Allstate Corp Makes New Investment in Marathon Petroleum Corporation $MPC

Allstate Corp purchased a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,721 shares of the oil and gas company’s stock, valued at approximately $2,066,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MPC. Associated Banc Corp increased its holdings in shares of Marathon Petroleum by 2.1% during the third quarter. Associated Banc Corp now owns 2,475 shares of the oil and gas company’s stock valued at $477,000 after purchasing an additional 52 shares during the period. CoreCap Advisors LLC increased its holdings in shares of Marathon Petroleum by 2.6% in the 3rd quarter. CoreCap Advisors LLC now owns 2,363 shares of the oil and gas company’s stock valued at $456,000 after purchasing an additional 59 shares during the period. CHICAGO TRUST Co NA grew its holdings in shares of Marathon Petroleum by 3.9% during the 2nd quarter. CHICAGO TRUST Co NA now owns 1,684 shares of the oil and gas company’s stock valued at $280,000 after acquiring an additional 63 shares in the last quarter. FSM Wealth Advisors LLC grew its stake in shares of Marathon Petroleum by 1.6% in the 3rd quarter. FSM Wealth Advisors LLC now owns 3,944 shares of the oil and gas company’s stock valued at $760,000 after buying an additional 63 shares in the last quarter. Finally, Warwick Investment Management Inc. lifted its stake in shares of Marathon Petroleum by 4.6% in the 3rd quarter. Warwick Investment Management Inc. now owns 1,436 shares of the oil and gas company’s stock valued at $277,000 after purchasing an additional 63 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Price Performance

NYSE:MPC opened at $174.76 on Wednesday. The firm has a market capitalization of $52.53 billion, a price-to-earnings ratio of 18.63, a P/E/G ratio of 0.72 and a beta of 0.74. The stock’s 50 day moving average price is $180.90 and its two-hundred day moving average price is $180.77. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $202.29. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 EPS for the quarter, topping the consensus estimate of $3.00 by $0.01. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. The business had revenue of $34.81 billion during the quarter, compared to the consensus estimate of $31.06 billion. On average, analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 19th were issued a dividend of $1.00 per share. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.91. This represents a $4.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Wednesday, November 19th. Marathon Petroleum’s payout ratio is 42.64%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MPC shares. JPMorgan Chase & Co. decreased their price objective on shares of Marathon Petroleum from $211.00 to $179.00 and set a “neutral” rating for the company in a report on Tuesday, January 13th. Weiss Ratings restated a “hold (c)” rating on shares of Marathon Petroleum in a research report on Wednesday, October 8th. Scotiabank restated an “outperform” rating and issued a $174.00 price objective on shares of Marathon Petroleum in a research report on Friday. Mizuho increased their price objective on shares of Marathon Petroleum from $198.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, January 13th. Finally, Citigroup cut their target price on shares of Marathon Petroleum from $185.00 to $182.00 and set a “neutral” rating on the stock in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus target price of $195.71.

About Marathon Petroleum

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.