Marathon Petroleum Corporation $MPC Shares Purchased by Martingale Asset Management L P

Martingale Asset Management L P increased its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 22.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 124,244 shares of the oil and gas company’s stock after purchasing an additional 22,784 shares during the quarter. Martingale Asset Management L P’s holdings in Marathon Petroleum were worth $20,206,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of MPC. Norges Bank acquired a new stake in shares of Marathon Petroleum during the fourth quarter worth $472,312,000. Capital Wealth Planning LLC lifted its holdings in shares of Marathon Petroleum by 49,392.0% during the fourth quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock worth $245,157,000 after purchasing an additional 1,495,097 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Marathon Petroleum by 332.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 320,499 shares of the oil and gas company’s stock worth $52,123,000 after purchasing an additional 246,384 shares during the period. Lord Abbett & CO. LLC lifted its holdings in shares of Marathon Petroleum by 61.1% during the fourth quarter. Lord Abbett & CO. LLC now owns 564,670 shares of the oil and gas company’s stock worth $91,832,000 after purchasing an additional 214,224 shares during the period. Finally, Merewether Investment Management LP acquired a new stake in shares of Marathon Petroleum during the second quarter worth $35,548,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Marathon Petroleum

In other news, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the completion of the transaction, the vice president owned 16,900 shares in the company, valued at $4,543,058. This trade represents a 27.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.17% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on MPC. Piper Sandler increased their price target on Marathon Petroleum from $197.00 to $228.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Citigroup increased their price target on Marathon Petroleum from $243.00 to $257.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Morgan Stanley raised their target price on Marathon Petroleum from $233.00 to $265.00 and gave the company an “overweight” rating in a report on Friday. TD Cowen raised their target price on Marathon Petroleum to $320.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Marathon Petroleum in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus price target of $272.94.

Trending Headlines about Marathon Petroleum

Here are the key news stories impacting Marathon Petroleum this week:

• Positive Sentiment: Marathon Petroleum was added to the Dow Jones Best-in-Class Indices after earning a top-quartile ESG score in the S&P Global Corporate Sustainability Assessment, which can support demand from sustainability-focused investors. Marathon Petroleum Named to Dow Jones Best-in-Class Indices
• Positive Sentiment: Wells Fargo raised its price target on MPC to $344 from $335, signaling continued analyst confidence and implying meaningful upside from current levels. Wells Fargo adjusts Marathon Petroleum price target
• Positive Sentiment: Zacks added MPC to its Rank #1 (Strong Buy) growth stocks list, reinforcing the view that the company remains attractive for growth and momentum investors. Best Growth Stocks to Buy for June 12th
• Positive Sentiment: Another Zacks note highlighted MPC as a strong momentum stock, which may be helping traders bid the shares higher in the near term. What Makes Marathon Petroleum (MPC) a Strong Momentum Stock: Buy Now?
• Neutral Sentiment: Investor commentary across several articles argued that MPC screens as a potentially attractive buy based on valuation and refining fundamentals, but these pieces were opinion-driven rather than new company-specific announcements. Is Marathon Petroleum Corporation (MPC) A Good Stock To Buy Now?

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $263.10 on Friday. Marathon Petroleum Corporation has a one year low of $158.00 and a one year high of $272.46. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18. The business has a fifty day moving average of $244.57 and a two-hundred day moving average of $212.40. The company has a market cap of $76.81 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 0.40 and a beta of 0.52.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.91. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The company had revenue of $34.20 billion during the quarter, compared to the consensus estimate of $33.42 billion. During the same quarter last year, the company earned ($0.24) earnings per share. Marathon Petroleum’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, analysts predict that Marathon Petroleum Corporation will post 31.05 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were issued a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $4.00 dividend on an annualized basis and a yield of 1.5%. Marathon Petroleum’s dividend payout ratio (DPR) is 26.11%.

About Marathon Petroleum

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.