Marathon Petroleum Corporation $MPC Stake Boosted by Vestor Capital LLC

Key Points

• Vestor Capital increased its Marathon Petroleum stake by 5,350.5% in the third quarter, adding 5,939 shares to hold 6,050 shares valued at approximately $2.39 million.
• Marathon Petroleum reported quarterly earnings of $26.93 per share, beating the $25.37 consensus estimate; revenue rose 57.6% year over year to $56.03 billion.
• The company announced a quarterly dividend of $1 per share, equivalent to $4 annually and a 1.0% yield. Analysts’ average rating was “Moderate Buy,” with an average price target of $425.12.

Vestor Capital LLC lifted its position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 5,350.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,050 shares of the oil and gas company's stock after purchasing an additional 5,939 shares during the quarter. Vestor Capital LLC's holdings in Marathon Petroleum were worth $2,392,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Marathon Petroleum in the 2nd quarter worth about $6,648,958,000. Bank of New York Mellon Corp purchased a new position in Marathon Petroleum during the 2nd quarter valued at about $1,029,611,000. Bank of America Corp DE bought a new stake in Marathon Petroleum during the second quarter worth about $621,832,000. Legal & General Group Plc bought a new stake in Marathon Petroleum during the second quarter worth about $380,745,000. Finally, Deutsche Bank AG bought a new stake in Marathon Petroleum during the second quarter worth about $280,761,000. Hedge funds and other institutional investors own 76.77% of the company's stock.

Marathon Petroleum Trading Up 4.6%

Shares of NYSE MPC opened at $389.91 on Tuesday. The firm's 50 day moving average price is $422.11 and its 200-day moving average price is $296.41. Marathon Petroleum Corporation has a 52-week low of $161.93 and a 52-week high of $493.98. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.89 and a current ratio of 1.45. The company has a market cap of $106.16 billion, a PE ratio of 13.40, a P/E/G ratio of 0.10 and a beta of 0.53.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The oil and gas company reported $26.93 earnings per share for the quarter, beating the consensus estimate of $25.37 by $1.56. Marathon Petroleum had a net margin of 8.27% and a return on equity of 55.82%. The company had revenue of $56.03 billion during the quarter, compared to the consensus estimate of $46.60 billion. During the same quarter last year, the firm earned $3.01 earnings per share. The firm's quarterly revenue was up 57.6% compared to the same quarter last year. On average, equities research analysts expect that Marathon Petroleum Corporation will post 66.31 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, November 18th. Marathon Petroleum's dividend payout ratio (DPR) is currently 13.75%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Barclays lifted their target price on shares of Marathon Petroleum from $321.00 to $488.00 and gave the company an "overweight" rating in a report on Monday, October 12th. Piper Sandler lifted their price objective on Marathon Petroleum from $462.00 to $466.00 and gave the company an "overweight" rating in a research note on Thursday, November 5th. Evercore set a $330.00 target price on Marathon Petroleum in a report on Wednesday, August 5th. Wells Fargo & Company increased their target price on Marathon Petroleum from $560.00 to $564.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 4th. Finally, Raymond James Financial raised their price target on Marathon Petroleum from $350.00 to $445.00 and gave the company an "outperform" rating in a report on Monday, September 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $425.12.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, insider Molly Benson sold 17,196 shares of Marathon Petroleum stock in a transaction on Monday, August 17th. The stock was sold at an average price of $358.57, for a total value of $6,165,969.72. Following the completion of the sale, the insider owned 30,334 shares of the company's stock, valued at approximately $10,876,862.38. This trade represents a 36.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Erin M. Brzezinski sold 570 shares of the business's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total value of $206,790.30. Following the completion of the transaction, the vice president owned 1,576 shares of the company's stock, valued at $571,757.04. This represents a 26.56% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 21,691 shares of company stock worth $7,780,127. Insiders own 0.17% of the company's stock.

About Marathon Petroleum

Marathon Petroleum Corporation is an integrated downstream energy company focused on refining, marketing, and transporting petroleum products. Its refineries produce fuels and other products, including gasoline, diesel, jet fuel, asphalt, and petrochemical feedstocks.

The company sells transportation fuels and related products through a network of branded locations and other wholesale and commercial channels, primarily in the United States. Its midstream operations, conducted largely through its affiliated partnership MPLX, include gathering, processing, and transporting natural gas and natural gas liquids, as well as storing and transporting crude oil and refined products.

Marathon Petroleum was established as an independent company in 2011, when it was spun off from Marathon Oil Corporation.

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