Corton Capital Inc. Purchases New Holdings in Marathon Petroleum Corporation (NYSE:MPC)
Corton Capital Inc. purchased a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC — Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 1,719 shares of the oil and gas company’s stock, valued at approximately $250,000.
Several other hedge funds also recently added to or reduced their stakes in the company. Richards Merrill & Peterson Inc. grew its holdings in Marathon Petroleum by 33.3% during the 1st quarter. Richards Merrill & Peterson Inc. now owns 400 shares of the oil and gas company’s stock valued at $58,000 after purchasing an additional 100 shares during the last quarter. Bryce Point Capital LLC grew its stake in Marathon Petroleum by 30.5% in the 1st quarter. Bryce Point Capital LLC now owns 5,466 shares of the oil and gas company’s stock worth $793,000 after acquiring an additional 1,278 shares in the last quarter. LPL Financial LLC grew its stake in Marathon Petroleum by 7.3% in the 1st quarter. LPL Financial LLC now owns 412,129 shares of the oil and gas company’s stock worth $60,043,000 after acquiring an additional 27,937 shares in the last quarter. Waddell & Associates LLC grew its stake in Marathon Petroleum by 9.4% in the 1st quarter. Waddell & Associates LLC now owns 2,332 shares of the oil and gas company’s stock worth $340,000 after acquiring an additional 200 shares in the last quarter. Finally, Texas Yale Capital Corp. grew its stake in Marathon Petroleum by 169.2% in the 1st quarter. Texas Yale Capital Corp. now owns 11,805 shares of the oil and gas company’s stock worth $1,720,000 after acquiring an additional 7,420 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have commented on MPC. TD Cowen upped their target price on shares of Marathon Petroleum from $152.00 to $163.00 and gave the stock a “buy” rating in a research note on Tuesday, June 10th. Wall Street Zen upgraded shares of Marathon Petroleum from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Evercore ISI began coverage on shares of Marathon Petroleum in a research note on Wednesday, June 18th. They issued an “in-line” rating and a $170.00 target price on the stock. Piper Sandler upped their target price on shares of Marathon Petroleum from $175.00 to $182.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Finally, UBS Group upped their target price on shares of Marathon Petroleum from $175.00 to $203.00 and gave the stock a “buy” rating in a research note on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Marathon Petroleum presently has an average rating of “Hold” and an average target price of $183.93.
View Our Latest Research Report on Marathon Petroleum
Insider Activity
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 shares were sold at an average price of $175.00, for a total value of $1,293,600.00. Following the completion of the transaction, the director owned 18,944 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. Corporate insiders own 0.21% of the company’s stock.
Marathon Petroleum Trading Up 0.2%
NYSE:MPC opened at $171.64 on Friday. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $183.31. The firm has a 50 day moving average of $167.65 and a 200 day moving average of $152.42. The company has a quick ratio of 0.73, a current ratio of 1.19 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $52.73 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 2.93 and a beta of 0.88.
Marathon Petroleum (NYSE:MPC — Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.16. The business had revenue of $31.85 billion during the quarter, compared to analysts’ expectations of $28.91 billion. Marathon Petroleum had a net margin of 1.75% and a return on equity of 8.89%. The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the company posted $2.58 earnings per share. As a group, sell-side analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.
Marathon Petroleum Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st were issued a $0.91 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.12%. Marathon Petroleum’s dividend payout ratio is currently 51.20%.
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.
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