Bridgewater Advisors Inc. Makes New $261,000 Investment in Marathon Petroleum Corporation $MPC

Bridgewater Advisors Inc. bought a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,570 shares of the oil and gas company’s stock, valued at approximately $261,000.

Several other institutional investors have also bought and sold shares of the company. Baker Tilly Wealth Management LLC increased its position in Marathon Petroleum by 2.8% in the second quarter. Baker Tilly Wealth Management LLC now owns 2,226 shares of the oil and gas company’s stock worth $370,000 after buying an additional 60 shares during the last quarter. CHICAGO TRUST Co NA grew its stake in shares of Marathon Petroleum by 3.9% during the 2nd quarter. CHICAGO TRUST Co NA now owns 1,684 shares of the oil and gas company’s stock worth $280,000 after acquiring an additional 63 shares during the period. Werba Rubin Papier Wealth Management grew its stake in shares of Marathon Petroleum by 4.2% during the 2nd quarter. Werba Rubin Papier Wealth Management now owns 1,577 shares of the oil and gas company’s stock worth $262,000 after acquiring an additional 64 shares during the period. AdvisorShares Investments LLC raised its stake in Marathon Petroleum by 2.4% in the 2nd quarter. AdvisorShares Investments LLC now owns 2,828 shares of the oil and gas company’s stock valued at $470,000 after acquiring an additional 66 shares during the period. Finally, Sunpointe LLC lifted its holdings in Marathon Petroleum by 4.1% during the second quarter. Sunpointe LLC now owns 1,750 shares of the oil and gas company’s stock valued at $291,000 after purchasing an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Mizuho lifted their target price on shares of Marathon Petroleum from $184.00 to $188.00 and gave the stock a “neutral” rating in a research note on Monday, September 15th. Bank of America boosted their target price on shares of Marathon Petroleum from $184.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, September 3rd. Barclays lifted their price target on Marathon Petroleum from $176.00 to $194.00 and gave the company an “overweight” rating in a research report on Monday, October 13th. TD Cowen dropped their price objective on Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Finally, Morgan Stanley lifted their target price on Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.08.

Marathon Petroleum Price Performance

NYSE:MPC opened at $183.99 on Wednesday. The firm has a market capitalization of $55.94 billion, a price-to-earnings ratio of 27.30, a P/E/G ratio of 4.10 and a beta of 0.90. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. The stock has a fifty day moving average of $187.14 and a 200 day moving average of $171.16. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $201.61.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.01. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The firm had revenue of $35.85 billion for the quarter, compared to analysts’ expectations of $31.06 billion. On average, research analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 19th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $4.00 dividend on an annualized basis and a yield of 2.2%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.91. Marathon Petroleum’s dividend payout ratio is presently 54.01%.

Insider Activity at Marathon Petroleum

In other news, insider Molly R. Benson sold 10,879 shares of the firm’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the sale, the insider owned 28,700 shares in the company, valued at approximately $4,678,100. This trade represents a 27.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.25% of the stock is owned by insiders.

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.