Cambridge Financial Group Inc. Makes New Investment in Marathon Petroleum Co. (NYSE:MPC)

Cambridge Financial Group Inc. bought a new position in Marathon Petroleum Co. (NYSE:MPC - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 40,317 shares of the oil and gas company's stock, valued at approximately $5,624,000.

Several other hedge funds and other institutional investors also recently modified their holdings of MPC. Fisher Asset Management LLC boosted its holdings in shares of Marathon Petroleum by 44.3% in the third quarter. Fisher Asset Management LLC now owns 15,865 shares of the oil and gas company's stock worth $2,585,000 after acquiring an additional 4,868 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Marathon Petroleum in the 3rd quarter worth about $4,073,000. Vinva Investment Management Ltd increased its position in shares of Marathon Petroleum by 5.8% during the third quarter. Vinva Investment Management Ltd now owns 17,327 shares of the oil and gas company's stock valued at $2,836,000 after buying an additional 953 shares during the period. Atlantic Union Bankshares Corp lifted its holdings in shares of Marathon Petroleum by 6.9% in the third quarter. Atlantic Union Bankshares Corp now owns 28,477 shares of the oil and gas company's stock worth $4,639,000 after buying an additional 1,843 shares in the last quarter. Finally, Captrust Financial Advisors boosted its position in shares of Marathon Petroleum by 10.2% in the third quarter. Captrust Financial Advisors now owns 89,122 shares of the oil and gas company's stock valued at $14,519,000 after acquiring an additional 8,283 shares during the period. Institutional investors own 76.77% of the company's stock.

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Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, Director Evan Bayh bought 1,000 shares of Marathon Petroleum stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average cost of $133.70 per share, with a total value of $133,700.00. Following the completion of the purchase, the director now owns 69,305 shares of the company's stock, valued at approximately $9,266,078.50. This represents a 1.46 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ricky D. Hessling purchased 2,000 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average cost of $134.72 per share, with a total value of $269,440.00. Following the purchase, the insider now directly owns 12,162 shares of the company's stock, valued at $1,638,464.64. This trade represents a 19.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.21% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on MPC. Raymond James reiterated a "strong-buy" rating on shares of Marathon Petroleum in a research note on Thursday, March 27th. Barclays lifted their price objective on Marathon Petroleum from $159.00 to $161.00 and gave the company an "overweight" rating in a research note on Friday, March 14th. Tudor Pickering raised Marathon Petroleum from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 4th. Wells Fargo & Company boosted their price objective on Marathon Petroleum from $183.00 to $185.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Finally, Mizuho lowered their target price on shares of Marathon Petroleum from $175.00 to $174.00 and set a "neutral" rating on the stock in a research note on Monday, December 16th. 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 given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $180.21.

Marathon Petroleum Trading Up 0.6 %

Shares of NYSE MPC traded up $0.94 during midday trading on Wednesday, reaching $147.57. The company had a trading volume of 763,767 shares, compared to its average volume of 2,637,899. The stock has a market cap of $45.97 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 3.11 and a beta of 1.39. Marathon Petroleum Co. has a one year low of $130.54 and a one year high of $221.11. The firm's fifty day moving average price is $148.52 and its 200-day moving average price is $151.23. 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 - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.71. The firm had revenue of $33.47 billion during the quarter, compared to analyst estimates of $31.94 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The business's quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.98 earnings per share. On average, equities research analysts anticipate that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 19th were paid a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.64 annualized dividend and a dividend yield of 2.47%. Marathon Petroleum's payout ratio 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.