Marathon Petroleum Co. (NYSE:MPC) Shares Purchased by Recurrent Investment Advisors LLC

Recurrent Investment Advisors LLC raised its stake in Marathon Petroleum Co. (NYSE:MPC) by 15.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 175,065 shares of the oil and gas company’s stock after purchasing an additional 23,878 shares during the period. Marathon Petroleum comprises 2.2% of Recurrent Investment Advisors LLC’s portfolio, making the stock its 18th largest holding. Recurrent Investment Advisors LLC’s holdings in Marathon Petroleum were worth $24,422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Claro Advisors LLC boosted its holdings in shares of Marathon Petroleum by 66.1% in the fourth quarter. Claro Advisors LLC now owns 2,841 shares of the oil and gas company’s stock valued at $396,000 after acquiring an additional 1,131 shares during the period. Miracle Mile Advisors LLC purchased a new stake in Marathon Petroleum in the 4th quarter valued at $1,042,000. Pallas Capital Advisors LLC boosted its stake in Marathon Petroleum by 154.8% during the 4th quarter. Pallas Capital Advisors LLC now owns 5,695 shares of the oil and gas company’s stock worth $794,000 after purchasing an additional 3,460 shares during the period. Allen Mooney & Barnes Investment Advisors LLC grew its position in Marathon Petroleum by 63.8% during the 4th quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 2,591 shares of the oil and gas company’s stock worth $362,000 after purchasing an additional 1,009 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Marathon Petroleum by 1,204.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company’s stock valued at $75,757,000 after purchasing an additional 501,441 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

MPC stock opened at $163.64 on Thursday. The firm has a 50 day moving average of $138.59 and a 200-day moving average of $145.34. The company has a market cap of $50.27 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 3.11 and a beta of 0.87. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a 12-month low of $115.10 and a 12-month high of $183.31.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.16. The firm had revenue of $31.85 billion during the quarter, compared to analysts’ expectations of $28.91 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. Marathon Petroleum’s revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.58 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 firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be paid a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $3.64 dividend on an annualized basis and a yield of 2.22%. Marathon Petroleum’s payout ratio is 51.20%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MPC shares. TD Cowen raised their price target on Marathon Petroleum from $142.00 to $152.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Piper Sandler dropped their target price on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Mizuho increased their price target on Marathon Petroleum from $168.00 to $184.00 and gave the stock a “neutral” rating in a report on Tuesday. Morgan Stanley dropped their price objective on shares of Marathon Petroleum from $175.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Finally, Wells Fargo & Company raised their target price on shares of Marathon Petroleum from $175.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $175.29.

Insider Buying and Selling at Marathon Petroleum

In related news, insider Ricky D. Hessling acquired 2,000 shares of Marathon Petroleum stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average cost of $134.72 per share, for a total transaction of $269,440.00. Following the completion of the transaction, the insider now directly owns 12,162 shares of the company’s stock, valued at $1,638,464.64. The trade was a 19.68% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Evan Bayh acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average price of $133.70 per share, with a total value of $133,700.00. Following the transaction, the director now owns 69,305 shares in the company, valued at $9,266,078.50. This represents a 1.46% increase in their position. The disclosure for this purchase can be found here. 0.21% of the stock is currently owned by 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.