Kentucky Farm Bureau Mutual Insurance Co Invests $3.83 Million in Marathon Petroleum Corporation $MPC

Kentucky Farm Bureau Mutual Insurance Co purchased a new position in shares of Marathon Petroleum Corporation (NYSE:MPC) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 15,000 shares of the oil and gas company’s stock, valued at approximately $3,835,000. Marathon Petroleum makes up approximately 1.1% of Kentucky Farm Bureau Mutual Insurance Co’s portfolio, making the stock its 25th biggest position.

Other large investors have also recently added to or reduced their stakes in the company. Bell Investment Advisors Inc acquired a new position in Marathon Petroleum during the 2nd quarter worth $27,000. Navalign LLC bought a new position in shares of Marathon Petroleum during the 4th quarter worth about $30,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Marathon Petroleum during the fourth quarter valued at about $31,000. Berbice Capital Management LLC increased its stake in Marathon Petroleum by 100.0% during the fourth quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 100 shares during the period. Finally, WFA of San Diego LLC bought a new stake in shares of Marathon Petroleum in the 2nd quarter worth approximately $33,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

NYSE:MPC opened at $361.02 on Thursday. The firm has a market cap of $105.40 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 0.24 and a beta of 0.52. The company’s 50-day moving average price is $293.31 and its two-hundred day moving average price is $252.19. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. Marathon Petroleum Corporation has a 12 month low of $161.93 and a 12 month high of $367.24.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, topping analysts’ consensus estimates of $14.27 by $3.46. The business had revenue of $51.99 billion for the quarter, compared to analyst estimates of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.Marathon Petroleum’s revenue for the quarter was up 53.5% on a year-over-year basis. During the same period in the prior year, the company earned $3.96 EPS. On average, equities analysts anticipate that Marathon Petroleum Corporation will post 46.66 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $4.00 dividend on an annualized basis and a yield of 1.1%. Marathon Petroleum’s dividend payout ratio is currently 13.75%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Marathon Petroleum from $235.00 to $257.00 in a research note on Wednesday, May 6th. BMO Capital Markets reiterated an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, June 12th. Barclays upped their target price on shares of Marathon Petroleum from $289.00 to $321.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Mizuho raised their price target on shares of Marathon Petroleum from $284.00 to $304.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Finally, The Goldman Sachs Group lifted their price objective on Marathon Petroleum from $291.00 to $376.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $312.50.

Insider Activity

In related news, SVP Shawn M. Lyon sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $350.00, for a total value of $875,000.00. Following the completion of the transaction, the senior vice president owned 12,619 shares in the company, valued at $4,416,650. The trade was a 16.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Michael A. Henschen II sold 6,336 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the transaction, the vice president directly owned 16,900 shares in the company, valued at approximately $4,543,058. This represents a 27.27% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.17% of the company’s stock.

Marathon Petroleum Company 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.