Marathon Petroleum Corporation $MPC Shares Bought by Ieq Capital LLC

Key Points

• Ieq Capital LLC increased its stake in Marathon Petroleum by 3.5%, acquiring an additional 1,909 shares, bringing its total holdings to 56,240 shares worth approximately $8.19 million.
• Marathon Petroleum's recent quarterly earnings exceeded expectations, reporting an EPS of $3.96 against an estimate of $3.22, with revenues of $34.1 billion.
• The company declared a quarterly dividend of $0.91 per share, resulting in an annualized dividend of $3.64 and a yield of 2.0%, with a dividend payout ratio of 54.01%.

Ieq Capital LLC increased its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 3.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 56,240 shares of the oil and gas company's stock after purchasing an additional 1,909 shares during the period. Ieq Capital LLC's holdings in Marathon Petroleum were worth $8,194,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Beverly Hills Private Wealth LLC increased its position in Marathon Petroleum by 1.2% during the fourth quarter. Beverly Hills Private Wealth LLC now owns 6,655 shares of the oil and gas company's stock valued at $928,000 after acquiring an additional 76 shares during the last quarter. Sunpointe LLC lifted its stake in Marathon Petroleum by 5.1% in the first quarter. Sunpointe LLC now owns 1,681 shares of the oil and gas company's stock worth $245,000 after acquiring an additional 81 shares during the period. Valmark Advisers Inc. raised its holdings in Marathon Petroleum by 2.3% in the first quarter. Valmark Advisers Inc. now owns 3,801 shares of the oil and gas company's stock worth $554,000 after purchasing an additional 86 shares in the last quarter. Southland Equity Partners LLC raised its holdings in Marathon Petroleum by 6.2% in the first quarter. Southland Equity Partners LLC now owns 1,549 shares of the oil and gas company's stock worth $226,000 after purchasing an additional 90 shares in the last quarter. Finally, Prudent Man Advisors LLC raised its holdings in Marathon Petroleum by 2.3% in the first quarter. Prudent Man Advisors LLC now owns 4,056 shares of the oil and gas company's stock worth $591,000 after purchasing an additional 91 shares in the last quarter. Institutional investors own 76.77% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Evercore ISI assumed coverage on shares of Marathon Petroleum in a report on Wednesday, June 18th. They set an "in-line" rating and a $170.00 price objective on the stock. Citigroup upped their price objective on Marathon Petroleum from $144.00 to $182.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. Wall Street Zen upgraded Marathon Petroleum from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Raymond James Financial restated an "outperform" rating and issued a $200.00 price objective (up previously from $180.00) on shares of Marathon Petroleum in a report on Tuesday, July 15th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Marathon Petroleum in a research note on Friday, July 11th. Eight analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $185.29.

Insider Activity

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the completion of the sale, the director owned 18,944 shares in the company, valued at $3,315,200. This trade represents a 28.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $1,773,277.00. Following the completion of the transaction, the insider owned 28,700 shares of the company's stock, valued at $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. Company insiders own 0.25% of the company's stock.

Marathon Petroleum Price Performance

MPC stock traded down $0.44 on Tuesday, reaching $179.27. 1,238,717 shares of the company's stock were exchanged, compared to its average volume of 2,593,727. The stock has a fifty day moving average of $170.70 and a 200-day moving average of $155.56. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. The firm has a market cap of $54.50 billion, a PE ratio of 26.56, a P/E/G ratio of 3.27 and a beta of 0.97. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $183.10.

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 EPS for the quarter, beating analysts' consensus estimates of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The business had revenue of $34.10 billion for the quarter, compared to analyst estimates of $31.70 billion. During the same quarter last year, the company earned $4.12 earnings per share. The business's revenue for the quarter was down 11.1% compared to the same quarter last year. As a group, equities analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

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

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.