Patton Fund Management Inc. Acquires Shares of 1,476 Marathon Petroleum Corporation $MPC

Key Points

• Patton Fund Management Inc. has acquired 1,476 shares of Marathon Petroleum Corporation valued at approximately $245,000, indicating growing institutional interest in the oil and gas sector.
• Marathon Petroleum's stock has a market cap of $60.45 billion and shows significant volatility with a one year low of $115.10 and a high of $201.61.
• The company reported a quarterly earnings EPS of $3.96, surpassing analysts' expectations of $3.22, while also declaring a dividend of $0.91 per share, yielding 1.8% annually.

Patton Fund Management Inc. acquired a new stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,476 shares of the oil and gas company's stock, valued at approximately $245,000.

Other hedge funds also recently bought and sold shares of the company. CBIZ Investment Advisory Services LLC grew its position in Marathon Petroleum by 1,546.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company's stock valued at $31,000 after acquiring an additional 201 shares during the last quarter. Hughes Financial Services LLC purchased a new position in Marathon Petroleum during the 1st quarter worth $32,000. WPG Advisers LLC purchased a new position in Marathon Petroleum during the 1st quarter worth $32,000. Decker Retirement Planning Inc. increased its holdings in Marathon Petroleum by 1,621.4% during the 1st quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock worth $35,000 after purchasing an additional 227 shares during the period. Finally, Barnes Dennig Private Wealth Management LLC purchased a new position in Marathon Petroleum during the 1st quarter worth $35,000. Institutional investors own 76.77% of the company's stock.

Marathon Petroleum Stock Performance

Shares of MPC opened at $198.85 on Friday. The stock has a 50-day moving average of $175.09 and a two-hundred day moving average of $160.53. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $201.61. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. The stock has a market cap of $60.45 billion, a P/E ratio of 29.50, a P/E/G ratio of 3.44 and a beta of 0.97.

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 EPS 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 company had revenue of $34.10 billion during the quarter, compared to analysts' expectations of $31.70 billion. During the same quarter in the previous year, the firm posted $4.12 EPS. The firm's revenue was down 11.1% compared to the same quarter last year. As a group, research analysts predict 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 paid a dividend of $0.91 per share. The ex-dividend date was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.8%. Marathon Petroleum's dividend payout ratio (DPR) is presently 54.01%.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum 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 transaction, the insider owned 28,700 shares in the company, valued at approximately $4,678,100. This trade represents a 27.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum 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 transaction, the director 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 disclosure for this sale can be found here. Company insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

MPC has been the topic of several research reports. UBS Group raised their price objective on Marathon Petroleum from $203.00 to $220.00 and gave the stock a "buy" rating in a report on Friday. TD Cowen dropped their target price on Marathon Petroleum from $190.00 to $182.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Wolfe Research cut Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 14th. Raymond James Financial increased their target price on Marathon Petroleum from $195.00 to $199.00 and gave the company an "outperform" rating in a research report on Tuesday, September 9th. Finally, Evercore ISI raised their price objective on Marathon Petroleum from $170.00 to $210.00 and gave the stock an "in-line" rating in a research report on Friday, September 19th. Eight equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Marathon Petroleum has a consensus rating of "Moderate Buy" and a consensus target price of $195.00.

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.

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