Allstate Corp Purchases Shares of 10,061 Marathon Petroleum Co. (NYSE:MPC)

Allstate Corp acquired a new position in shares of Marathon Petroleum Co. (NYSE:MPC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 10,061 shares of the oil and gas company’s stock, valued at approximately $1,404,000.

Several other institutional investors have also added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC bought a new stake in Marathon Petroleum in the 4th quarter valued at about $27,000. True Wealth Design LLC boosted its stake in Marathon Petroleum by 672.7% in the third quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 148 shares in the last quarter. Asset Planning Inc acquired a new stake in shares of Marathon Petroleum in the 4th quarter valued at approximately $28,000. Sierra Ocean LLC acquired a new stake in Marathon Petroleum in the fourth quarter valued at approximately $31,000. Finally, Cape Investment Advisory Inc. grew its position in Marathon Petroleum by 762.9% during the 4th quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 267 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Price Performance

NYSE MPC opened at $144.05 on Monday. The firm’s 50-day simple moving average is $148.74 and its two-hundred day simple moving average is $151.46. The company has a market cap of $44.88 billion, a PE ratio of 14.51, a price-to-earnings-growth ratio of 3.11 and a beta of 1.39. Marathon Petroleum Co. has a 52 week low of $130.54 and a 52 week high of $221.11. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71. The business 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 quarter in the prior year, the firm posted $3.98 EPS. Research analysts predict that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed 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. This represents a $3.64 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend was Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio is 36.66%.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, insider Ricky D. Hessling bought 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Evan Bayh acquired 1,000 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was bought at an average price of $133.70 per share, for a total transaction of $133,700.00. Following the acquisition, the director now owns 69,305 shares of the company’s stock, valued at approximately $9,266,078.50. This trade represents a 1.46 % increase in their position. The disclosure for this purchase can be found here. 0.21% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Piper Sandler reduced their target price on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Tudor Pickering raised Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 4th. TD Cowen reaffirmed a “buy” rating and issued a $170.00 price target on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Mizuho lowered their target price on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Finally, Raymond James reaffirmed a “strong-buy” rating on shares of Marathon Petroleum in a research report on Thursday. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Marathon Petroleum presently has a consensus 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.