Hudson Bay Capital Management LP Invests $518,000 in Marathon Petroleum Corporation $MPC

Hudson Bay Capital Management LP bought a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,689 shares of the oil and gas company’s stock, valued at approximately $518,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Saranac Partners Ltd acquired a new position in Marathon Petroleum during the third quarter worth $352,000. Swiss Life Asset Management Ltd grew its position in shares of Marathon Petroleum by 6.3% in the third quarter. Swiss Life Asset Management Ltd now owns 43,675 shares of the oil and gas company’s stock valued at $8,418,000 after purchasing an additional 2,600 shares during the period. Groupama Asset Managment grew its position in shares of Marathon Petroleum by 1.7% in the third quarter. Groupama Asset Managment now owns 12,384 shares of the oil and gas company’s stock valued at $2,387,000 after purchasing an additional 210 shares during the period. Investment Research Partners LLC purchased a new stake in shares of Marathon Petroleum during the third quarter worth about $200,000. Finally, KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Marathon Petroleum during the third quarter worth about $39,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Up 0.0%

NYSE MPC opened at $232.63 on Tuesday. The business’s fifty day simple moving average is $200.16 and its 200-day simple moving average is $190.59. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 1.27. The firm has a market cap of $68.51 billion, a PE ratio of 17.43, a P/E/G ratio of 1.39 and a beta of 0.69. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $242.98.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.73 by $0.34. Marathon Petroleum had a net margin of 2.99% and a return on equity of 13.90%. The firm had revenue of $32.57 billion during the quarter, compared to analyst estimates of $30.89 billion. During the same quarter in the prior year, the firm posted $0.77 earnings per share. Marathon Petroleum’s quarterly revenue was down .1% on a year-over-year basis. As a group, equities analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 18th were paid a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, February 18th. This represents a $4.00 annualized dividend and a dividend yield of 1.7%. Marathon Petroleum’s dividend payout ratio is 29.96%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Weiss Ratings lowered shares of Marathon Petroleum from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. Scotiabank reiterated an “outperform” rating and set a $174.00 price objective on shares of Marathon Petroleum in a research note on Friday, January 16th. JPMorgan Chase & Co. reduced their target price on Marathon Petroleum from $211.00 to $179.00 and set a “neutral” rating for the company in a report on Tuesday, January 13th. BMO Capital Markets raised their target price on Marathon Petroleum from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Tuesday, March 3rd. Finally, Raymond James Financial lifted their price target on Marathon Petroleum from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Ten investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $205.44.

Insider Activity

In other news, insider Ricky D. Hessling sold 1,626 shares of Marathon Petroleum stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $228.18, for a total transaction of $371,020.68. Following the sale, the insider owned 7,525 shares of the company’s stock, valued at approximately $1,717,054.50. The trade was a 17.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 4,473 shares of company stock worth $1,015,428. 0.17% of the stock is owned by company insiders.

About Marathon Petroleum

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.