Marathon Petroleum Corporation $MPC Shares Purchased by Ethic Inc.

Key Points

• Ethic Inc. increased its holdings in Marathon Petroleum by 23.1% during Q1, bringing its total to 8,879 shares valued at approximately $1.3 million.
• Numerous large investors have raised their positions in Marathon Petroleum, with Vanguard Group increasing their stake by 12.3%, now owning shares worth over $5 billion.
• Marathon Petroleum recently announced a quarterly dividend of $0.91 per share, with an annualized yield of 2.2%, and a payout ratio of 54.01%.

Ethic Inc. raised its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 23.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,879 shares of the oil and gas company's stock after purchasing an additional 1,667 shares during the period. Ethic Inc.'s holdings in Marathon Petroleum were worth $1,302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Good Steward Wealth Advisors LLC acquired a new stake in Marathon Petroleum in the 1st quarter valued at about $346,000. Silver Oak Securities Incorporated acquired a new stake in shares of Marathon Petroleum during the 1st quarter worth about $339,000. Financial Partners Group LLC raised its position in shares of Marathon Petroleum by 65.8% during the 1st quarter. Financial Partners Group LLC now owns 3,937 shares of the oil and gas company's stock worth $574,000 after acquiring an additional 1,563 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Marathon Petroleum by 8.0% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 44,387 shares of the oil and gas company's stock worth $6,467,000 after acquiring an additional 3,291 shares in the last quarter. Finally, Weatherly Asset Management L. P. acquired a new stake in shares of Marathon Petroleum during the 1st quarter worth about $216,000. Institutional investors and hedge funds own 76.77% of the company's stock.

Marathon Petroleum Stock Performance

Shares of MPC stock traded up $5.5890 during midday trading on Friday, hitting $170.5290. The company had a trading volume of 1,733,969 shares, compared to its average volume of 1,667,704. The company's 50 day simple moving average is $169.60 and its 200 day simple moving average is $154.56. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $183.10. The stock has a market cap of $51.84 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 3.00 and a beta of 0.90. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71.

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

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Wednesday, August 20th. Marathon Petroleum's dividend payout ratio (DPR) is 54.01%.

Insider Buying and Selling

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 stock was sold at an average price of $175.00, for a total value of $1,293,600.00. Following the sale, the director directly owned 18,944 shares in the company, valued at $3,315,200. The trade was a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction that occurred on 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. This trade 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 insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MPC. TD Cowen cut their target price on Marathon Petroleum from $190.00 to $182.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Wall Street Zen raised Marathon Petroleum from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Piper Sandler raised their target price on Marathon Petroleum from $175.00 to $182.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Mizuho raised their target price on Marathon Petroleum from $168.00 to $184.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Finally, Evercore ISI started coverage on Marathon Petroleum in a research report on Wednesday, June 18th. They set an "in-line" rating and a $170.00 price target on the stock. Eight analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $185.29.

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.