Swiss Life Asset Management Ltd Boosts Stake in Marathon Petroleum Corporation $MPC

Key Points

• Swiss Life Asset Management increased its Marathon Petroleum stake by 13.8% in the fourth quarter, and several other hedge funds also raised their holdings. Institutional investors now own 76.77% of the stock.
• Marathon Petroleum reported a strong quarterly earnings beat, posting $1.65 EPS versus the $0.74 consensus estimate, while revenue came in at $34.20 billion, up 8.5% year over year.
• The company declared a $1.00 quarterly dividend payable June 10, and analysts currently rate the stock a Moderate Buy with a consensus price target of $257.25.

Swiss Life Asset Management Ltd lifted its position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 13.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,710 shares of the oil and gas company's stock after acquiring an additional 6,035 shares during the quarter. Swiss Life Asset Management Ltd's holdings in Marathon Petroleum were worth $8,084,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Fifth Third Wealth Advisors LLC boosted its stake in shares of Marathon Petroleum by 0.6% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 10,287 shares of the oil and gas company's stock worth $1,673,000 after acquiring an additional 57 shares in the last quarter. Legacy Bridge LLC boosted its stake in shares of Marathon Petroleum by 12.5% during the 4th quarter. Legacy Bridge LLC now owns 523 shares of the oil and gas company's stock worth $85,000 after acquiring an additional 58 shares in the last quarter. Koshinski Asset Management Inc. boosted its stake in shares of Marathon Petroleum by 0.7% during the 4th quarter. Koshinski Asset Management Inc. now owns 8,116 shares of the oil and gas company's stock worth $1,320,000 after acquiring an additional 59 shares in the last quarter. CI Investments Inc. boosted its stake in shares of Marathon Petroleum by 1.8% during the 3rd quarter. CI Investments Inc. now owns 3,336 shares of the oil and gas company's stock worth $643,000 after acquiring an additional 60 shares in the last quarter. Finally, CVA Family Office LLC boosted its stake in shares of Marathon Petroleum by 1.3% during the 4th quarter. CVA Family Office LLC now owns 4,569 shares of the oil and gas company's stock worth $743,000 after acquiring an additional 60 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Performance

Marathon Petroleum stock opened at $252.08 on Wednesday. The firm has a 50 day simple moving average of $232.37 and a 200-day simple moving average of $202.34. Marathon Petroleum Corporation has a 1-year low of $154.65 and a 1-year high of $261.61. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.18 and a quick ratio of 0.73. The stock has a market cap of $73.59 billion, a price-to-earnings ratio of 16.45, a price-to-earnings-growth ratio of 0.34 and a beta of 0.53.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The business had revenue of $34.20 billion during the quarter, compared to analysts' expectations of $33.42 billion. During the same quarter in the prior year, the company posted ($0.24) EPS. The business's revenue for the quarter was up 8.5% on a year-over-year basis. On average, analysts expect that Marathon Petroleum Corporation will post 28.83 EPS for the current year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $4.00 annualized dividend and a dividend yield of 1.6%. Marathon Petroleum's dividend payout ratio is 26.11%.

Wall Street Analyst Weigh In

MPC has been the subject of several research analyst reports. Raymond James Financial restated an "outperform" rating on shares of Marathon Petroleum in a research report on Wednesday, May 6th. Wells Fargo & Company upped their price target on shares of Marathon Petroleum to $335.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Morgan Stanley upped their price target on shares of Marathon Petroleum from $200.00 to $233.00 and gave the stock an "overweight" rating in a research report on Friday, April 24th. UBS Group set a $285.00 price target on shares of Marathon Petroleum in a research report on Wednesday, May 6th. Finally, Jefferies Financial Group upped their price target on shares of Marathon Petroleum from $263.00 to $279.00 and gave the stock a "buy" rating in a research report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Marathon Petroleum presently has a consensus rating of "Moderate Buy" and a consensus price target of $257.25.

Insider Buying and Selling at Marathon Petroleum

In related news, insider Ricky D. Hessling sold 1,810 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $224.78, for a total transaction of $406,851.80. Following the completion of the transaction, the insider owned 10,188 shares of the company's stock, valued at approximately $2,290,058.64. This trade represents a 15.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 4,473 shares of company stock worth $1,015,428. Company insiders own 0.17% of the company's stock.

About Marathon Petroleum

Marathon Petroleum Corporation NYSE: MPC is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum's operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.

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