Edgestream Partners L.P. Acquires 4,665 Shares of Marathon Petroleum Co. (NYSE:MPC)

Edgestream Partners L.P. raised its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 28.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,162 shares of the oil and gas company’s stock after purchasing an additional 4,665 shares during the quarter. Edgestream Partners L.P.’s holdings in Marathon Petroleum were worth $2,952,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in MPC. Capital Performance Advisors LLP bought a new stake in shares of Marathon Petroleum during the third quarter worth $52,000. Equitable Trust Co. increased its stake in shares of Marathon Petroleum by 212.8% during the third quarter. Equitable Trust Co. now owns 5,145 shares of the oil and gas company’s stock valued at $838,000 after buying an additional 3,500 shares during the period. CWA Asset Management Group LLC purchased a new position in shares of Marathon Petroleum during the third quarter valued at $1,451,000. Assetmark Inc. increased its stake in shares of Marathon Petroleum by 1.8% during the third quarter. Assetmark Inc. now owns 47,358 shares of the oil and gas company’s stock valued at $7,715,000 after buying an additional 846 shares during the period. Finally, Lindbrook Capital LLC increased its stake in shares of Marathon Petroleum by 6.3% during the third quarter. Lindbrook Capital LLC now owns 4,484 shares of the oil and gas company’s stock valued at $730,000 after buying an additional 267 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $137.65 on Monday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The company has a market cap of $43.03 billion, a PE ratio of 13.86, a P/E/G ratio of 3.11 and a beta of 1.39. The business has a 50-day simple moving average of $148.61 and a two-hundred day simple moving average of $154.16. Marathon Petroleum Co. has a fifty-two week low of $130.54 and a fifty-two week 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 for the quarter, topping the consensus estimate of $0.06 by $0.71. The business had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $31.94 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The company’s quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter last year, the company earned $3.98 earnings per share. As a group, equities analysts expect that Marathon Petroleum Co. will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date is Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio (DPR) is 36.66%.

Insider Buying and Selling

In other news, Director Evan Bayh bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average price of $133.70 per share, with a total value 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 $9,266,078.50. This trade represents a 1.46 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

MPC has been the topic of several research reports. Mizuho cut their price target on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Piper Sandler cut their price target on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating on the stock in a research note on Friday. TD Cowen restated a “buy” rating and set a $170.00 price target on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Raymond James raised their price target on Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a research note on Friday, January 17th. Finally, Barclays cut their target price on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $182.00.

About Marathon Petroleum

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.