Northeast Financial Group Inc. Buys Shares of 1,308 Marathon Petroleum Corporation $MPC

Key Points

• Northeast Financial Group Inc. purchased 1,308 shares of Marathon Petroleum Corporation for about $217,000, as stated in their recent Form 13F filing.
• Institutional investors and hedge funds now own 76.77% of Marathon Petroleum's stock, indicating strong institutional interest in the company.
• Marathon Petroleum's quarterly earnings showed an EPS of $3.96, exceeding expectations and reflecting a revenue of $34.10 billion, despite an 11.1% year-over-year decrease.

Northeast Financial Group Inc. bought a new stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,308 shares of the oil and gas company's stock, valued at approximately $217,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Marathon Petroleum by 12.3% during the first quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company's stock worth $5,090,611,000 after purchasing an additional 3,834,501 shares during the period. Boston Partners raised its position in Marathon Petroleum by 58.5% in the 1st quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company's stock valued at $791,274,000 after buying an additional 2,011,810 shares during the last quarter. Wellington Management Group LLP raised its position in Marathon Petroleum by 18.7% in the 1st quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company's stock valued at $1,722,664,000 after buying an additional 1,862,674 shares during the last quarter. Nuveen LLC acquired a new stake in Marathon Petroleum in the 1st quarter valued at approximately $147,122,000. Finally, Price T Rowe Associates Inc. MD raised its position in Marathon Petroleum by 26.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,675,362 shares of the oil and gas company's stock valued at $535,465,000 after buying an additional 769,015 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Bank of America lifted their target price on Marathon Petroleum from $184.00 to $192.00 and gave the company a "neutral" rating in a research report on Wednesday, September 3rd. Scotiabank reissued an "outperform" rating on shares of Marathon Petroleum in a research report on Friday, July 11th. Citigroup lifted their target price on Marathon Petroleum from $144.00 to $182.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Morgan Stanley raised their price target on Marathon Petroleum from $160.00 to $182.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Finally, Wolfe Research downgraded Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Eight analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $195.00.

Marathon Petroleum Stock Performance

MPC opened at $192.75 on Wednesday. The business has a fifty day simple moving average of $175.87 and a 200 day simple moving average of $161.31. The company has a market capitalization of $58.60 billion, a PE ratio of 28.60, a price-to-earnings-growth ratio of 3.41 and a beta of 0.97. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $201.61. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.74. The business had revenue of $34.10 billion during the quarter, compared to the consensus estimate of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The firm's quarterly revenue was down 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $4.12 EPS. Research analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were issued a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.64 annualized dividend and a yield of 1.9%. Marathon Petroleum's payout ratio is currently 54.01%.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum 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 completion of the transaction, the director directly owned 18,944 shares of the company's stock, valued at $3,315,200. The trade was a 28.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction on Friday, August 15th. The shares were sold at an average price of $163.00, for a total value of $1,773,277.00. Following the completion of the transaction, the insider directly owned 28,700 shares of the company's stock, valued at $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

About Marathon Petroleum

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.

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