Callan Family Office LLC Grows Stock Holdings in Marathon Petroleum Corporation $MPC

Callan Family Office LLC raised its position in shares of Marathon Petroleum Corporation (NYSE:MPC) by 156.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,466 shares of the oil and gas company’s stock after buying an additional 5,169 shares during the quarter. Callan Family Office LLC’s holdings in Marathon Petroleum were worth $1,406,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Marathon Petroleum by 12.3% during the first quarter. Vanguard Group Inc. now owns 34,941,391 shares of the oil and gas company’s stock valued at $5,090,611,000 after buying an additional 3,834,501 shares during the last quarter. Wellington Management Group LLP raised its position 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 valued at $1,722,664,000 after purchasing an additional 1,862,674 shares during the last quarter. Raymond James Financial Inc. raised its position 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 valued at $879,608,000 after purchasing an additional 355,215 shares during the last quarter. Boston Partners raised its position 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 valued at $791,274,000 after purchasing an additional 2,011,810 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position 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 valued at $725,878,000 after purchasing an additional 178,397 shares during the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MPC has been the subject of several research analyst reports. TD Cowen decreased their price objective on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Raymond James Financial increased their price objective on shares of Marathon Petroleum from $195.00 to $199.00 and gave the company an “outperform” rating in a research report on Tuesday, September 9th. Dbs Bank raised shares of Marathon Petroleum to a “moderate buy” rating in a research report on Monday, July 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Marathon Petroleum in a report on Wednesday, October 8th. Finally, Citigroup increased their price target on shares of Marathon Petroleum from $144.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Eight investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus target price of $198.92.

Insider Activity at Marathon Petroleum

In other news, insider Molly R. Benson sold 10,879 shares of the firm’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 transaction of $1,773,277.00. Following the sale, the insider owned 28,700 shares of the company’s stock, valued at $4,678,100. This trade represents a 27.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is owned by insiders.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $181.08 on Monday. The stock has a market capitalization of $55.05 billion, a price-to-earnings ratio of 26.87, a PEG ratio of 3.04 and a beta of 0.90. Marathon Petroleum Corporation has a 12 month low of $115.10 and a 12 month high of $201.61. The firm’s 50 day simple moving average is $178.73 and its 200-day simple moving average is $163.71. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.74. The business had revenue of $34.10 billion for the quarter, compared to analysts’ expectations of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The business’s revenue was down 11.1% on a year-over-year basis. During the same quarter last year, the company earned $4.12 EPS. Analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.0%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 54.01%.

Marathon Petroleum Company 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.