10,457 Shares in Marathon Petroleum Corporation $MPC Bought by Flputnam Investment Management Co.

Flputnam Investment Management Co. purchased a new stake in Marathon Petroleum Corporation (NYSE:MPC) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 10,457 shares of the oil and gas company’s stock, valued at approximately $2,673,000.

Other hedge funds also recently bought and sold shares of the company. Pictet Asset Management Holding SA lifted its stake in Marathon Petroleum by 31.0% in the 1st quarter. Pictet Asset Management Holding SA now owns 213,545 shares of the oil and gas company’s stock valued at $52,146,000 after buying an additional 50,521 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in Marathon Petroleum by 570.7% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 168,644 shares of the oil and gas company’s stock worth $41,180,000 after buying an additional 143,500 shares in the last quarter. North Dakota State Investment Board acquired a new position in shares of Marathon Petroleum during the fourth quarter valued at approximately $1,714,000. ABC Arbitrage SA acquired a new position in shares of Marathon Petroleum during the fourth quarter valued at approximately $4,977,000. Finally, Shepherd Street Advisors LLC purchased a new position in shares of Marathon Petroleum in the fourth quarter valued at approximately $878,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Up 0.1%

Shares of MPC opened at $355.61 on Monday. Marathon Petroleum Corporation has a 12-month low of $160.87 and a 12-month high of $360.10. The firm has a market capitalization of $103.82 billion, a P/E ratio of 12.22, a P/E/G ratio of 0.23 and a beta of 0.52. The firm has a 50-day moving average price of $287.31 and a 200 day moving average price of $248.19. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share for the quarter, beating the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The company had revenue of $51.99 billion for the quarter, compared to analyst estimates of $40.87 billion. During the same period in the previous year, the business posted $3.96 EPS. Marathon Petroleum’s revenue was up 53.5% on a year-over-year basis. Sell-side analysts forecast that Marathon Petroleum Corporation will post 46.66 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum’s dividend payout ratio is presently 13.75%.

Analyst Upgrades and Downgrades

MPC has been the topic of a number of research analyst reports. BMO Capital Markets reaffirmed an “outperform” rating on shares of Marathon Petroleum in a research note on Friday, June 12th. Evercore set a $330.00 price objective on Marathon Petroleum in a report on Wednesday, August 5th. Wall Street Zen raised shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. Zacks Research lowered shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 17th. Finally, TD Cowen increased their target price on shares of Marathon Petroleum from $357.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and an average price target of $312.50.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the sale, the vice president owned 16,900 shares in the company, valued at $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is currently owned by company insiders.

Marathon Petroleum Company Profile

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.