Southeast Asset Advisors LLC Invests $222,000 in Marathon Petroleum Corporation $MPC

Key Points

• Southeast Asset Advisors LLC acquired 1,525 shares of Marathon Petroleum valued at approximately $222,000, highlighting continued interest from institutional investors in the oil and gas sector.
• Marathon Petroleum announced a quarterly dividend of $0.91 per share, equating to an annualized yield of 2.1%, with the payout expected on September 10th.
• The company's recent performance showed a 12-month low of $115.10 and a high of $183.10, indicating fluctuations in its stock price within the past year.

Southeast Asset Advisors LLC bought a new position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 1,525 shares of the oil and gas company's stock, valued at approximately $222,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Marathon Petroleum by 12.3% during the 1st quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company's stock worth $5,090,611,000 after purchasing an additional 3,834,501 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Marathon Petroleum by 18.7% during the 1st quarter. Wellington Management Group LLP now owns 11,824,177 shares of the oil and gas company's stock worth $1,722,664,000 after purchasing an additional 1,862,674 shares during the last quarter. Raymond James Financial Inc. lifted its stake in shares of Marathon Petroleum by 6.3% during the 1st quarter. Raymond James Financial Inc. now owns 6,037,532 shares of the oil and gas company's stock worth $879,608,000 after purchasing an additional 355,215 shares during the last quarter. Boston Partners lifted its stake in shares of Marathon Petroleum by 58.5% during the 1st quarter. Boston Partners now owns 5,448,514 shares of the oil and gas company's stock worth $791,274,000 after purchasing an additional 2,011,810 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Marathon Petroleum by 3.7% during the 1st quarter. Bank of New York Mellon Corp now owns 4,982,348 shares of the oil and gas company's stock valued at $725,878,000 after buying an additional 178,397 shares in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the 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 sale, the director directly owned 18,944 shares of the company's stock, valued at approximately $3,315,200. This trade represents a 28.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Molly R. Benson sold 10,879 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $163.00, for a total value of $1,773,277.00. Following the sale, the insider directly owned 28,700 shares of the company's stock, valued at $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company's stock.

Marathon Petroleum Trading Up 0.3%

NYSE MPC traded up $0.49 on Friday, reaching $179.79. 1,116,281 shares of the company were exchanged, compared to its average volume of 2,597,968. The business's fifty day moving average price is $170.22 and its 200 day moving average price is $155.17. The stock has a market capitalization of $54.66 billion, a P/E ratio of 26.67, a price-to-earnings-growth ratio of 3.23 and a beta of 0.90. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $183.10.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 8.38% and a net margin of 1.58%.The company's revenue for the quarter was down 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.12 earnings per share. Analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MPC shares. Piper Sandler increased their price target on Marathon Petroleum from $175.00 to $182.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Raymond James Financial restated an "outperform" rating and issued a $200.00 price objective (up from $180.00) on shares of Marathon Petroleum in a research note on Tuesday, July 15th. Wall Street Zen upgraded Marathon Petroleum from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Morgan Stanley lifted their price target on Marathon Petroleum from $160.00 to $182.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Finally, Barclays lifted their price target on Marathon Petroleum from $159.00 to $189.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Eight investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Marathon Petroleum currently has a consensus rating of "Hold" and an average price target of $185.29.

About Marathon Petroleum

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.