North Dakota State Investment Board Purchases New Position in Marathon Petroleum Corporation $MPC

Key Points

• North Dakota State Investment Board disclosed a new position in Marathon Petroleum, buying 10,542 shares valued at about $1.7 million in the fourth quarter.
• Marathon Petroleum’s latest quarterly results were strong, with EPS of $1.65 beating estimates by a wide margin and revenue of $34.2 billion topping expectations. The company also boosted its stock buyback program, which reinforced investor confidence.
• The company recently declared a $1.00 quarterly dividend and now offers an annualized payout of $4.00 per share, yielding about 1.5%. Analyst sentiment remains constructive, with a consensus rating of Moderate Buy and an average price target of $259.44.

North Dakota State Investment Board purchased a new stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,542 shares of the oil and gas company's stock, valued at approximately $1,714,000.

Other large investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its holdings in Marathon Petroleum by 332.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 320,499 shares of the oil and gas company's stock worth $52,123,000 after buying an additional 246,384 shares during the period. Merewether Investment Management LP purchased a new stake in Marathon Petroleum during the second quarter worth $35,548,000. Amundi lifted its holdings in Marathon Petroleum by 11.8% during the third quarter. Amundi now owns 1,626,862 shares of the oil and gas company's stock worth $314,830,000 after buying an additional 172,172 shares during the period. Boston Partners lifted its holdings in Marathon Petroleum by 2.3% during the third quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company's stock worth $1,214,522,000 after buying an additional 141,691 shares during the period. Finally, Credit Agricole S A purchased a new stake in Marathon Petroleum during the third quarter worth $20,370,000. Hedge funds and other institutional investors own 76.77% of the company's stock.

Marathon Petroleum Stock Performance

Shares of MPC opened at $262.86 on Wednesday. Marathon Petroleum Corporation has a 12 month low of $154.65 and a 12 month high of $263.50. The stock has a fifty day moving average price of $236.25 and a 200-day moving average price of $204.45. The company has a current ratio of 1.18, a quick ratio of 0.73 and a debt-to-equity ratio of 1.31. The firm has a market cap of $76.74 billion, a PE ratio of 17.16, a P/E/G ratio of 0.34 and a beta of 0.53.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $33.42 billion. During the same quarter in the prior year, the business posted ($0.24) EPS. The business's revenue for the quarter was up 8.5% compared to the same quarter last year. Equities research analysts predict that Marathon Petroleum Corporation will post 29.67 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 given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Wednesday, May 20th. Marathon Petroleum's dividend payout ratio is presently 26.11%.

Trending Headlines about Marathon Petroleum

Here are the key news stories impacting Marathon Petroleum this week:

• Positive Sentiment: Marathon Petroleum’s Q1 results beat expectations, and the company boosted its stock buyback program, reinforcing the view that management is returning more cash to shareholders. Marathon Petroleum (MPC) Exceeds Estimates in Q1, Boosts Stock Buyback Program
• Positive Sentiment: Several articles highlighted MPC as a top momentum stock and a name showing relative price strength, which can attract momentum investors and support the stock’s recent rise. Why Marathon Petroleum (MPC) is a Top Momentum Stock for the Long-Term
• Positive Sentiment: Recent valuation coverage focused on MPC’s strong multi-period share gains, with the stock up sharply over the past month, quarter, and year-to-date, reinforcing bullish sentiment around the name. A Look At Marathon Petroleum (MPC) Valuation After Strong Multi Period Share Price Gains
• Neutral Sentiment: Marathon Petroleum also appeared in a news item about Aquanta Vision’s pre-seed funding for methane leak detection, where MPC was listed as a participant through its venture/technology arm. This is strategically interesting but not likely a near-term stock driver. Aquanta Vision Secures Pre-Seed Funding to Advance Real-Time Methane Leak Detection

Insider Activity

In related news, insider Ricky D. Hessling sold 1,810 shares of the company's stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $224.78, for a total value of $406,851.80. Following the transaction, the insider directly owned 10,188 shares of the company's stock, valued at $2,290,058.64. This represents a 15.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders sold 4,473 shares of company stock valued at $1,015,428. 0.17% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MPC has been the subject of a number of analyst reports. Citigroup upped their target price on Marathon Petroleum from $243.00 to $257.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Scotiabank upped their target price on Marathon Petroleum from $174.00 to $210.00 and gave the stock a "sector outperform" rating in a report on Wednesday, April 22nd. Wells Fargo & Company increased their price objective on Marathon Petroleum to $335.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Mizuho increased their price objective on Marathon Petroleum from $205.00 to $224.00 and gave the company a "neutral" rating in a report on Tuesday, March 17th. Finally, Barclays increased their price objective on Marathon Petroleum from $230.00 to $270.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $259.44.

About Marathon Petroleum

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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