Oder Investment Management LLC Takes $805,000 Position in Marathon Petroleum Corporation $MPC

Key Points

• Oder Investment Management LLC recently acquired 5,525 shares of Marathon Petroleum Corporation (NYSE:MPC), amounting to an investment of approximately $805,000.
• Marathon Petroleum reported a $3.96 EPS for the last quarter, exceeding analysts’ expectations, with total revenue reaching $34.10 billion.
• The company announced a quarterly dividend of $0.91, set to be paid on September 10th, representing an annualized dividend yield of 2.2%.

Oder Investment Management LLC purchased a new position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,525 shares of the oil and gas company's stock, valued at approximately $805,000.

Other institutional investors have also recently made changes to their positions in the company. Good Steward Wealth Advisors LLC bought a new position in shares of Marathon Petroleum in the first quarter worth $346,000. Silver Oak Securities Incorporated bought a new position in Marathon Petroleum in the first quarter valued at $339,000. Financial Partners Group LLC increased its stake in Marathon Petroleum by 65.8% in the first quarter. Financial Partners Group LLC now owns 3,937 shares of the oil and gas company's stock valued at $574,000 after acquiring an additional 1,563 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in Marathon Petroleum by 8.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 44,387 shares of the oil and gas company's stock valued at $6,467,000 after acquiring an additional 3,291 shares during the last quarter. Finally, Weatherly Asset Management L. P. bought a new position in Marathon Petroleum in the first quarter valued at $216,000. Institutional investors own 76.77% of the company's stock.

Insider Activity

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the firm's stock in a transaction dated Thursday, July 3rd. The shares were 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 directly owned 18,944 shares in the company, 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. Also, insider Molly R. Benson sold 10,879 shares of the firm's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the sale, the insider owned 28,700 shares of the company's stock, valued at $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MPC. Wall Street Zen raised Marathon Petroleum from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Evercore ISI started coverage on Marathon Petroleum in a research note on Wednesday, June 18th. They set an "in-line" rating and a $170.00 price objective on the stock. UBS Group raised their price objective on Marathon Petroleum from $175.00 to $203.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Scotiabank reaffirmed an "outperform" rating on shares of Marathon Petroleum in a research note on Friday, July 11th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $200.00 price objective (up from $180.00) on shares of Marathon Petroleum in a research note on Tuesday, July 15th. Eight investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $185.29.

Marathon Petroleum Stock Up 1.4%

MPC traded up $2.2930 on Wednesday, hitting $165.7630. The company had a trading volume of 1,146,855 shares, compared to its average volume of 2,632,041. 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 Corporation has a 52-week low of $115.10 and a 52-week high of $183.10. The stock has a fifty day simple moving average of $169.50 and a 200-day simple moving average of $154.26. The firm has a market capitalization of $50.40 billion, a P/E ratio of 24.59, a P/E/G ratio of 2.96 and a beta of 0.90.

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

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th will be issued a $0.91 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $3.64 annualized dividend and a yield of 2.2%. Marathon Petroleum's dividend payout ratio (DPR) is 54.01%.

Marathon Petroleum Company 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.