Marathon Petroleum Corporation $MPC Shares Bought by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd increased its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 934,281 shares of the oil and gas company’s stock after purchasing an additional 10,351 shares during the quarter. Marathon Petroleum accounts for 0.8% of AustralianSuper Pty Ltd’s holdings, making the stock its 26th biggest position. AustralianSuper Pty Ltd owned about 0.30% of Marathon Petroleum worth $155,193,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Marathon Petroleum by 12.3% in 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 in the last quarter. Wellington Management Group LLP raised its holdings in shares of Marathon Petroleum by 18.7% in 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 in the last quarter. Raymond James Financial Inc. raised its holdings in shares of Marathon Petroleum by 6.3% in 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 in the last quarter. Boston Partners raised its holdings in shares of Marathon Petroleum by 58.5% in 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 in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Marathon Petroleum by 3.7% in the 1st quarter. Bank of New York Mellon Corp now owns 4,982,348 shares of the oil and gas company’s stock worth $725,878,000 after purchasing an additional 178,397 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Marathon Petroleum news, insider Molly R. Benson sold 10,879 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $163.00, for a total value of $1,773,277.00. Following the transaction, the insider owned 28,700 shares in the company, valued at approximately $4,678,100. This represents a 27.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on MPC shares. Raymond James Financial reiterated an “outperform” rating and issued a $203.00 target price (up from $199.00) on shares of Marathon Petroleum in a report on Friday, October 17th. Piper Sandler boosted their price target on shares of Marathon Petroleum from $184.00 to $222.00 and gave the company a “neutral” rating in a report on Thursday, September 11th. Barclays boosted their price target on shares of Marathon Petroleum from $176.00 to $194.00 and gave the company an “overweight” rating in a report on Monday, October 13th. BMO Capital Markets boosted their price target on shares of Marathon Petroleum from $195.00 to $208.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Finally, Morgan Stanley boosted their price target on shares of Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and a consensus target price of $200.31.

Marathon Petroleum Stock Up 0.1%

Marathon Petroleum stock opened at $196.17 on Monday. The firm has a market cap of $59.64 billion, a PE ratio of 29.10, a P/E/G ratio of 4.11 and a beta of 0.90. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. The firm’s 50 day moving average price is $183.52 and its two-hundred day moving average price is $167.50. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $201.61.

Marathon Petroleum (NYSE:MPC) last released 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. The firm had revenue of $34.10 billion for the quarter, compared to analyst estimates of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The company’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.12 EPS. On average, research analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were paid a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 1.9%. The ex-dividend date was Wednesday, August 20th. Marathon Petroleum’s dividend payout ratio is currently 54.01%.

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.