Cambridge Financial Group Inc. Takes Position in Marathon Petroleum Co. (NYSE:MPC)

Cambridge Financial Group Inc. acquired a new stake in shares of Marathon Petroleum Co. (NYSE:MPC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 40,317 shares of the oil and gas company’s stock, valued at approximately $5,624,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SWS Partners increased its stake in Marathon Petroleum by 19.0% in the 4th quarter. SWS Partners now owns 17,577 shares of the oil and gas company’s stock worth $2,452,000 after acquiring an additional 2,806 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Marathon Petroleum by 1,204.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company’s stock worth $75,757,000 after acquiring an additional 501,441 shares in the last quarter. Wilmington Savings Fund Society FSB increased its holdings in Marathon Petroleum by 747.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 21,275 shares of the oil and gas company’s stock worth $3,466,000 after purchasing an additional 18,764 shares during the period. Greatmark Investment Partners Inc. raised its holdings in shares of Marathon Petroleum by 3.5% in the fourth quarter. Greatmark Investment Partners Inc. now owns 161,171 shares of the oil and gas company’s stock valued at $22,483,000 after acquiring an additional 5,476 shares in the last quarter. Finally, TCTC Holdings LLC lifted its position in shares of Marathon Petroleum by 3.3% in the 4th quarter. TCTC Holdings LLC now owns 91,256 shares of the oil and gas company’s stock worth $12,730,000 after purchasing an additional 2,892 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Insider Activity

In other Marathon Petroleum news, insider Ricky D. Hessling purchased 2,000 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was bought at an average cost of $134.72 per share, with a total value of $269,440.00. Following the acquisition, the insider now owns 12,162 shares of the company’s stock, valued at $1,638,464.64. The trade was a 19.68 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Evan Bayh bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average price of $133.70 per share, for a total transaction of $133,700.00. Following the completion of the acquisition, the director now directly owns 69,305 shares in the company, valued at approximately $9,266,078.50. The trade was a 1.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

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

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $144.05 on Friday. Marathon Petroleum Co. has a 52 week low of $130.54 and a 52 week high of $221.11. The stock has a market cap of $44.88 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 3.11 and a beta of 1.39. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The company’s 50-day moving average price is $148.74 and its 200 day moving average price is $151.59.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, topping 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 firm had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $31.94 billion. During the same period in the previous year, the company earned $3.98 EPS. Marathon Petroleum’s revenue for the quarter was down 9.1% on a year-over-year basis. As a group, research analysts forecast that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

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