Ossiam grew its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 91.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 63,516 shares of the oil and gas company’s stock after purchasing an additional 30,318 shares during the quarter. Ossiam’s holdings in Marathon Petroleum were worth $3,507,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of MPC. Clear Street Markets LLC increased its holdings in shares of Marathon Petroleum by 20.3% during the 2nd quarter. Clear Street Markets LLC now owns 69,395 shares of the oil and gas company’s stock worth $4,193,000 after acquiring an additional 11,695 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Marathon Petroleum by 13.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 42,921 shares of the oil and gas company’s stock worth $2,593,000 after acquiring an additional 5,176 shares during the last quarter. APG Asset Management N.V. increased its holdings in shares of Marathon Petroleum by 13.5% during the 1st quarter. APG Asset Management N.V. now owns 2,165,237 shares of the oil and gas company’s stock worth $98,544,000 after acquiring an additional 258,351 shares during the last quarter. Occudo Quantitative Strategies LP grew its holdings in Marathon Petroleum by 15.7% in the 1st quarter. Occudo Quantitative Strategies LP now owns 22,743 shares of the oil and gas company’s stock valued at $1,217,000 after buying an additional 3,078 shares in the last quarter. Finally, South State Corp acquired a new position in Marathon Petroleum in the 2nd quarter valued at $204,000. 76.24% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have commented on MPC. Citigroup upped their price objective on Marathon Petroleum from $67.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, October 7th. Piper Sandler upped their price objective on Marathon Petroleum from $66.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, September 16th. Morgan Stanley began coverage on Marathon Petroleum in a report on Tuesday, September 7th. They issued an “overweight” rating and a $75.00 price objective on the stock. Barclays upped their price objective on Marathon Petroleum from $63.00 to $68.00 and gave the company an “overweight” rating in a report on Thursday, October 7th. Finally, Wells Fargo & Company upped their target price on Marathon Petroleum from $66.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, June 24th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Marathon Petroleum presently has a consensus rating of “Buy” and an average target price of $70.33.
Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, August 3rd. The oil and gas company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.39 by $0.28. The firm had revenue of $29.83 billion during the quarter, compared to the consensus estimate of $21.24 billion. Marathon Petroleum had a negative return on equity of 3.09% and a net margin of 8.42%. The business’s quarterly revenue was up 142.5% on a year-over-year basis. During the same period last year, the company earned ($1.33) earnings per share. On average, sell-side analysts forecast that Marathon Petroleum Co. will post 1.26 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Wednesday, August 18th were paid a $0.58 dividend. The ex-dividend date of this dividend was Tuesday, August 17th. This represents a $2.32 annualized dividend and a dividend yield of 3.53%. Marathon Petroleum’s payout ratio is -67.44%.
About Marathon Petroleum
Marathon Petroleum Corp. is an independent company, which engages in refining, marketing, and transportation of petroleum products in the United States. Itoperates through the following segments: Refining and Marketing; Retail; and Midstream. The Refining and Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States; purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals, and trucks that the company owns or operates.
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