Bridgewater Advisors Inc. Buys Shares of 1,666 Marathon Petroleum Corporation $MPC

Bridgewater Advisors Inc. acquired a new stake in Marathon Petroleum Corporation (NYSE:MPC) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,666 shares of the oil and gas company’s stock, valued at approximately $407,000.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC increased its position in shares of Marathon Petroleum by 30.9% during the fourth quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock worth $696,000 after acquiring an additional 1,178 shares in the last quarter. Woodline Partners LP lifted its position in Marathon Petroleum by 38.3% in the 1st quarter. Woodline Partners LP now owns 26,697 shares of the oil and gas company’s stock valued at $3,889,000 after acquiring an additional 7,396 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in Marathon Petroleum by 26.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,221 shares of the oil and gas company’s stock valued at $369,000 after purchasing an additional 466 shares during the last quarter. Marshall Wace LLP acquired a new position in Marathon Petroleum during the 2nd quarter valued at about $8,505,000. Finally, AXA S.A. increased its holdings in Marathon Petroleum by 46.7% during the 2nd quarter. AXA S.A. now owns 39,675 shares of the oil and gas company’s stock worth $6,590,000 after purchasing an additional 12,639 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on MPC. Zacks Research lowered shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 17th. Jefferies Financial Group set a $335.00 price objective on shares of Marathon Petroleum and gave the stock a “buy” rating in a research report on Sunday, July 12th. UBS Group reissued a “buy” rating and issued a $321.00 price objective on shares of Marathon Petroleum in a research note on Friday, July 10th. Barclays upped their target price on Marathon Petroleum from $270.00 to $289.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Finally, Piper Sandler reissued an “overweight” rating and set a $343.00 price target on shares of Marathon Petroleum in a research note on Thursday. Eleven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus price target of $298.69.

Insider Buying and Selling at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $268.82, for a total value of $1,703,243.52. Following the completion of the sale, the vice president directly owned 16,900 shares of the company’s stock, valued at $4,543,058. This represents a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is owned by insiders.

Marathon Petroleum Stock Down 0.0%

Shares of NYSE MPC opened at $309.14 on Monday. Marathon Petroleum Corporation has a 52-week low of $158.00 and a 52-week high of $326.92. The firm has a market capitalization of $90.25 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 0.20 and a beta of 0.52. The stock has a 50 day moving average price of $268.66 and a 200 day moving average price of $233.03. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, topping the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The company had revenue of $34.20 billion for the quarter, compared to the consensus estimate of $33.42 billion. During the same period last year, the business posted ($0.24) EPS. Marathon Petroleum’s quarterly revenue was up 8.5% on a year-over-year basis. Sell-side analysts expect that Marathon Petroleum Corporation will post 43.19 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Wednesday, May 20th. Marathon Petroleum’s payout ratio is presently 26.11%.

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.