100,000 Shares in Marathon Petroleum Corporation $MPC Purchased by Bornite Capital Management LP

Bornite Capital Management LP bought a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 100,000 shares of the oil and gas company’s stock, valued at approximately $16,611,000. Marathon Petroleum makes up 1.7% of Bornite Capital Management LP’s portfolio, making the stock its 29th largest position.

Several other large investors have also modified their holdings of the business. Activest Wealth Management increased its holdings in Marathon Petroleum by 290.2% during the second quarter. Activest Wealth Management now owns 160 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 119 shares during the period. CBIZ Investment Advisory Services LLC boosted its position in Marathon Petroleum by 1,546.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 201 shares in the last quarter. Hughes Financial Services LLC purchased a new position in shares of Marathon Petroleum in the 1st quarter valued at $32,000. WPG Advisers LLC bought a new position in shares of Marathon Petroleum in the 1st quarter worth $32,000. Finally, NewSquare Capital LLC lifted its stake in shares of Marathon Petroleum by 103.1% during the 2nd quarter. NewSquare Capital LLC now owns 199 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 101 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Insider Activity at Marathon Petroleum

In related news, insider Molly R. Benson sold 10,879 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $163.00, for a total value of $1,773,277.00. Following the sale, the insider owned 28,700 shares in the company, valued at $4,678,100. This represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.21% of the stock is owned by company insiders.

Marathon Petroleum Trading Up 0.6%

Shares of Marathon Petroleum stock opened at $193.78 on Friday. The firm’s 50 day simple moving average is $187.86 and its two-hundred day simple moving average is $172.16. The firm has a market capitalization of $58.25 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 3.80 and a beta of 0.90. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $201.61. The company has a current ratio of 1.32, a quick ratio of 0.71 and a debt-to-equity ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, November 4th. The oil and gas company reported $3.01 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $0.01. The firm had revenue of $34.81 billion for the quarter, compared to analyst estimates of $31.06 billion. Marathon Petroleum had a net margin of 2.13% and a return on equity of 9.76%. Analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 19th will be paid a $1.00 dividend. The ex-dividend date is Wednesday, November 19th. This is a positive change from Marathon Petroleum’s previous quarterly dividend of $0.91. This represents a $4.00 annualized dividend and a dividend yield of 2.1%. Marathon Petroleum’s dividend payout ratio (DPR) is 38.81%.

Wall Street Analysts Forecast Growth

MPC has been the subject of a number of recent research reports. Wells Fargo & Company reduced their target price on shares of Marathon Petroleum from $214.00 to $213.00 and set an “overweight” rating for the company in a report on Wednesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Marathon Petroleum in a research note on Wednesday, October 8th. Evercore ISI raised their target price on shares of Marathon Petroleum from $170.00 to $210.00 and gave the company an “in-line” rating in a research note on Friday, September 19th. Bank of America lifted their price target on shares of Marathon Petroleum from $184.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, September 3rd. Finally, Morgan Stanley increased their price objective on Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, October 3rd. Eight analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and an average target price of $200.00.

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.