Price T Rowe Associates Inc. MD Has $535.47 Million Stake in Marathon Petroleum Corporation $MPC

Key Points

• Price T Rowe Associates Inc. MD increased its holdings in Marathon Petroleum Corporation by 26.5%, now owning 3,675,362 shares valued at approximately $535.47 million.
• Institutional investors own 76.77% of Marathon Petroleum, with other notable increases in holdings from firms like Vanguard Group and Boston Partners.
• Marathon Petroleum has recently reported earnings, exceeding estimates with a reported $3.96 earnings per share for the quarter and declared a quarterly dividend of $0.91 per share.

Price T Rowe Associates Inc. MD increased its stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 26.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,675,362 shares of the oil and gas company's stock after acquiring an additional 769,015 shares during the period. Price T Rowe Associates Inc. MD owned about 1.20% of Marathon Petroleum worth $535,465,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Fourth Dimension Wealth LLC bought a new stake in shares of Marathon Petroleum during the 4th quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC increased its holdings in Marathon Petroleum by 1,546.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company's stock worth $31,000 after buying an additional 201 shares during the last quarter. Hughes Financial Services LLC bought a new stake in Marathon Petroleum during the first quarter worth $32,000. Decker Retirement Planning Inc. lifted its stake in Marathon Petroleum by 1,621.4% in the first quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock valued at $35,000 after acquiring an additional 227 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC bought a new position in shares of Marathon Petroleum in the 1st quarter valued at about $35,000. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Price Performance

Shares of MPC stock traded up $0.83 during trading on Thursday, hitting $178.72. The company had a trading volume of 588,367 shares, compared to its average volume of 2,599,717. The firm has a market capitalization of $54.33 billion, a P/E ratio of 26.50, a price-to-earnings-growth ratio of 3.15 and a beta of 0.90. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $183.10. 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's 50-day moving average price is $169.99 and its 200 day moving average price is $155.00.

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

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $3.64 annualized dividend and a yield of 2.0%. Marathon Petroleum's dividend payout ratio is currently 54.01%.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the business's stock in a transaction that occurred on Friday, August 15th. The shares were 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 directly owned 28,700 shares in the company, valued at $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kim K.W. Rucker sold 7,392 shares of the firm's stock in a transaction on 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 approximately $3,315,200. This represents a 28.07% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. UBS Group upped their target price on shares of Marathon Petroleum from $175.00 to $203.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Barclays upped their price objective on Marathon Petroleum from $159.00 to $189.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Piper Sandler lifted their target price on Marathon Petroleum from $175.00 to $182.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. TD Cowen dropped their price target on Marathon Petroleum from $190.00 to $182.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Finally, Evercore ISI assumed coverage on Marathon Petroleum in a report on Wednesday, June 18th. They set an "in-line" rating and a $170.00 price target for the company. Eight research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $185.29.

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.