Point72 Asset Management L.P. grew its position in shares of Marathon Petroleum Corp (NYSE:MPC) by 1,822.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 262,329 shares of the oil and gas company’s stock after purchasing an additional 248,684 shares during the period. Point72 Asset Management L.P.’s holdings in Marathon Petroleum were worth $15,805,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Balentine LLC increased its holdings in Marathon Petroleum by 1.4% during the 3rd quarter. Balentine LLC now owns 12,126 shares of the oil and gas company’s stock valued at $737,000 after acquiring an additional 172 shares in the last quarter. Equitable Trust Co. grew its holdings in shares of Marathon Petroleum by 3.2% during the third quarter. Equitable Trust Co. now owns 5,605 shares of the oil and gas company’s stock worth $340,000 after buying an additional 175 shares in the last quarter. Unison Advisors LLC lifted its stake in shares of Marathon Petroleum by 0.8% during the fourth quarter. Unison Advisors LLC now owns 22,600 shares of the oil and gas company’s stock valued at $1,362,000 after buying an additional 188 shares during the period. Wealthspire Advisors L.P. boosted its holdings in shares of Marathon Petroleum by 4.2% during the fourth quarter. Wealthspire Advisors L.P. now owns 4,683 shares of the oil and gas company’s stock worth $282,000 after purchasing an additional 189 shares during the last quarter. Finally, Carnegie Capital Asset Management LLC grew its position in shares of Marathon Petroleum by 2.7% in the third quarter. Carnegie Capital Asset Management LLC now owns 7,407 shares of the oil and gas company’s stock valued at $450,000 after purchasing an additional 196 shares during the period. Institutional investors and hedge funds own 77.47% of the company’s stock.
Several research firms recently issued reports on MPC. Raymond James cut shares of Marathon Petroleum from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday. Morgan Stanley reduced their price objective on Marathon Petroleum from $75.00 to $35.00 and set an “overweight” rating on the stock in a research note on Monday, March 16th. Piper Sandler dropped their target price on shares of Marathon Petroleum from $82.00 to $74.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Zacks Investment Research raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research report on Monday, December 16th. Finally, Citigroup boosted their price objective on shares of Marathon Petroleum from $67.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. Marathon Petroleum currently has a consensus rating of “Buy” and a consensus price target of $65.33.
MPC stock traded up $2.03 during trading on Thursday, reaching $23.14. The stock had a trading volume of 18,504,639 shares, compared to its average volume of 9,593,409. Marathon Petroleum Corp has a 1-year low of $15.26 and a 1-year high of $69.65. The company has a current ratio of 1.25, a quick ratio of 0.61 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $11.37 billion, a P/E ratio of 5.80, a PEG ratio of 0.41 and a beta of 1.65. The firm has a fifty day moving average price of $43.10 and a 200 day moving average price of $55.91.
Marathon Petroleum (NYSE:MPC) last announced its earnings results on Wednesday, January 29th. The oil and gas company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.71. Marathon Petroleum had a return on equity of 7.45% and a net margin of 2.11%. The company had revenue of $31.38 billion during the quarter, compared to the consensus estimate of $30.07 billion. During the same period last year, the firm earned $2.41 earnings per share. The company’s revenue was down 3.6% on a year-over-year basis. Sell-side analysts predict that Marathon Petroleum Corp will post 3.27 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 19th were issued a dividend of $0.58 per share. The ex-dividend date was Tuesday, February 18th. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.53. This represents a $2.32 annualized dividend and a yield of 10.03%. Marathon Petroleum’s payout ratio is currently 46.96%.
Marathon Petroleum Company Profile
Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.
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