AustralianSuper Pty Ltd Increases Stock Position in Marathon Petroleum Co. (NYSE:MPC)

AustralianSuper Pty Ltd increased its position in Marathon Petroleum Co. (NYSE:MPC) by 1.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 918,361 shares of the oil and gas company’s stock after purchasing an additional 16,825 shares during the quarter. AustralianSuper Pty Ltd owned 0.29% of Marathon Petroleum worth $128,111,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. boosted its stake in shares of Marathon Petroleum by 1,204.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company’s stock valued at $75,757,000 after purchasing an additional 501,441 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in Marathon Petroleum by 27.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 43,174 shares of the oil and gas company’s stock valued at $7,033,000 after acquiring an additional 9,355 shares in the last quarter. Wilmington Savings Fund Society FSB raised its holdings in Marathon Petroleum by 747.3% in the third quarter. Wilmington Savings Fund Society FSB now owns 21,275 shares of the oil and gas company’s stock valued at $3,466,000 after acquiring an additional 18,764 shares in the last quarter. Holistic Planning LLC acquired a new stake in shares of Marathon Petroleum during the third quarter worth $912,000. Finally, World Investment Advisors LLC raised its holdings in shares of Marathon Petroleum by 4,227.5% during the third quarter. World Investment Advisors LLC now owns 69,759 shares of the oil and gas company’s stock worth $11,364,000 after purchasing an additional 68,147 shares during the period. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Marathon Petroleum news, Director Jeffrey C. Campbell acquired 6,000 shares of Marathon Petroleum stock in a transaction dated Wednesday, December 4th. The stock was bought at an average price of $149.61 per share, for a total transaction of $897,660.00. Following the transaction, the director now owns 6,090 shares in the company, valued at approximately $911,124.90. This trade represents a 6,666.67 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.21% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of MPC opened at $156.11 on Friday. The firm has a 50-day moving average price of $145.89 and a 200 day moving average price of $157.19. The firm has a market capitalization of $50.17 billion, a PE ratio of 15.72, a P/E/G ratio of 2.91 and a beta of 1.41. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a 52-week low of $130.54 and a 52-week high of $221.11.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.71. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The firm had revenue of $33.47 billion during the quarter, compared to analyst estimates of $31.94 billion. During the same quarter in the prior year, the firm posted $3.98 EPS. Marathon Petroleum’s revenue was down 9.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Marathon Petroleum Co. will post 8.7 earnings per share for the current fiscal year.

Marathon Petroleum declared that its board has authorized a stock buyback plan on Tuesday, November 5th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the oil and gas company to buy up to 10% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.64 annualized dividend and a dividend yield of 2.33%. Marathon Petroleum’s dividend payout ratio (DPR) is 36.66%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Barclays dropped their target price on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. TD Cowen reissued a “buy” rating and set a $170.00 target price on shares of Marathon Petroleum in a report on Tuesday, December 10th. Mizuho dropped their target price on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Wells Fargo & Company increased their target price on shares of Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Finally, Tudor Pickering upgraded shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and an average target price of $181.27.

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.