Marathon Petroleum Co. (NYSE:MPC) Shares Bought by Foundation Resource Management Inc.

Foundation Resource Management Inc. grew its stake in Marathon Petroleum Co. (NYSE:MPC) by 6.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 4,929 shares of the oil and gas company’s stock after acquiring an additional 300 shares during the period. Foundation Resource Management Inc.’s holdings in Marathon Petroleum were worth $575,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in MPC. Acadian Asset Management LLC boosted its position in shares of Marathon Petroleum by 19.4% during the first quarter. Acadian Asset Management LLC now owns 5,603 shares of the oil and gas company’s stock worth $479,000 after buying an additional 910 shares during the period. Cibc World Market Inc. acquired a new position in Marathon Petroleum in the 1st quarter valued at about $282,000. Vontobel Holding Ltd. lifted its position in shares of Marathon Petroleum by 1.6% during the first quarter. Vontobel Holding Ltd. now owns 18,559 shares of the oil and gas company’s stock worth $1,584,000 after purchasing an additional 293 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Marathon Petroleum by 25.1% in the first quarter. Sei Investments Co. now owns 90,916 shares of the oil and gas company’s stock valued at $7,800,000 after purchasing an additional 18,230 shares during the period. Finally, Moors & Cabot Inc. increased its stake in Marathon Petroleum by 11.0% during the 1st quarter. Moors & Cabot Inc. now owns 9,438 shares of the oil and gas company’s stock worth $807,000 after buying an additional 937 shares during the period. 74.93% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Stock Performance

Shares of NYSE MPC traded down $3.62 during trading hours on Tuesday, reaching $152.72. The stock had a trading volume of 1,216,567 shares, compared to its average volume of 3,772,728. The firm has a market cap of $61.06 billion, a price-to-earnings ratio of 5.67, a PEG ratio of 1.18 and a beta of 1.62. Marathon Petroleum Co. has a fifty-two week low of $89.40 and a fifty-two week high of $157.99. The firm has a 50-day moving average of $138.61 and a 200-day moving average of $126.07. The company has a current ratio of 1.84, a quick ratio of 1.30 and a debt-to-equity ratio of 0.86.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $5.32 earnings per share for the quarter, beating the consensus estimate of $4.55 by $0.77. Marathon Petroleum had a return on equity of 36.33% and a net margin of 8.01%. The business had revenue of $36.82 billion during the quarter, compared to the consensus estimate of $32.60 billion. During the same period in the prior year, the company earned $10.61 earnings per share. The company’s revenue was down 32.2% compared to the same quarter last year. Equities research analysts predict that Marathon Petroleum Co. will post 21.81 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th were issued a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, August 15th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.96%. Marathon Petroleum’s payout ratio is 10.89%.

Wall Street Analysts Forecast Growth

Several research firms have commented on MPC. StockNews.com began coverage on shares of Marathon Petroleum in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Barclays upped their price target on Marathon Petroleum from $132.00 to $152.00 and gave the stock an “overweight” rating in a report on Monday, August 7th. Mizuho lifted their price objective on Marathon Petroleum from $161.00 to $178.00 and gave the company a “neutral” rating in a research note on Monday. Wells Fargo & Company increased their price objective on shares of Marathon Petroleum from $142.00 to $157.00 and gave the company an “equal weight” rating in a research report on Friday, September 8th. Finally, Piper Sandler lifted their price objective on shares of Marathon Petroleum from $133.00 to $143.00 in a research report on Friday, August 4th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and an average price target of $155.00.

Insider Transactions at Marathon Petroleum

In related news, Director Kim K.W. Rucker sold 6,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $132.25, for a total value of $793,500.00. Following the transaction, the director now owns 29,760 shares in the company, valued at approximately $3,935,760. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Marathon Petroleum news, Director Kim K.W. Rucker sold 6,000 shares of Marathon Petroleum stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $132.25, for a total value of $793,500.00. Following the transaction, the director now directly owns 29,760 shares in the company, valued at approximately $3,935,760. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Timothy J. Aydt sold 4,913 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $145.26, for a total value of $713,662.38. Following the sale, the vice president now owns 18,995 shares of the company’s stock, valued at approximately $2,759,213.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,188 shares of company stock worth $3,890,973. Company insiders own 0.28% of the company’s stock.

Marathon Petroleum Profile

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. 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.