North Dakota State Investment Board Buys New Shares in Marathon Petroleum Corporation $MPC

North Dakota State Investment Board purchased a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 10,542 shares of the oil and gas company’s stock, valued at approximately $1,714,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Navalign LLC acquired a new stake in Marathon Petroleum during the 4th quarter worth about $30,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Marathon Petroleum during the 4th quarter worth about $31,000. WFA of San Diego LLC acquired a new stake in Marathon Petroleum during the 2nd quarter worth about $33,000. Ares Financial Consulting LLC acquired a new stake in Marathon Petroleum during the 4th quarter worth about $34,000. Finally, Strategic Wealth Advisors LLC acquired a new stake in Marathon Petroleum during the 4th quarter worth about $36,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MPC. Weiss Ratings downgraded Marathon Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Zacks Research raised Marathon Petroleum from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 7th. UBS Group set a $285.00 price target on Marathon Petroleum in a research report on Wednesday, May 6th. Barclays raised their target price on Marathon Petroleum from $230.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, Wells Fargo & Company raised their target price on Marathon Petroleum to $335.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $259.44.

Insiders Place Their Bets

In related news, insider Ricky D. Hessling sold 1,810 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $224.78, for a total value of $406,851.80. Following the transaction, the insider directly owned 10,188 shares of the company’s stock, valued at approximately $2,290,058.64. This trade represents a 15.09% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 4,473 shares of company stock valued at $1,015,428. Company insiders own 0.17% of the company’s stock.

Trending Headlines about Marathon Petroleum

Here are the key news stories impacting Marathon Petroleum this week:

• Positive Sentiment: Marathon Petroleum’s Q1 results beat expectations, and the company boosted its stock buyback program, reinforcing the view that management is returning more cash to shareholders. Marathon Petroleum (MPC) Exceeds Estimates in Q1, Boosts Stock Buyback Program
• Positive Sentiment: Several articles highlighted MPC as a top momentum stock and a name showing relative price strength, which can attract momentum investors and support the stock’s recent rise. Why Marathon Petroleum (MPC) is a Top Momentum Stock for the Long-Term
• Positive Sentiment: Recent valuation coverage focused on MPC’s strong multi-period share gains, with the stock up sharply over the past month, quarter, and year-to-date, reinforcing bullish sentiment around the name. A Look At Marathon Petroleum (MPC) Valuation After Strong Multi Period Share Price Gains
• Neutral Sentiment: Marathon Petroleum also appeared in a news item about Aquanta Vision’s pre-seed funding for methane leak detection, where MPC was listed as a participant through its venture/technology arm. This is strategically interesting but not likely a near-term stock driver. Aquanta Vision Secures Pre-Seed Funding to Advance Real-Time Methane Leak Detection

Marathon Petroleum Price Performance

NYSE:MPC opened at $262.86 on Wednesday. Marathon Petroleum Corporation has a 52 week low of $154.65 and a 52 week high of $263.50. The company has a quick ratio of 0.73, a current ratio of 1.18 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $76.74 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 0.34 and a beta of 0.53. The stock’s 50-day moving average price is $236.25 and its 200-day moving average price is $204.45.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.91. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The firm had revenue of $34.20 billion for the quarter, compared to analysts’ expectations of $33.42 billion. During the same period last year, the firm earned ($0.24) EPS. The company’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, equities analysts expect that Marathon Petroleum Corporation will post 29.67 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $4.00 dividend on an annualized basis and a yield of 1.5%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 26.11%.

Marathon Petroleum 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.