Summit Global Investments Grows Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Summit Global Investments grew its stake in Marathon Petroleum Co. (NYSE:MPC) by 115.6% during the 4th quarter, Holdings Channel reports. The fund owned 2,969 shares of the oil and gas company’s stock after acquiring an additional 1,592 shares during the period. Summit Global Investments’ holdings in Marathon Petroleum were worth $414,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. OLD Second National Bank of Aurora lifted its stake in shares of Marathon Petroleum by 7.2% in the 4th quarter. OLD Second National Bank of Aurora now owns 994 shares of the oil and gas company’s stock valued at $139,000 after purchasing an additional 67 shares in the last quarter. Nixon Peabody Trust Co. grew its holdings in Marathon Petroleum by 3.4% during the 4th quarter. Nixon Peabody Trust Co. now owns 2,068 shares of the oil and gas company’s stock valued at $288,000 after purchasing an additional 68 shares in the last quarter. Lake Street Advisors Group LLC increased its position in shares of Marathon Petroleum by 1.6% during the fourth quarter. Lake Street Advisors Group LLC now owns 4,271 shares of the oil and gas company’s stock worth $596,000 after acquiring an additional 69 shares during the last quarter. American Trust raised its holdings in Marathon Petroleum by 5.3% in the third quarter. American Trust now owns 1,397 shares of the oil and gas company’s stock valued at $228,000 after acquiring an additional 70 shares in the last quarter. Finally, DT Investment Partners LLC raised its stake in Marathon Petroleum by 21.5% during the fourth quarter. DT Investment Partners LLC now owns 395 shares of the oil and gas company’s stock valued at $55,000 after buying an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Insider Buying and Selling

In related news, insider Ricky D. Hessling acquired 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average price of $134.72 per share, for a total transaction of $269,440.00. Following the completion of the acquisition, the insider now owns 12,162 shares of the company’s stock, valued at $1,638,464.64. This trade represents a 19.68 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Evan Bayh bought 1,000 shares of Marathon Petroleum stock in a transaction on Wednesday, March 5th. The shares were bought at an average price of $133.70 per share, for a total transaction of $133,700.00. Following the acquisition, the director now owns 69,305 shares of the company’s stock, valued at approximately $9,266,078.50. The trade was a 1.46 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MPC. Tudor Pickering raised Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. Raymond James raised their target price on Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a research note on Friday, January 17th. Wells Fargo & Company lifted their price target on shares of Marathon Petroleum from $183.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday. Mizuho cut their price objective on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Finally, TD Cowen restated a “buy” rating and issued a $170.00 target price on shares of Marathon Petroleum in a report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average target price of $180.21.

Marathon Petroleum Stock Down 0.9 %

Shares of NYSE MPC opened at $148.67 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The company has a market cap of $46.32 billion, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 3.11 and a beta of 1.39. Marathon Petroleum Co. has a 12-month low of $130.54 and a 12-month high of $221.11. The firm’s 50-day simple moving average is $149.07 and its 200 day simple moving average is $151.89.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.06 by $0.71. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The business had revenue of $33.47 billion for the quarter, compared to analysts’ expectations of $31.94 billion. During the same period in the prior year, the firm earned $3.98 earnings per share. Marathon Petroleum’s revenue was down 9.1% compared to the same quarter last year. On average, research analysts expect that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th were paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend was Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 36.66%.

Marathon Petroleum 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.