6,668 Shares in Marathon Petroleum Corporation $MPC Acquired by Machina Capital S.A.S.

Machina Capital S.A.S. bought a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC) in the 3rd quarter, HoldingsChannel reports. The firm bought 6,668 shares of the oil and gas company’s stock, valued at approximately $2,637,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Marathon Petroleum in the second quarter worth approximately $6,648,958,000. Bank of New York Mellon Corp bought a new position in shares of Marathon Petroleum in the second quarter valued at $1,029,611,000. Bank of America Corp DE increased its holdings in shares of Marathon Petroleum by 1.6% in the first quarter. Bank of America Corp DE now owns 2,595,084 shares of the oil and gas company’s stock valued at $633,668,000 after buying an additional 40,124 shares in the last quarter. Amundi lifted its position in shares of Marathon Petroleum by 17.5% during the 2nd quarter. Amundi now owns 2,237,930 shares of the oil and gas company’s stock valued at $572,172,000 after acquiring an additional 332,551 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Marathon Petroleum by 16.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,508,489 shares of the oil and gas company’s stock valued at $385,675,000 after acquiring an additional 215,686 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Molly Benson sold 17,196 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $358.57, for a total value of $6,165,969.72. Following the completion of the sale, the insider owned 30,334 shares of the company’s stock, valued at $10,876,862.38. This trade represents a 36.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Shawn Lyon sold 1,000 shares of Marathon Petroleum stock in a transaction on Monday, August 31st. The shares were sold at an average price of $375.75, for a total value of $375,750.00. Following the transaction, the senior vice president owned 11,194 shares in the company, valued at $4,206,145.50. This represents a 8.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 19,191 shares of company stock worth $6,905,127 over the last quarter. Corporate insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Raymond James Financial raised their price objective on Marathon Petroleum from $350.00 to $445.00 and gave the stock an “outperform” rating in a research note on Monday, September 14th. Piper Sandler boosted their target price on Marathon Petroleum from $462.00 to $466.00 and gave the stock an “overweight” rating in a research report on Thursday, November 5th. The Goldman Sachs Group boosted their target price on Marathon Petroleum from $376.00 to $472.00 and gave the stock a “buy” rating in a research report on Monday, September 21st. UBS Group set a $510.00 target price on Marathon Petroleum in a report on Friday, October 9th. Finally, Wells Fargo & Company increased their price target on Marathon Petroleum from $560.00 to $564.00 and gave the company an “overweight” rating in a research report on Wednesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Marathon Petroleum currently has an average rating of “Moderate Buy” and a consensus price target of $425.12.

Marathon Petroleum Stock Up 3.4%

Shares of NYSE:MPC opened at $402.73 on Thursday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.09 and a current ratio of 1.45. The company has a market cap of $109.65 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 0.10 and a beta of 0.53. Marathon Petroleum Corporation has a 52 week low of $161.93 and a 52 week high of $493.98. The firm has a 50 day simple moving average of $422.83 and a 200 day simple moving average of $298.62.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, November 3rd. The oil and gas company reported $26.93 EPS for the quarter, topping analysts’ consensus estimates of $25.37 by $1.56. Marathon Petroleum had a net margin of 8.27% and a return on equity of 55.82%. The firm had revenue of $56.03 billion during the quarter, compared to analyst estimates of $46.60 billion. During the same quarter last year, the business posted $3.01 EPS. The company’s revenue was up 57.6% on a year-over-year basis. As a group, research analysts expect that Marathon Petroleum Corporation will post 66.31 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 18th will be issued a $1.00 dividend. The ex-dividend date is Wednesday, November 18th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.0%. Marathon Petroleum’s dividend payout ratio is presently 13.75%.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation is an integrated downstream energy company focused on refining, marketing, and transporting petroleum products. Its refineries produce fuels and other products, including gasoline, diesel, jet fuel, asphalt, and petrochemical feedstocks. The company sells transportation fuels and related products through a network of branded locations and other wholesale and commercial channels, primarily in the United States. Its midstream operations, conducted largely through its affiliated partnership MPLX, include gathering, processing, and transporting natural gas and natural gas liquids, as well as storing and transporting crude oil and refined products.