AlphaQuest LLC Invests $1.08 Million in Marathon Petroleum Co. (NYSE:MPC)

AlphaQuest LLC acquired a new position in shares of Marathon Petroleum Co. (NYSE:MPC) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 7,740 shares of the oil and gas company’s stock, valued at approximately $1,080,000.

Several other large investors have also modified their holdings of the stock. Argentarii LLC purchased a new position in shares of Marathon Petroleum during the 4th quarter worth about $592,000. OFI Invest Asset Management acquired a new stake in Marathon Petroleum during the 4th quarter worth approximately $44,000. Atlantic Union Bankshares Corp increased its position in Marathon Petroleum by 1.5% during the 4th quarter. Atlantic Union Bankshares Corp now owns 28,906 shares of the oil and gas company’s stock worth $4,032,000 after purchasing an additional 429 shares in the last quarter. Amundi increased its position in Marathon Petroleum by 18.0% during the 4th quarter. Amundi now owns 2,807,566 shares of the oil and gas company’s stock worth $398,388,000 after purchasing an additional 428,708 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC increased its position in Marathon Petroleum by 2.0% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 4,291 shares of the oil and gas company’s stock worth $599,000 after purchasing an additional 84 shares in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Down 1.0 %

MPC stock opened at $136.22 on Tuesday. Marathon Petroleum Co. has a twelve month low of $130.54 and a twelve month high of $221.11. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $42.58 billion, a P/E ratio of 13.72, a PEG ratio of 3.11 and a beta of 1.39. The firm has a 50 day simple moving average of $148.62 and a 200-day simple moving average of $153.91.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The business had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $31.94 billion. During the same quarter last year, the company earned $3.98 earnings per share. The business’s quarterly revenue was down 9.1% compared to the same quarter last year. On average, equities research analysts predict that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors 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 2.67%. The ex-dividend date was Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 36.66%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Barclays dropped their target price on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Raymond James increased their target price on shares of Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 17th. TD Cowen reaffirmed a “buy” rating and issued a $170.00 price objective on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Mizuho lowered their price objective on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Finally, Piper Sandler lowered their price objective on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research report on Friday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.00.

Insider Buying and Selling

In other news, Director Evan Bayh acquired 1,000 shares of Marathon Petroleum stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average cost of $133.70 per share, for a total transaction of $133,700.00. Following the completion of the purchase, the director now directly owns 69,305 shares of the company’s stock, valued at $9,266,078.50. This trade represents a 1.46 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.21% of the stock is currently owned by company insiders.

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.