Cambridge Financial Group Inc. Takes $5.62 Million Position in Marathon Petroleum Co. (NYSE:MPC)

Cambridge Financial Group Inc. purchased a new stake in Marathon Petroleum Co. (NYSE:MPC) during the 4th quarter, HoldingsChannel reports. The fund purchased 40,317 shares of the oil and gas company’s stock, valued at approximately $5,624,000.

Other hedge funds have also made changes to their positions in the company. True Wealth Design LLC grew its stake in shares of Marathon Petroleum by 672.7% during the third 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 last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in Marathon Petroleum in the fourth quarter valued at about $27,000. Asset Planning Inc acquired a new position in shares of Marathon Petroleum in the 4th quarter valued at approximately $28,000. Sierra Ocean LLC bought a new position in Marathon Petroleum in the fourth quarter valued at approximately $31,000. Finally, Cape Investment Advisory Inc. increased its holdings in Marathon Petroleum by 762.9% during the 4th quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 267 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $144.05 on Friday. The company has a 50 day moving average of $148.74 and a 200 day moving average of $151.59. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The firm has a market cap of $44.88 billion, a P/E ratio of 14.51, a PEG ratio of 3.11 and a beta of 1.39. Marathon Petroleum Co. has a twelve month low of $130.54 and a twelve month 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71. The business 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%. Marathon Petroleum’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.98 EPS. As a group, research analysts expect that Marathon Petroleum Co. will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have commented on MPC. TD Cowen reissued a “buy” rating and set a $170.00 price target on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Mizuho decreased their price target 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. Raymond James reissued a “strong-buy” rating on shares of Marathon Petroleum in a report on Thursday. Barclays raised their price objective on Marathon Petroleum from $159.00 to $161.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. Finally, Tudor Pickering upgraded shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average target price of $180.21.

Insider Activity

In related news, insider Ricky D. Hessling bought 2,000 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were bought at an average price of $134.72 per share, for a total transaction of $269,440.00. Following the completion of the purchase, the insider now directly owns 12,162 shares of the company’s stock, valued at approximately $1,638,464.64. This trade represents a 19.68 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Evan Bayh purchased 1,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was purchased at an average cost 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 of the company’s stock, valued at approximately $9,266,078.50. The trade was a 1.46 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.21% of the company’s stock.

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.