Bearing Point Capital LLC Takes $251,000 Position in Marathon Petroleum Corporation (NYSE:MPC)

Bearing Point Capital LLC acquired a new position in shares of Marathon Petroleum Corporation (NYSE:MPC — Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,720 shares of the oil and gas company’s stock, valued at approximately $251,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP grew its stake in shares of Marathon Petroleum by 78.1% in the fourth quarter. Wellington Management Group LLP now owns 9,961,503 shares of the oil and gas company’s stock worth $1,389,630,000 after purchasing an additional 4,367,774 shares during the last quarter. Demars Financial Group LLC grew its position in shares of Marathon Petroleum by 16,338.3% in the 4th quarter. Demars Financial Group LLC now owns 4,177,133 shares of the oil and gas company’s stock valued at $582,710,000 after buying an additional 4,151,722 shares during the last quarter. Norges Bank acquired a new stake in shares of Marathon Petroleum in the fourth quarter valued at about $453,427,000. GAMMA Investing LLC raised its position in shares of Marathon Petroleum by 14,969.1% during the first quarter. GAMMA Investing LLC now owns 1,540,963 shares of the oil and gas company’s stock worth $224,503,000 after acquiring an additional 1,530,737 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new position in shares of Marathon Petroleum in the fourth quarter worth approximately $81,318,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $171.64 on Friday. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $183.31. The company has a market cap of $52.73 billion, a P/E ratio of 24.14, a P/E/G ratio of 2.93 and a beta of 0.88. The firm has a 50-day moving average of $167.65 and a 200-day moving average of $152.42. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.19 and a quick ratio of 0.73.

Marathon Petroleum (NYSE:MPC — Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.16. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. The company had revenue of $31.85 billion during the quarter, compared to the consensus estimate of $28.91 billion. During the same period last year, the business posted $2.58 earnings per share. Marathon Petroleum’s revenue was down 4.1% on a year-over-year basis. Equities research analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st were given a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.12%. The ex-dividend date was Wednesday, May 21st. Marathon Petroleum’s dividend payout ratio is 51.20%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MPC shares. Raymond James Financial reissued an “outperform” rating and set a $200.00 target price (up previously from $180.00) on shares of Marathon Petroleum in a research report on Tuesday, July 15th. Piper Sandler upped their price objective on shares of Marathon Petroleum from $175.00 to $182.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Wells Fargo & Company increased their price objective on shares of Marathon Petroleum from $182.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. UBS Group boosted their target price on shares of Marathon Petroleum from $175.00 to $203.00 and gave the company a “buy” rating in a report on Thursday, July 10th. Finally, Evercore ISI assumed coverage on shares of Marathon Petroleum in a research report on Wednesday, June 18th. They set an “in-line” rating and a $170.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $183.93.

Read Our Latest Report on MPC

Insider Buying and Selling

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the firm’s stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total value of $1,293,600.00. Following the completion of the sale, the director directly owned 18,944 shares of the company’s stock, valued at $3,315,200. This trade represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.21% of the company’s stock.

Marathon Petroleum Company Profile

(Free Report)

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.

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