Robeco Institutional Asset Management B.V. Purchases 108,016 Shares of Marathon Petroleum Corporation $MPC

Key Points

• Robeco Institutional Asset Management B.V. increased its holdings in Marathon Petroleum by 503.3%, acquiring an additional 108,016 shares during the second quarter, bringing its total to 129,477 shares valued at $21.5 million.
• Wall Street analysts have boosted their price targets for Marathon Petroleum, with Citigroup raising its target from $144 to $182 and Piper Sandler increasing it from $184 to $222, reflecting positive sentiment in the market.
• Marathon Petroleum declared a quarterly dividend of $0.91, with a current payout ratio of 54.01% and an annualized dividend yield of 1.9%.

Robeco Institutional Asset Management B.V. grew its position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 503.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 129,477 shares of the oil and gas company's stock after acquiring an additional 108,016 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Marathon Petroleum were worth $21,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Woodward Diversified Capital LLC purchased a new stake in Marathon Petroleum during the second quarter valued at $306,000. Madrona Financial Services LLC bought a new stake in shares of Marathon Petroleum in the 2nd quarter worth about $210,000. Northeast Financial Group Inc. purchased a new stake in shares of Marathon Petroleum during the 2nd quarter valued at about $217,000. Trilogy Capital Inc. lifted its holdings in shares of Marathon Petroleum by 8.3% in the 2nd quarter. Trilogy Capital Inc. now owns 1,850 shares of the oil and gas company's stock valued at $307,000 after acquiring an additional 141 shares during the last quarter. Finally, Marino Stram & Associates LLC lifted its holdings in shares of Marathon Petroleum by 4.9% in the 2nd quarter. Marino Stram & Associates LLC now owns 11,961 shares of the oil and gas company's stock valued at $1,987,000 after acquiring an additional 564 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MPC has been the topic of a number of recent research reports. Citigroup upped their price objective on Marathon Petroleum from $144.00 to $182.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Raymond James Financial increased their price target on Marathon Petroleum from $195.00 to $199.00 and gave the company an "outperform" rating in a report on Tuesday, September 9th. Piper Sandler lifted their price objective on shares of Marathon Petroleum from $184.00 to $222.00 and gave the stock a "neutral" rating in a research note on Thursday, September 11th. Weiss Ratings reissued a "hold (c)" rating on shares of Marathon Petroleum in a research note on Saturday, September 27th. Finally, Barclays raised their target price on shares of Marathon Petroleum from $159.00 to $189.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Eight analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $196.29.

Marathon Petroleum Stock Up 0.6%

Shares of MPC opened at $193.31 on Friday. The firm has a fifty day moving average price of $177.02 and a 200-day moving average price of $162.25. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $58.77 billion, a P/E ratio of 28.68, a P/E/G ratio of 3.35 and a beta of 0.90. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $201.61.

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 EPS for the quarter, topping the consensus estimate of $3.22 by $0.74. The company had revenue of $34.10 billion for the quarter, compared to the consensus estimate of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The firm's revenue was down 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $4.12 EPS. Equities research analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were issued a $0.91 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.9%. Marathon Petroleum's payout ratio is presently 54.01%.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the firm's stock in a transaction on 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 transaction, the insider directly owned 28,700 shares in the company, valued at $4,678,100. This trade represents a 27.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.21% of the stock is currently owned by company insiders.

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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