36,155 Shares in Marathon Petroleum Corporation $MPC Bought by Aristeia Capital L.L.C.

Aristeia Capital L.L.C. bought a new stake in Marathon Petroleum Corporation (NYSE:MPCFree Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 36,155 shares of the oil and gas company’s stock, valued at approximately $5,880,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Navalign LLC acquired a new position in Marathon Petroleum during the 4th quarter worth approximately $30,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Marathon Petroleum in the fourth quarter valued at approximately $31,000. KERR FINANCIAL PLANNING Corp bought a new stake in shares of Marathon Petroleum during the third quarter worth $39,000. IAG Wealth Partners LLC acquired a new position in shares of Marathon Petroleum during the third quarter worth $39,000. Finally, Berbice Capital Management LLC lifted its stake in shares of Marathon Petroleum by 100.0% in the 4th quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Key Stories Impacting Marathon Petroleum

Here are the key news stories impacting Marathon Petroleum this week:

Insider Buying and Selling at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the transaction, the vice president owned 16,900 shares of the company’s stock, valued at $4,543,058. This trade represents a 27.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is currently owned by company insiders.

Marathon Petroleum Trading Down 2.3%

NYSE MPC opened at $244.63 on Thursday. The firm has a market capitalization of $71.42 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 0.38 and a beta of 0.52. The business’s 50-day moving average price is $244.99 and its two-hundred day moving average price is $213.77. The company has a current ratio of 1.18, a quick ratio of 0.73 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a 12 month low of $158.00 and a 12 month high of $272.46.

Marathon Petroleum (NYSE:MPCGet Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.91. The company had revenue of $34.20 billion for the quarter, compared to analyst estimates of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.24) earnings per share. On average, analysts expect that Marathon Petroleum Corporation will post 31.95 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Wednesday, May 20th. Marathon Petroleum’s dividend payout ratio is currently 26.11%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MPC. Mizuho boosted their price objective on Marathon Petroleum from $224.00 to $284.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. JPMorgan Chase & Co. lifted their price target on Marathon Petroleum from $235.00 to $257.00 in a research note on Wednesday, May 6th. Jefferies Financial Group boosted their price target on Marathon Petroleum from $279.00 to $296.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Scotiabank raised their price objective on shares of Marathon Petroleum from $174.00 to $210.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 22nd. Finally, Piper Sandler lifted their target price on shares of Marathon Petroleum from $197.00 to $228.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $272.94.

View Our Latest Stock Report on MPC

About Marathon Petroleum

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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