Arrowstreet Capital Limited Partnership Purchases 376,721 Shares of Marathon Petroleum Corporation $MPC

Arrowstreet Capital Limited Partnership raised its position in Marathon Petroleum Corporation (NYSE:MPC) by 1,116.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 410,459 shares of the oil and gas company’s stock after purchasing an additional 376,721 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Marathon Petroleum were worth $100,226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Navalign LLC bought a new stake in Marathon Petroleum in the 4th quarter valued at about $30,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Marathon Petroleum in the fourth quarter valued at approximately $31,000. Berbice Capital Management LLC boosted its stake in shares of Marathon Petroleum by 100.0% in the fourth quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 100 shares during the period. WFA of San Diego LLC acquired a new stake in Marathon Petroleum during the second quarter worth approximately $33,000. Finally, Ares Financial Consulting LLC bought a new position in Marathon Petroleum during the 4th quarter worth $34,000. Institutional investors own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MPC. Raymond James Financial raised their price target on Marathon Petroleum from $300.00 to $335.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. The Goldman Sachs Group increased their price objective on shares of Marathon Petroleum from $291.00 to $376.00 and gave the stock a “buy” rating in a research note on Wednesday. TD Cowen raised their target price on shares of Marathon Petroleum from $315.00 to $357.00 and gave the company a “buy” rating in a report on Tuesday. Mizuho boosted their target price on shares of Marathon Petroleum from $224.00 to $284.00 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Finally, Scotiabank upped their price target on shares of Marathon Petroleum from $174.00 to $210.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 22nd. Eleven 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.com, the company has an average rating of “Moderate Buy” and a consensus price target of $298.69.

Marathon Petroleum Stock Performance

NYSE MPC opened at $309.14 on Friday. The firm’s fifty day moving average price is $268.66 and its two-hundred day moving average price is $232.62. The stock has a market cap of $90.25 billion, a PE ratio of 20.18, a PEG ratio of 0.21 and a beta of 0.52. 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 Corporation has a fifty-two week low of $158.00 and a fifty-two week high of $326.92.

Marathon Petroleum (NYSE:MPC) last announced its quarterly 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 company had revenue of $34.20 billion during the quarter, compared to analysts’ expectations of $33.42 billion. During the same period in the prior year, the company earned ($0.24) EPS. Marathon Petroleum’s revenue was up 8.5% compared to the same quarter last year. On average, equities analysts expect that Marathon Petroleum Corporation will post 43.19 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

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

Insider Transactions at Marathon Petroleum

In other news, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction on 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 transaction, the vice president owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. This trade 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 accessible through the SEC website. Company insiders own 0.17% of the company’s stock.

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.