MQS Management LLC Purchases New Position in Marathon Petroleum Corporation $MPC

MQS Management LLC acquired a new position in Marathon Petroleum Corporation (NYSE:MPC — Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,486 shares of the oil and gas company’s stock, valued at approximately $247,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Silver Oak Securities Incorporated purchased a new stake in Marathon Petroleum in the 1st quarter worth about $339,000. Jump Financial LLC raised its position in Marathon Petroleum by 128.0% in the 1st quarter. Jump Financial LLC now owns 8,663 shares of the oil and gas company’s stock worth $1,262,000 after purchasing an additional 4,863 shares during the period. Weatherly Asset Management L. P. purchased a new stake in Marathon Petroleum in the 1st quarter worth about $216,000. Journey Strategic Wealth LLC raised its position in Marathon Petroleum by 105.0% in the 1st quarter. Journey Strategic Wealth LLC now owns 8,582 shares of the oil and gas company’s stock worth $1,250,000 after purchasing an additional 4,396 shares during the period. Finally, FSM Wealth Advisors LLC purchased a new stake in Marathon Petroleum in the 2nd quarter worth about $685,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Price Performance

NYSE MPC opened at $196.13 on Tuesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. The firm’s 50 day moving average price is $184.19 and its 200-day moving average price is $167.95. Marathon Petroleum Corporation has a 52-week low of $115.10 and a 52-week high of $201.61. The company has a market cap of $59.63 billion, a PE ratio of 29.10, a P/E/G ratio of 4.11 and a beta of 0.90.

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 analysts’ consensus estimates of $3.22 by $0.74. The firm had revenue of $34.10 billion for the quarter, compared to the consensus estimate of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The company’s quarterly revenue was down 11.1% on a year-over-year basis. During the same period last year, the firm earned $4.12 earnings per share. Sell-side analysts forecast that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Wednesday, August 20th. Marathon Petroleum’s payout ratio is presently 54.01%.

Insider Activity at Marathon Petroleum

In other news, insider Molly R. Benson sold 10,879 shares of Marathon Petroleum stock in a transaction on Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the sale, the insider directly owned 28,700 shares in the company, valued at approximately $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

MPC has been the topic of a number of recent analyst reports. Wells Fargo & Company assumed coverage on shares of Marathon Petroleum in a research report on Friday, October 17th. They issued an “overweight” rating and a $214.00 price objective on the stock. Dbs Bank raised shares of Marathon Petroleum to a “moderate buy” rating in a research report on Monday, July 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Marathon Petroleum in a research report on Wednesday, October 8th. TD Cowen reduced their target price on shares of Marathon Petroleum from $190.00 to $182.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Finally, Mizuho raised their target price on shares of Marathon Petroleum from $184.00 to $188.00 and gave the stock a “neutral” rating in a research report on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, Marathon Petroleum has an average rating of “Moderate Buy” and a consensus price target of $200.31.

Check Out Our Latest Research Report on MPC

About Marathon Petroleum

(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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