Retirement Planning Co of New England Inc. Buys New Position in Marathon Petroleum Corporation $MPC

Key Points

• Retirement Planning Co of New England Inc. has acquired a new stake in Marathon Petroleum, purchasing 9,295 shares valued at approximately $1.35 million.
• Analysts have mixed opinions on Marathon Petroleum, with price targets ranging from $170 to $203, and a consensus average rating of "Hold."
• Marathon Petroleum announced a quarterly dividend of $0.91 per share, which corresponds to an annualized yield of 2.0%.

Retirement Planning Co of New England Inc. purchased a new position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 9,295 shares of the oil and gas company's stock, valued at approximately $1,354,000.

A number of other institutional investors have also recently added to or reduced their stakes in MPC. Fourth Dimension Wealth LLC purchased a new stake in Marathon Petroleum in the 4th quarter valued at about $26,000. CBIZ Investment Advisory Services LLC grew its position in shares of 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 acquiring an additional 201 shares during the last quarter. Hughes Financial Services LLC purchased a new stake in shares of Marathon Petroleum during the first quarter worth approximately $32,000. WPG Advisers LLC acquired a new position in Marathon Petroleum during the first quarter worth $32,000. Finally, Decker Retirement Planning Inc. grew its holdings 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 purchasing an additional 227 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company's stock.

Insider Activity at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the completion of the transaction, the director directly owned 18,944 shares in the company, valued at approximately $3,315,200. The trade was a 28.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Molly R. Benson sold 10,879 shares of the business's 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 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. Insiders own 0.25% of the company's stock.

Marathon Petroleum Price Performance

Marathon Petroleum stock traded down $1.21 during mid-day trading on Wednesday, hitting $178.94. 1,751,294 shares of the company were exchanged, compared to its average volume of 1,758,215. The business has a fifty day moving average of $171.00 and a 200 day moving average of $155.73. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $54.40 billion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 3.27 and a beta of 0.97. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $183.50.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted 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. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The business 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 earned $4.12 earnings per share. The firm's quarterly revenue was down 11.1% compared to the same quarter last year. As a group, sell-side analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Wednesday, August 20th. Marathon Petroleum's dividend payout ratio (DPR) is currently 54.01%.

Wall Street Analyst Weigh In

MPC has been the topic of several recent analyst reports. UBS Group increased their target price on Marathon Petroleum from $175.00 to $203.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Mizuho lifted their target price on Marathon Petroleum from $168.00 to $184.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Dbs Bank raised Marathon Petroleum to a "moderate buy" rating in a research report on Monday, July 28th. Scotiabank reaffirmed an "outperform" rating on shares of Marathon Petroleum in a research note on Friday, July 11th. Finally, Wells Fargo & Company upped their target price on Marathon Petroleum from $182.00 to $205.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Eight investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $186.57.

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.