Acorn Advisory Capital L.P. Purchases Shares of 3,600 Marathon Petroleum Corp (MPC)

Acorn Advisory Capital L.P. acquired a new position in Marathon Petroleum Corp (NYSE:MPC) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 3,600 shares of the oil and gas company’s stock, valued at approximately $288,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of MPC. NEXT Financial Group Inc acquired a new position in shares of Marathon Petroleum in the 3rd quarter worth $124,000. Legacy Financial Advisors Inc. purchased a new position in shares of Marathon Petroleum during the second quarter valued at $113,000. Columbia Asset Management purchased a new position in shares of Marathon Petroleum during the third quarter valued at $156,000. Destination Wealth Management purchased a new position in shares of Marathon Petroleum during the second quarter valued at $144,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of Marathon Petroleum during the second quarter valued at $147,000. 83.16% of the stock is currently owned by institutional investors.

In related news, Director Steven A. Davis purchased 2,500 shares of Marathon Petroleum stock in a transaction on Monday, November 19th. The stock was bought at an average price of $62.20 per share, with a total value of $155,500.00. Following the completion of the transaction, the director now directly owns 16,462 shares of the company’s stock, valued at $1,023,936.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 1.09% of the stock is owned by insiders.

A number of research analysts have recently weighed in on MPC shares. Zacks Investment Research upgraded Marathon Petroleum from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a report on Friday, August 17th. Wells Fargo & Co reiterated a “buy” rating on shares of Marathon Petroleum in a report on Monday, August 27th. Citigroup lifted their price target on Marathon Petroleum from $95.00 to $100.00 and gave the company a “buy” rating in a report on Friday, September 7th. Goldman Sachs Group started coverage on Marathon Petroleum in a report on Tuesday, October 2nd. They set a “conviction-buy” rating on the stock. Finally, Barclays started coverage on Marathon Petroleum in a report on Wednesday, October 3rd. They set an “overweight” rating and a $125.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Marathon Petroleum has an average rating of “Buy” and an average price target of $94.60.

NYSE MPC traded down $1.32 on Wednesday, reaching $63.34. The stock had a trading volume of 7,676,191 shares, compared to its average volume of 5,805,364. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.65 and a quick ratio of 1.09. Marathon Petroleum Corp has a 1 year low of $60.64 and a 1 year high of $88.45. The company has a market capitalization of $45.02 billion, a P/E ratio of 16.67, a price-to-earnings-growth ratio of 0.90 and a beta of 1.43.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Thursday, November 1st. The oil and gas company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.02. Marathon Petroleum had a return on equity of 12.28% and a net margin of 4.48%. The firm had revenue of $23.13 billion for the quarter, compared to the consensus estimate of $23.20 billion. During the same quarter in the previous year, the company posted $1.77 earnings per share. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. On average, equities analysts anticipate that Marathon Petroleum Corp will post 5.01 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Wednesday, November 21st will be given a $0.46 dividend. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.90%. Marathon Petroleum’s dividend payout ratio is currently 48.42%.

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Marathon Petroleum Company Profile

Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Midstream. It refines crude oil and other feed stocks at its six refineries in the Gulf Coast and Midwest regions of the United States; and purchases refined products and ethanol for resale.

Featured Story: Intrinsic Value and Stock Selection

Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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