Diversified Enterprises LLC Acquires New Position in Marathon Petroleum Corporation $MPC

Key Points

• Diversified Enterprises LLC has acquired a new position in Marathon Petroleum Corporation, purchasing 1,325 shares valued at approximately $220,000.
• Wall Street analysts have increased their target prices for Marathon Petroleum, with Citigroup raising the target from $144 to $182, indicating a strong market interest in the stock.
• Marathon Petroleum recently reported earnings of $3.96 per share, surpassing estimates, but experienced a year-over-year revenue decline of 11.1%.

Diversified Enterprises LLC acquired a new position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,325 shares of the oil and gas company's stock, valued at approximately $220,000.

Several other institutional investors and hedge funds also recently bought and sold shares of MPC. CBIZ Investment Advisory Services LLC grew its holdings in shares of 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 purchased a new position in Marathon Petroleum during the 1st quarter worth $32,000. WPG Advisers LLC acquired a new position in Marathon Petroleum during the 1st quarter valued at approximately $32,000. Decker Retirement Planning Inc. grew its holdings 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 valued at $35,000 after purchasing an additional 227 shares during the period. Finally, Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Marathon Petroleum during the 1st quarter worth about $35,000. 76.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MPC has been the topic of several recent analyst reports. Citigroup increased their target price on Marathon Petroleum from $144.00 to $182.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. Raymond James Financial lifted their target price on Marathon Petroleum from $195.00 to $199.00 and gave the company an "outperform" rating in a research report on Tuesday, September 9th. BMO Capital Markets boosted their price objective on shares of Marathon Petroleum from $195.00 to $208.00 and gave the company an "outperform" rating in a research report on Monday, September 22nd. Evercore ISI increased their price objective on shares of Marathon Petroleum from $170.00 to $210.00 and gave the stock an "in-line" rating in a research report on Friday, September 19th. Finally, Morgan Stanley raised their target price on Marathon Petroleum from $160.00 to $182.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Eight equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, Marathon Petroleum presently has an average rating of "Moderate Buy" and an average price target of $195.00.

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $198.85 on Friday. The firm has a 50-day moving average price of $175.09 and a 200-day moving average price of $160.53. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $60.45 billion, a PE ratio of 29.50, a price-to-earnings-growth ratio of 3.44 and a beta of 0.97. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $201.61.

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

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Wednesday, August 20th. Marathon Petroleum's dividend payout ratio (DPR) is presently 54.01%.

Insider Buying and Selling at Marathon Petroleum

In related news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the transaction, the insider owned 28,700 shares in the company, valued at approximately $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kim K.W. Rucker sold 7,392 shares of the firm's stock in a transaction dated Thursday, July 3rd. The stock was 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 of the company's stock, valued at $3,315,200. This trade represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Marathon Petroleum 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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