Kennondale Capital Management LLC Takes $2.87 Million Position in Marathon Petroleum Corporation (NYSE:MPC)

Kennondale Capital Management LLC purchased a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 19,718 shares of the oil and gas company's stock, valued at approximately $2,873,000. Marathon Petroleum comprises 3.1% of Kennondale Capital Management LLC's portfolio, making the stock its 3rd largest position.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Wellington Management Group LLP lifted its stake in Marathon Petroleum by 78.1% in the fourth quarter. Wellington Management Group LLP now owns 9,961,503 shares of the oil and gas company's stock worth $1,389,630,000 after acquiring an additional 4,367,774 shares during the period. Demars Financial Group LLC lifted its position in Marathon Petroleum by 16,338.3% during the fourth quarter. Demars Financial Group LLC now owns 4,177,133 shares of the oil and gas company's stock valued at $582,710,000 after buying an additional 4,151,722 shares during the period. Norges Bank purchased a new position in Marathon Petroleum during the fourth quarter valued at $453,427,000. GAMMA Investing LLC lifted its position in Marathon Petroleum by 14,969.1% during the first quarter. GAMMA Investing LLC now owns 1,540,963 shares of the oil and gas company's stock valued at $224,503,000 after buying an additional 1,530,737 shares during the period. Finally, Two Sigma Investments LP purchased a new position in Marathon Petroleum during the fourth quarter valued at $81,318,000. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock traded down $6.01 during trading hours on Thursday, reaching $171.53. 1,964,528 shares of the stock traded hands, compared to its average volume of 2,757,933. The company has a 50 day moving average price of $167.38 and a 200 day moving average price of $151.93. The company has a quick ratio of 0.73, a current ratio of 1.19 and a debt-to-equity ratio of 1.16. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $183.31. The firm has a market capitalization of $52.70 billion, a price-to-earnings ratio of 24.13, a P/E/G ratio of 3.39 and a beta of 0.88.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.16. The business had revenue of $31.85 billion for the quarter, compared to analysts' expectations of $28.91 billion. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. The company's revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.58 EPS. On average, equities research analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st were issued a dividend of $0.91 per share. The ex-dividend date was Wednesday, May 21st. This represents a $3.64 annualized dividend and a yield of 2.12%. Marathon Petroleum's payout ratio is presently 51.20%.

Insiders Place Their Bets

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the stock in a transaction 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 owned 18,944 shares in the company, valued at $3,315,200. This trade represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Evercore ISI assumed coverage on Marathon Petroleum in a research report on Wednesday, June 18th. They set an "in-line" rating and a $170.00 price objective for the company. Wall Street Zen upgraded Marathon Petroleum from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Scotiabank restated an "outperform" rating on shares of Marathon Petroleum in a report on Friday, July 11th. Wolfe Research downgraded Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. Finally, Citigroup raised their price target on Marathon Petroleum from $144.00 to $182.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, Marathon Petroleum currently has an average rating of "Hold" and an average target price of $183.93.

Marathon Petroleum Company 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.