purchasing an additional 227 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in Marathon Petroleum during the first quarter valued at approximately $35,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Stock Performance

NYSE MPC opened at $193.05 on Thursday. The company has a market capitalization of $58.69 billion, a price-to-earnings ratio of 28.64, a PEG ratio of 3.31 and a beta of 0.97. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $194.92. The stock has a fifty day simple moving average of $174.16 and a 200 day simple moving average of $159.52. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15.

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

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a yield of 1.9%. Marathon Petroleum's dividend payout ratio is 54.01%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MPC. Scotiabank reiterated an "outperform" rating on shares of Marathon Petroleum in a report on Friday, July 11th. Wolfe Research downgraded shares of Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. Evercore ISI upped their price target on shares of Marathon Petroleum from $170.00 to $210.00 and gave the stock an "in-line" rating in a report on Friday, September 19th. 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, Bank of America upped their price target on shares of Marathon Petroleum from $184.00 to $192.00 and gave the stock a "neutral" rating in a report on Wednesday, September 3rd. Eight research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $192.50.

Insiders Place Their Bets

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the company's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the sale, the insider owned 28,700 shares of the company's stock, valued at approximately $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kim K.W. Rucker sold 7,392 shares of the company's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the sale, 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 disclosure for this sale can be found here. Corporate insiders own 0.21% of the company's stock.

About Marathon Petroleum

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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