Allstate Corp Invests $1.40 Million in Marathon Petroleum Co. (NYSE:MPC)

Allstate Corp purchased a new stake in shares of Marathon Petroleum Co. (NYSE:MPC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 10,061 shares of the oil and gas company’s stock, valued at approximately $1,404,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. OLD Second National Bank of Aurora grew its holdings in Marathon Petroleum by 7.2% in the fourth quarter. OLD Second National Bank of Aurora now owns 994 shares of the oil and gas company’s stock worth $139,000 after purchasing an additional 67 shares during the period. Nixon Peabody Trust Co. grew its holdings in shares of Marathon Petroleum by 3.4% in the fourth quarter. Nixon Peabody Trust Co. now owns 2,068 shares of the oil and gas company’s stock worth $288,000 after acquiring an additional 68 shares during the period. Lake Street Advisors Group LLC increased its position in shares of Marathon Petroleum by 1.6% during the 4th quarter. Lake Street Advisors Group LLC now owns 4,271 shares of the oil and gas company’s stock valued at $596,000 after purchasing an additional 69 shares during the last quarter. American Trust increased its holdings in Marathon Petroleum by 5.3% during the third quarter. American Trust now owns 1,397 shares of the oil and gas company’s stock valued at $228,000 after buying an additional 70 shares during the last quarter. Finally, DT Investment Partners LLC increased its stake in shares of Marathon Petroleum by 21.5% in the 4th quarter. DT Investment Partners LLC now owns 395 shares of the oil and gas company’s stock worth $55,000 after purchasing an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Insider Activity

In other news, Director Evan Bayh bought 1,000 shares of Marathon Petroleum stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average cost of $133.70 per share, with a total value 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ricky D. Hessling bought 2,000 shares of the stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average price of $134.72 per share, for a total transaction of $269,440.00. Following the completion of the transaction, the insider now owns 12,162 shares of the company’s stock, valued at approximately $1,638,464.64. The trade was a 19.68 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on MPC. Raymond James restated a “strong-buy” rating on shares of Marathon Petroleum in a research report on Thursday. Tudor Pickering raised Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. Mizuho lowered their price target on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a report on Monday, December 16th. TD Cowen reaffirmed a “buy” rating and set a $170.00 price objective on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Finally, Piper Sandler dropped their target price on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $180.21.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $144.05 on Monday. The stock 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 business has a 50-day simple moving average of $148.74 and a 200-day simple moving average of $151.46. 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 announced its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.71. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The company had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $31.94 billion. During the same quarter in the prior year, the company earned $3.98 EPS. Marathon Petroleum’s revenue was down 9.1% compared to the same quarter last year. On average, equities analysts expect that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 19th were issued a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.64 annualized dividend and a yield of 2.53%. Marathon Petroleum’s dividend payout ratio (DPR) is 36.66%.

Marathon Petroleum Company Profile

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.