1,009,830 Shares in Marathon Petroleum Corporation (NYSE:MPC) Bought by Nuveen LLC

Key Points

• Nuveen LLC acquired over 1 million shares of Marathon Petroleum Corporation, valued at approximately $147.1 million, increasing its ownership to 0.33% of the company.
• Marathon Petroleum recently reported a quarterly earnings per share of $3.96, surpassing analysts' expectations, despite a 11.1% decline in revenue year-over-year.
• The company will pay a quarterly dividend of $0.91 on September 10th, reflecting an annual yield of 2.3% and a payout ratio of 54.01%.

Nuveen LLC acquired a new position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,009,830 shares of the oil and gas company's stock, valued at approximately $147,122,000. Nuveen LLC owned about 0.33% of Marathon Petroleum as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Demars Financial Group LLC grew its holdings in Marathon Petroleum by 16,338.3% during the 4th quarter. Demars Financial Group LLC now owns 4,177,133 shares of the oil and gas company's stock valued at $582,710,000 after purchasing an additional 4,151,722 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Marathon Petroleum by 12.3% during the 1st quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company's stock worth $5,090,611,000 after buying an additional 3,834,501 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Marathon Petroleum by 14,969.1% in the 1st quarter. GAMMA Investing LLC now owns 1,540,963 shares of the oil and gas company's stock valued at $224,503,000 after buying an additional 1,530,737 shares during the period. Two Sigma Investments LP acquired a new position in Marathon Petroleum in the fourth quarter valued at approximately $81,318,000. Finally, Two Sigma Advisers LP bought a new position in shares of Marathon Petroleum during the fourth quarter valued at approximately $71,842,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Price Performance

Shares of MPC traded down $0.02 during trading hours on Friday, hitting $162.30. 1,146,823 shares of the company were exchanged, compared to its average volume of 2,647,211. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71. The company has a market capitalization of $49.34 billion, a PE ratio of 24.08, a PEG ratio of 2.94 and a beta of 0.90. The firm has a fifty day simple moving average of $169.37 and a 200-day simple moving average of $153.94. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $183.10.

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

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th will be paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, August 20th. Marathon Petroleum's payout ratio is 54.01%.

Insider Transactions at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 7,392 shares of the firm's 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 sale, the director owned 18,944 shares of the company's stock, valued at $3,315,200. This trade represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.21% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Morgan Stanley upped their price objective on Marathon Petroleum from $160.00 to $182.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Raymond James Financial restated an "outperform" rating and set a $200.00 price target (up previously from $180.00) on shares of Marathon Petroleum in a research report on Tuesday, July 15th. Evercore ISI initiated coverage on shares of Marathon Petroleum in a research report on Wednesday, June 18th. They issued an "in-line" rating and a $170.00 price objective on the stock. Mizuho upped their target price on shares of Marathon Petroleum from $168.00 to $184.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Finally, Citigroup lifted their price target on Marathon Petroleum from $144.00 to $182.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $185.29.

Marathon Petroleum Profile

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.