Summit Global Investments Acquires 1,592 Shares of Marathon Petroleum Co. (NYSE:MPC)

Summit Global Investments raised its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 115.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,969 shares of the oil and gas company’s stock after purchasing 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.

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

Marathon Petroleum Price Performance

MPC stock opened at $148.67 on Tuesday. Marathon Petroleum Co. has a 1 year low of $130.54 and a 1 year high of $221.11. The firm has a market capitalization of $46.32 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 3.11 and a beta of 1.39. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. The business has a 50 day simple moving average of $149.07 and a 200-day simple moving average of $151.89.

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

Marathon Petroleum Announces Dividend

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

Insider Buying and Selling at Marathon Petroleum

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wells Fargo & Company boosted their target price on Marathon Petroleum from $183.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday. Tudor Pickering upgraded Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Mizuho lowered their price target on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Raymond James upped their price objective on Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 17th. Finally, TD Cowen reaffirmed a “buy” rating and set a $170.00 target price on shares of Marathon Petroleum in a research note 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $180.21.

About Marathon Petroleum

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.