Marathon Petroleum Corporation $MPC Shares Bought by Convergence Investment Partners LLC

Key Points

• Convergence Investment Partners LLC increased its Marathon Petroleum stake by 191.8% in Q4, holding 23,871 shares worth about $3.88 million after the purchase.
• Marathon Petroleum’s latest earnings beat expectations, reporting $1.65 EPS versus $0.74 expected and revenue of $34.2 billion, up 8.5% year over year.
• Analyst sentiment remains constructive, with several firms raising price targets and the consensus view standing at Moderate Buy; the stock also recently announced a $1.00 quarterly dividend payable June 10.

Convergence Investment Partners LLC raised its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 191.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,871 shares of the oil and gas company's stock after acquiring an additional 15,690 shares during the period. Convergence Investment Partners LLC's holdings in Marathon Petroleum were worth $3,882,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MPC. Navalign LLC acquired a new position in Marathon Petroleum in the fourth quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC acquired a new position in Marathon Petroleum in the fourth quarter valued at approximately $31,000. WFA of San Diego LLC acquired a new position in Marathon Petroleum in the second quarter valued at approximately $33,000. Ares Financial Consulting LLC acquired a new position in Marathon Petroleum in the fourth quarter valued at approximately $34,000. Finally, Strategic Wealth Advisors LLC acquired a new position in Marathon Petroleum in the fourth quarter valued at approximately $36,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Ricky D. Hessling sold 1,626 shares of the business's stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $228.18, for a total transaction of $371,020.68. Following the sale, the insider owned 7,525 shares of the company's stock, valued at $1,717,054.50. The trade was a 17.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 4,473 shares of company stock worth $1,015,428 over the last quarter. 0.17% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MPC shares. Jefferies Financial Group boosted their price objective on Marathon Petroleum from $263.00 to $279.00 and gave the stock a "buy" rating in a research report on Monday, April 13th. The Goldman Sachs Group boosted their price objective on Marathon Petroleum from $264.00 to $291.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Zacks Research upgraded Marathon Petroleum from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 7th. JPMorgan Chase & Co. boosted their price objective on Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. Finally, Wall Street Zen upgraded Marathon Petroleum from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 10th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $259.44.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $255.16 on Friday. Marathon Petroleum Corporation has a 12 month low of $154.65 and a 12 month high of $261.61. The stock has a market cap of $74.49 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 0.34 and a beta of 0.53. The stock's 50 day moving average price is $234.57 and its 200 day moving average price is $203.45. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.18 and a quick ratio of 0.73.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, topping the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The firm had revenue of $34.20 billion for the quarter, compared to analysts' expectations of $33.42 billion. During the same quarter in the previous year, the company earned ($0.24) earnings per share. The firm's quarterly revenue was up 8.5% compared to the same quarter last year. Equities research analysts anticipate that Marathon Petroleum Corporation will post 28.83 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $4.00 annualized dividend and a yield of 1.6%. Marathon Petroleum's payout ratio is presently 26.11%.

Marathon Petroleum Profile

Marathon Petroleum Corporation NYSE: MPC is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum's operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.

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