Dynamic Technology Lab Private Ltd Invests $450,000 in Marathon Petroleum Corporation $MPC

Key Points

• Dynamic Technology Lab Private Ltd invested $450,000 in Marathon Petroleum Corporation during the first quarter, purchasing 3,090 shares of the company.
• Several institutional investors, including Vanguard Group Inc. and Wellington Management Group LLP, have increased their stakes in Marathon Petroleum, indicating strong interest in the stock.
• Marathon Petroleum recently announced a quarterly dividend of $0.91 per share, representing a 2.0% yield and a payout ratio of 54.01%.

Dynamic Technology Lab Private Ltd purchased a new stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,090 shares of the oil and gas company's stock, valued at approximately $450,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Marathon Petroleum by 12.3% in the first quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company's stock worth $5,090,611,000 after buying an additional 3,834,501 shares during the period. Wellington Management Group LLP boosted its position in Marathon Petroleum by 18.7% during the 1st quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company's stock worth $1,722,664,000 after acquiring an additional 1,862,674 shares during the period. Raymond James Financial Inc. grew its stake in Marathon Petroleum by 6.3% during the 1st quarter. Raymond James Financial Inc. now owns 6,037,532 shares of the oil and gas company's stock valued at $879,608,000 after acquiring an additional 355,215 shares in the last quarter. Boston Partners increased its holdings in shares of Marathon Petroleum by 58.5% in the 1st quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company's stock valued at $791,274,000 after purchasing an additional 2,011,810 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Marathon Petroleum by 3.7% in the first quarter. Bank of New York Mellon Corp now owns 4,982,348 shares of the oil and gas company's stock worth $725,878,000 after purchasing an additional 178,397 shares in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Performance

NYSE MPC opened at $182.14 on Friday. The firm has a 50-day moving average of $172.65 and a 200-day moving average of $156.93. 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 stock has a market cap of $55.37 billion, a PE ratio of 27.02, a P/E/G ratio of 3.67 and a beta of 0.97. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $186.28.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, beating analysts' consensus estimates of $3.22 by $0.74. The firm had revenue of $34.10 billion for the quarter, compared to analyst estimates of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.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 firm posted $4.12 EPS. On average, sell-side analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

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

Insider Activity at Marathon Petroleum

In related news, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction that occurred on 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 sale, the insider owned 28,700 shares in the company, valued at approximately $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MPC shares. UBS Group upped their price objective on shares of Marathon Petroleum from $175.00 to $203.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Morgan Stanley lifted their target price on shares of Marathon Petroleum from $160.00 to $182.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Dbs Bank raised shares of Marathon Petroleum to a "moderate buy" rating in a research note on Monday, July 28th. Bank of America lifted their target price on shares of Marathon Petroleum from $184.00 to $192.00 and gave the company a "neutral" rating in a research note on Wednesday, September 3rd. Finally, Evercore ISI initiated coverage on Marathon Petroleum in a research note on Wednesday, June 18th. They set an "in-line" rating and a $170.00 price target for the company. Eight research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Marathon Petroleum has an average rating of "Moderate Buy" and an average target price of $189.36.

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.

Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Corporation (NYSE:MPC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.