Vanguard Personalized Indexing Management LLC Buys 14,972 Shares of Marathon Petroleum Corporation $MPC

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in Marathon Petroleum Corporation by 29.5%, acquiring an additional 14,972 shares during the second quarter.
• Marathon Petroleum recently reported a quarterly earnings per share of $3.96, surpassing estimates and generating $34.10 billion in revenue, although revenue fell 11.1% year-over-year.
• The company's board declared a quarterly dividend of $0.91 per share, reflecting an annualized dividend yield of 2.0%.

Vanguard Personalized Indexing Management LLC raised its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 29.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 65,672 shares of the oil and gas company's stock after buying an additional 14,972 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in Marathon Petroleum were worth $10,913,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Baker Tilly Wealth Management LLC raised its stake in Marathon Petroleum by 2.8% during the 2nd quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company's stock worth $370,000 after buying an additional 60 shares during the period. CHICAGO TRUST Co NA raised its stake in Marathon Petroleum by 3.9% during the 2nd quarter. CHICAGO TRUST Co NA now owns 1,684 shares of the oil and gas company's stock worth $280,000 after buying an additional 63 shares during the period. Sunpointe LLC raised its stake in Marathon Petroleum by 4.1% during the 2nd quarter. Sunpointe LLC now owns 1,750 shares of the oil and gas company's stock worth $291,000 after buying an additional 69 shares during the period. Beverly Hills Private Wealth LLC raised its stake in Marathon Petroleum by 1.3% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 6,739 shares of the oil and gas company's stock worth $982,000 after buying an additional 84 shares during the period. Finally, Valmark Advisers Inc. raised its stake in Marathon Petroleum by 2.3% during the 1st quarter. Valmark Advisers Inc. now owns 3,801 shares of the oil and gas company's stock worth $554,000 after buying an additional 86 shares during the period. Institutional investors own 76.77% of the company's stock.

Insiders Place Their Bets

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the 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 completion of the transaction, the insider directly owned 28,700 shares of the company's stock, valued at approximately $4,678,100. This represents 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 accessible through this link. Company insiders own 0.25% of the company's stock.

Analyst Ratings Changes

MPC has been the topic of a number of research reports. Scotiabank reaffirmed an "outperform" rating on shares of Marathon Petroleum in a research note on Thursday. Citigroup increased their price objective on Marathon Petroleum from $144.00 to $182.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Evercore ISI increased their price objective on Marathon Petroleum from $170.00 to $210.00 and gave the stock an "in-line" rating in a research note on Friday, September 19th. Weiss Ratings reissued a "hold (c)" rating on shares of Marathon Petroleum in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company increased their price objective on Marathon Petroleum from $182.00 to $205.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Eight equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $198.92.

Marathon Petroleum Stock Performance

MPC stock opened at $181.08 on Monday. The firm has a market cap of $55.05 billion, a PE ratio of 26.87, a P/E/G ratio of 3.04 and a beta of 0.90. 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 business has a 50 day moving average of $178.73 and a 200-day moving average of $163.71. 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 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. 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 during the quarter, compared to analyst estimates of $31.70 billion. During the same period in the prior year, the company earned $4.12 earnings per share. Marathon Petroleum's 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Wednesday, August 20th. Marathon Petroleum's dividend payout ratio is 54.01%.

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.

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