Y Intercept Hong Kong Ltd Increases Stock Position in Marathon Petroleum Corporation (NYSE:MPC)
Y Intercept Hong Kong Ltd increased its position in Marathon Petroleum Corporation (NYSE:MPC — Free Report) by 118.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,291 shares of the oil and gas company’s stock after acquiring an additional 2,331 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Marathon Petroleum were worth $625,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC purchased a new position in Marathon Petroleum in the 4th quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC grew its position in Marathon Petroleum by 1,546.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 201 shares during the period. Hughes Financial Services LLC bought a new stake in Marathon Petroleum in the 1st quarter worth approximately $32,000. Decker Retirement Planning Inc. grew its position in Marathon Petroleum by 1,621.4% in the 1st quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 227 shares during the period. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in Marathon Petroleum in the 1st quarter worth approximately $35,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.
Marathon Petroleum Stock Up 0.2%
Shares of MPC stock opened at $171.64 on Friday. The stock has a market cap of $52.73 billion, a P/E ratio of 24.14, a PEG ratio of 2.93 and a beta of 0.88. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $183.31. 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 company’s fifty day simple moving average is $167.65 and its two-hundred day simple moving average is $152.42.
Marathon Petroleum (NYSE:MPC — Get Free Report) last announced its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.16. The firm had revenue of $31.85 billion for 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 revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.58 EPS. Analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.
Marathon Petroleum Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Wednesday, May 21st. Marathon Petroleum’s dividend payout ratio is 51.20%.
Wall Street Analyst Weigh In
A number of research firms have commented on MPC. Piper Sandler lifted their target price on shares of Marathon Petroleum from $175.00 to $182.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Wells Fargo & Company boosted their price objective on shares of Marathon Petroleum from $182.00 to $205.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Barclays boosted their price objective on shares of Marathon Petroleum from $159.00 to $189.00 and gave the company an “overweight” rating in a research report on Friday, July 11th. Wall Street Zen raised shares of Marathon Petroleum from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Finally, Citigroup boosted their price objective on shares of Marathon Petroleum from $144.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. 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, Marathon Petroleum currently has a consensus rating of “Hold” and a consensus price target of $183.93.
Read Our Latest Stock Analysis on Marathon Petroleum
Insider Activity
In other news, Director Kim K.W. Rucker sold 7,392 shares of the company’s stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the sale, the director directly owned 18,944 shares in the company, valued at approximately $3,315,200. This represents a 28.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.21% of the company’s stock.
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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