ING Groep NV Purchases 83,587 Shares of Marathon Petroleum Co. (NYSE:MPC)

ING Groep NV raised its stake in Marathon Petroleum Co. (NYSE:MPC) by 11.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 784,016 shares of the oil and gas company’s stock after buying an additional 83,587 shares during the period. Marathon Petroleum comprises about 0.7% of ING Groep NV’s portfolio, making the stock its 23rd biggest position. ING Groep NV owned 0.24% of Marathon Petroleum worth $109,370,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Gladius Capital Management LP bought a new stake in shares of Marathon Petroleum in the 3rd quarter valued at about $26,000. MeadowBrook Investment Advisors LLC lifted its stake in shares of Marathon Petroleum by 88.9% in the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 80 shares during the period. True Wealth Design LLC lifted its stake in shares of Marathon Petroleum by 672.7% in the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 148 shares during the period. Harbor Capital Advisors Inc. acquired a new position in shares of Marathon Petroleum in the 3rd quarter valued at about $30,000. Finally, Darwin Wealth Management LLC acquired a new position in shares of Marathon Petroleum in the 3rd quarter valued at about $33,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of MPC opened at $156.79 on Thursday. The firm has a market capitalization of $50.39 billion, a P/E ratio of 15.79, a P/E/G ratio of 3.13 and a beta of 1.41. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The stock has a 50 day moving average price of $146.32 and a two-hundred day moving average price of $156.63. Marathon Petroleum Co. has a 52 week low of $130.54 and a 52 week high of $221.11.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.71. The company had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $31.94 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. Marathon Petroleum’s revenue was down 9.1% on a year-over-year basis. During the same period last year, the business posted $3.98 earnings per share. Equities analysts forecast that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum announced that its board has initiated a share buyback program on Tuesday, November 5th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the oil and gas company to purchase up to 10% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Wednesday, February 19th. Marathon Petroleum’s payout ratio is 36.66%.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, Director Jeffrey C. Campbell purchased 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was bought at an average cost of $149.61 per share, with a total value of $897,660.00. Following the completion of the transaction, the director now owns 6,090 shares of the company’s stock, valued at $911,124.90. The trade was a 6,666.67 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.21% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MPC. Wells Fargo & Company boosted their price objective on Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Barclays dropped their price objective on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Tudor Pickering raised Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Raymond James upped their price target on Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 17th. Finally, TD Cowen reaffirmed a “buy” rating and set a $170.00 price target on shares of Marathon Petroleum in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.27.

Marathon Petroleum 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.