Cinctive Capital Management LP Has $9.22 Million Holdings in Marathon Petroleum Corporation $MPC
Cinctive Capital Management LP increased its stake in shares of Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 44.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,281 shares of the oil and gas company’s stock after purchasing an additional 19,339 shares during the period. Cinctive Capital Management LP’s holdings in Marathon Petroleum were worth $9,219,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Good Steward Wealth Advisors LLC acquired a new stake in shares of Marathon Petroleum during the first quarter worth $346,000. Silver Oak Securities Incorporated acquired a new position in shares of Marathon Petroleum during the first quarter worth about $339,000. Financial Partners Group LLC boosted its position in shares of Marathon Petroleum by 65.8% during the first quarter. Financial Partners Group LLC now owns 3,937 shares of the oil and gas company’s stock worth $574,000 after buying an additional 1,563 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of Marathon Petroleum by 8.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 44,387 shares of the oil and gas company’s stock worth $6,467,000 after buying an additional 3,291 shares during the period. Finally, Weatherly Asset Management L. P. acquired a new position in shares of Marathon Petroleum during the first quarter worth about $216,000. 76.77% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the company. Morgan Stanley upped their price objective on Marathon Petroleum from $160.00 to $182.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. Piper Sandler upped their price objective on Marathon Petroleum from $175.00 to $182.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Scotiabank reaffirmed an “outperform” rating on shares of Marathon Petroleum in a research report on Friday, July 11th. Barclays upped their target price on Marathon Petroleum from $159.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Finally, Wolfe Research lowered Marathon Petroleum from an “outperform” rating to a “peer perform” rating in a report on Monday, July 14th. Eight analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $186.57.
Read Our Latest Report on Marathon Petroleum
Insider Buying and Selling
In other news, insider Molly R. Benson sold 10,879 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the transaction, the insider owned 28,700 shares in the company, valued at approximately $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kim K.W. Rucker sold 7,392 shares of the stock in a transaction that occurred 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 transaction, the director owned 18,944 shares in the company, valued at approximately $3,315,200. This trade represents a 28.07% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.
Marathon Petroleum Price Performance
NYSE:MPC opened at $178.94 on Thursday. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. The stock’s 50 day moving average price is $171.26 and its two-hundred day moving average price is $155.89. The firm has a market capitalization of $54.40 billion, a price-to-earnings ratio of 26.55, a P/E/G ratio of 3.27 and a beta of 0.97. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $183.50.
Marathon Petroleum (NYSE:MPC — Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.74. The firm had revenue of $34.10 billion for the quarter, compared to analyst estimates of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The business’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.12 earnings per share. On average, analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.
Marathon Petroleum Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th will be paid a $0.91 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $3.64 annualized dividend and a yield of 2.0%. Marathon Petroleum’s dividend payout ratio is currently 54.01%.
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.
See Also
Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Corporation (NYSE:MPC — Free Report).
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