IFM Investors Pty Ltd Increases Stake in Marathon Petroleum Corporation $MPC

Key Points

• IFM Investors Pty Ltd increased its stake in Marathon Petroleum Corporation by 11.1%, acquiring an additional 5,653 shares for a total of 56,467 shares valued at approximately $8.2 million.
• Marathon Petroleum reported earnings of $3.96 per share, exceeding analysts' expectations and generating revenue of $34.1 billion during the last quarter, though revenue decreased by 11.1% year-over-year.
• The company announced a quarterly dividend of $0.91 per share, representing an annualized dividend yield of 2.0%, with a payout ratio of 54.01%.

IFM Investors Pty Ltd grew its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 11.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,467 shares of the oil and gas company's stock after acquiring an additional 5,653 shares during the period. IFM Investors Pty Ltd's holdings in Marathon Petroleum were worth $8,227,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Marathon Petroleum by 12.3% during 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 acquiring an additional 3,834,501 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Marathon Petroleum by 18.7% in the first quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company's stock valued at $1,722,664,000 after buying an additional 1,862,674 shares in the last quarter. Raymond James Financial Inc. raised its position in shares of Marathon Petroleum by 6.3% in the first 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 buying an additional 355,215 shares in the last quarter. Boston Partners raised its position in shares of Marathon Petroleum by 58.5% in the first quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company's stock valued at $791,274,000 after buying an additional 2,011,810 shares in the last quarter. Finally, Bank of New York Mellon Corp raised 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 valued at $725,878,000 after buying an additional 178,397 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the firm's stock in a transaction 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 transaction, the insider directly owned 28,700 shares of the company's stock, valued at $4,678,100. This trade represents a 27.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction 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 sale, the director directly owned 18,944 shares of the company's stock, valued at $3,315,200. This represents a 28.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Scotiabank reiterated an "outperform" rating on shares of Marathon Petroleum in a research report on Friday, July 11th. Morgan Stanley boosted their price objective on shares of Marathon Petroleum from $160.00 to $182.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Dbs Bank upgraded shares of Marathon Petroleum to a "moderate buy" rating in a research report on Monday, July 28th. Citigroup boosted their price objective on shares of Marathon Petroleum from $144.00 to $182.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Finally, Bank of America boosted their price objective on shares of Marathon Petroleum from $184.00 to $192.00 and gave the company a "neutral" rating in a research report on Wednesday, September 3rd. Eight equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Marathon Petroleum has a consensus rating of "Moderate Buy" and an average price target of $189.36.

Marathon Petroleum Price Performance

Shares of NYSE:MPC traded down $2.13 during trading on Friday, hitting $180.18. 1,500,292 shares of the company were exchanged, compared to its average volume of 1,733,300. 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 Corporation has a 1-year low of $115.10 and a 1-year high of $186.28. The company has a market capitalization of $54.78 billion, a P/E ratio of 26.73, a price-to-earnings-growth ratio of 3.68 and a beta of 0.97. The business's 50 day moving average is $172.81 and its 200-day moving average is $157.13.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $34.10 billion for the quarter, compared to analysts' expectations of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The business's quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.12 earnings per share. Equities analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

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

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.