Nuveen LLC Purchases Shares of 1,009,830 Marathon Petroleum Corporation (NYSE:MPC)

Nuveen LLC acquired a new position in shares of Marathon Petroleum Corporation (NYSE:MPC — Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,009,830 shares of the oil and gas company’s stock, valued at approximately $147,122,000. Nuveen LLC owned approximately 0.33% of Marathon Petroleum at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fourth Dimension Wealth LLC bought a new position in shares of Marathon Petroleum during the 4th quarter worth about $26,000. CBIZ Investment Advisory Services LLC lifted its position in Marathon Petroleum by 1,546.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 201 shares in the last quarter. Hughes Financial Services LLC bought a new position in Marathon Petroleum in the 1st quarter valued at about $32,000. Decker Retirement Planning Inc. lifted its position in Marathon Petroleum by 1,621.4% in the 1st quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 227 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC bought a new position in Marathon Petroleum in the 1st quarter valued at about $35,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Down 1.4%

Marathon Petroleum stock opened at $158.61 on Tuesday. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $183.10. The firm has a market capitalization of $48.22 billion, a price-to-earnings ratio of 23.53, a P/E/G ratio of 2.88 and a beta of 0.90. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. The firm has a 50 day simple moving average of $169.25 and a 200 day simple moving average of $153.78.

Marathon Petroleum (NYSE:MPC — Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, beating analysts’ consensus estimates of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The business had revenue of $34.10 billion during the quarter, compared to analyst estimates of $31.70 billion. During the same period in the previous year, the business earned $4.12 EPS. Marathon Petroleum’s revenue was down 11.1% compared to the same quarter last year. On average, analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Wednesday, August 20th. Marathon Petroleum’s payout ratio is currently 54.01%.

Insiders Place Their Bets

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the firm’s stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total value of $1,293,600.00. Following the completion of the transaction, the director directly owned 18,944 shares of the company’s stock, valued at $3,315,200. This trade represents a 28.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

MPC has been the subject of several analyst reports. Wall Street Zen upgraded shares of Marathon Petroleum from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Morgan Stanley increased their price objective on shares of Marathon Petroleum from $160.00 to $182.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. Barclays increased their price objective on shares of Marathon Petroleum from $159.00 to $189.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Dbs Bank upgraded shares of Marathon Petroleum to a “moderate buy” rating in a research note on Monday, July 28th. Finally, Wolfe Research lowered shares of Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 14th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Marathon Petroleum presently has a consensus rating of “Hold” and an average target price of $185.29.

Get Our Latest Stock Analysis on Marathon Petroleum

About Marathon Petroleum

(Free Report)

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.

Read More

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Before you consider Marathon Petroleum, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Marathon Petroleum wasn’t on the list.

While Marathon Petroleum currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here