Marathon Petroleum Corporation $MPC Stock Purchased by Fulcrum Asset Management LLP

Key Points

• Fulcrum Asset Management increased its Marathon Petroleum stake by 96,518% in the third quarter, ending the period with 10,628 shares valued at about $4.17 million. Institutional investors and hedge funds collectively own 76.77% of the stock.
• Analysts give MPC a consensus “Moderate Buy” rating and an average price target of $425.12. The company’s latest quarterly earnings beat estimates, with EPS of $26.93 versus $25.37 expected and revenue up 57.6% year over year.
• Marathon Petroleum declared a quarterly dividend of $1.00 per share, equivalent to $4.00 annually and a 1.0% yield. Insiders sold 21,691 shares worth about $7.78 million over the last quarter.

Fulcrum Asset Management LLP lifted its position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 96,518.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,628 shares of the oil and gas company's stock after purchasing an additional 10,617 shares during the quarter. Fulcrum Asset Management LLP's holdings in Marathon Petroleum were worth $4,166,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MPC. BlackRock Inc. purchased a new stake in shares of Marathon Petroleum in the 2nd quarter valued at approximately $6,648,958,000. Bank of New York Mellon Corp purchased a new stake in shares of Marathon Petroleum during the 2nd quarter valued at approximately $1,029,611,000. Bank of America Corp DE raised its position in shares of Marathon Petroleum by 1.6% during the 1st quarter. Bank of America Corp DE now owns 2,595,084 shares of the oil and gas company's stock valued at $633,668,000 after buying an additional 40,124 shares during the period. Amundi lifted its holdings in Marathon Petroleum by 17.5% in the second quarter. Amundi now owns 2,237,930 shares of the oil and gas company's stock valued at $572,172,000 after acquiring an additional 332,551 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Marathon Petroleum by 16.7% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,508,489 shares of the oil and gas company's stock valued at $385,675,000 after acquiring an additional 215,686 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MPC has been the subject of several recent analyst reports. Zacks Research raised Marathon Petroleum from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 4th. Wells Fargo & Company upped their price target on Marathon Petroleum from $560.00 to $564.00 and gave the company an "overweight" rating in a research note on Wednesday, November 4th. Mizuho increased their price target on Marathon Petroleum from $304.00 to $457.00 and gave the stock a "neutral" rating in a report on Thursday, October 8th. UBS Group set a $510.00 price objective on Marathon Petroleum in a research report on Friday, October 9th. Finally, The Goldman Sachs Group raised their price objective on Marathon Petroleum from $376.00 to $472.00 and gave the stock a "buy" rating in a research report on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Marathon Petroleum has an average rating of "Moderate Buy" and a consensus target price of $425.12.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, VP Erin M. Brzezinski sold 570 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $362.79, for a total transaction of $206,790.30. Following the sale, the vice president directly owned 1,576 shares in the company, valued at $571,757.04. This represents a 26.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Shawn M. Lyon sold 2,500 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $350.00, for a total transaction of $875,000.00. Following the completion of the transaction, the senior vice president directly owned 12,619 shares of the company's stock, valued at $4,416,650. This represents a 16.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 21,691 shares of company stock worth $7,780,127. Corporate insiders own 0.17% of the company's stock.

Marathon Petroleum Price Performance

MPC opened at $389.91 on Tuesday. The stock's 50-day moving average price is $422.11 and its 200 day moving average price is $296.41. Marathon Petroleum Corporation has a 12-month low of $161.93 and a 12-month high of $493.98. The company has a current ratio of 1.45, a quick ratio of 0.89 and a debt-to-equity ratio of 1.10. The firm has a market cap of $106.16 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 0.10 and a beta of 0.53.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its 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. The company had revenue of $56.03 billion during the quarter, compared to the consensus estimate of $46.60 billion. Marathon Petroleum had a return on equity of 55.82% and a net margin of 8.27%. Marathon Petroleum's revenue was up 57.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.01 EPS. As a group, sell-side analysts expect that Marathon Petroleum Corporation will post 66.31 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

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

Marathon Petroleum Company Profile

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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