Bridgewater Advisors Inc. Takes $407,000 Position in Marathon Petroleum Corporation $MPC

Bridgewater Advisors Inc. purchased a new position in Marathon Petroleum Corporation (NYSE:MPC) in the 1st quarter, HoldingsChannel reports. The institutional investor purchased 1,666 shares of the oil and gas company’s stock, valued at approximately $407,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Gamco Investors INC. ET AL boosted its position in Marathon Petroleum by 13.7% during the first quarter. Gamco Investors INC. ET AL now owns 6,974 shares of the oil and gas company’s stock valued at $1,703,000 after purchasing an additional 838 shares in the last quarter. Klingman & Associates LLC bought a new position in Marathon Petroleum in the first quarter worth about $238,000. Modern Wealth Management LLC lifted its position in shares of Marathon Petroleum by 2.8% during the first quarter. Modern Wealth Management LLC now owns 2,725 shares of the oil and gas company’s stock valued at $649,000 after buying an additional 75 shares during the last quarter. Volterra Technologies LP bought a new stake in shares of Marathon Petroleum in the 1st quarter valued at about $674,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Marathon Petroleum by 1,116.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 410,459 shares of the oil and gas company’s stock valued at $100,226,000 after buying an additional 376,721 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Scotiabank boosted their price objective on shares of Marathon Petroleum from $174.00 to $210.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. Barclays upped their price objective on Marathon Petroleum from $270.00 to $289.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. The Goldman Sachs Group lifted their target price on shares of Marathon Petroleum from $291.00 to $376.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Wells Fargo & Company reissued an “overweight” rating and set a $344.00 price target on shares of Marathon Petroleum in a report on Monday, June 15th. Finally, Wall Street Zen raised shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 10th. Eleven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $298.69.

Insider Activity at Marathon Petroleum

In other news, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the sale, the vice president owned 16,900 shares of the company’s stock, 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 at this link. 0.17% of the stock is owned by corporate insiders.

Marathon Petroleum Trading Down 0.0%

Shares of NYSE:MPC opened at $309.14 on Monday. Marathon Petroleum Corporation has a 1 year low of $158.00 and a 1 year high of $326.92. The firm has a market capitalization of $90.25 billion, a price-to-earnings ratio of 20.18, a price-to-earnings-growth ratio of 0.20 and a beta of 0.52. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.18 and a quick ratio of 0.73. The business’s 50 day moving average price is $268.66 and its 200-day moving average price is $233.03.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results 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. The company had revenue of $34.20 billion during the quarter, compared to analyst estimates of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.24) EPS. On average, equities research analysts forecast that Marathon Petroleum Corporation will post 43.19 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were given a $1.00 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $4.00 annualized dividend and a dividend yield of 1.3%. Marathon Petroleum’s dividend payout ratio (DPR) is 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.