Bridgewater Advisors Inc. bought a new stake in Marathon Petroleum Corporation (NYSE:MPC – Free Report) during the 2nd quarter, Holdings Channel reports. The firm bought 1,677 shares of the oil and gas company’s stock, valued at approximately $406,000.
Several other institutional investors have also added to or reduced their stakes in the company. Navalign LLC bought a new position in Marathon Petroleum during the fourth quarter worth about $30,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Marathon Petroleum during the fourth quarter worth approximately $31,000. WFA of San Diego LLC acquired a new stake in shares of Marathon Petroleum in the second quarter valued at approximately $33,000. Berbice Capital Management LLC boosted its stake in shares of Marathon Petroleum by 100.0% in the fourth quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 100 shares during the period. Finally, Ares Financial Consulting LLC bought a new position in Marathon Petroleum during the 4th quarter worth $34,000. 76.77% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of analysts have recently weighed in on the company. Jefferies Financial Group set a $335.00 target price on Marathon Petroleum and gave the company a “buy” rating in a research report on Sunday, July 12th. Piper Sandler boosted their price target on Marathon Petroleum from $343.00 to $344.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Evercore set a $330.00 price objective on shares of Marathon Petroleum in a research report on Wednesday, August 5th. Scotiabank increased their price objective on shares of Marathon Petroleum from $174.00 to $210.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. Finally, Zacks Research lowered shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 17th. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $312.50.
Marathon Petroleum Price Performance
Shares of MPC opened at $355.61 on Friday. Marathon Petroleum Corporation has a 12-month low of $160.87 and a 12-month high of $360.10. The business has a 50-day simple moving average of $287.31 and a two-hundred day simple moving average of $247.66. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. The stock has a market cap of $103.82 billion, a PE ratio of 12.22, a PEG ratio of 0.23 and a beta of 0.52.
Marathon Petroleum (NYSE:MPC – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, beating analysts’ consensus estimates of $14.27 by $3.46. The firm had revenue of $51.99 billion for the quarter, compared to analyst estimates of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The business’s revenue for the quarter was up 53.5% on a year-over-year basis. During the same period last year, the firm posted $3.96 earnings per share. Analysts anticipate that Marathon Petroleum Corporation will post 46.66 earnings per share for the current fiscal year.
Marathon Petroleum Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a dividend of $1.00 per share. The ex-dividend date is Wednesday, August 19th. This represents a $4.00 annualized dividend and a yield of 1.1%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 13.75%.
Insiders Place Their Bets
In other news, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the transaction, the vice president owned 16,900 shares in the company, valued at approximately $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.17% of the stock is owned by insiders.
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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