MQS Management LLC Raises Stock Position in Marathon Petroleum Corporation $MPC

MQS Management LLC grew its holdings in Marathon Petroleum Corporation (NYSE:MPC) by 35.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,641 shares of the oil and gas company’s stock after purchasing an additional 2,020 shares during the quarter. Marathon Petroleum makes up approximately 0.7% of MQS Management LLC’s holdings, making the stock its 7th biggest holding. MQS Management LLC’s holdings in Marathon Petroleum were worth $1,243,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of MPC. Assenagon Asset Management S.A. boosted its stake in shares of Marathon Petroleum by 332.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 320,499 shares of the oil and gas company’s stock valued at $52,123,000 after purchasing an additional 246,384 shares during the last quarter. Merewether Investment Management LP bought a new position in shares of Marathon Petroleum in the 2nd quarter valued at about $35,548,000. Amundi boosted its stake in shares of Marathon Petroleum by 11.8% in the 3rd quarter. Amundi now owns 1,626,862 shares of the oil and gas company’s stock valued at $314,830,000 after purchasing an additional 172,172 shares during the last quarter. Boston Partners boosted its stake in shares of Marathon Petroleum by 2.3% in the 3rd quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company’s stock valued at $1,214,522,000 after purchasing an additional 141,691 shares during the last quarter. Finally, Credit Agricole S A bought a new position in shares of Marathon Petroleum in the 3rd quarter valued at about $20,370,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of NYSE:MPC opened at $255.22 on Friday. The company has a market capitalization of $74.51 billion, a price-to-earnings ratio of 16.66, a P/E/G ratio of 0.33 and a beta of 0.53. The firm’s 50 day simple moving average is $238.34 and its 200 day simple moving average is $205.61. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.18 and a quick ratio of 0.73. Marathon Petroleum Corporation has a fifty-two week low of $155.93 and a fifty-two week high of $264.14.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.91. The business had revenue of $34.20 billion for the quarter, compared to the consensus estimate of $33.42 billion. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. Marathon Petroleum’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period last year, the company posted ($0.24) EPS. As a group, sell-side analysts forecast that Marathon Petroleum Corporation will post 29.67 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.6%. The ex-dividend date is Wednesday, May 20th. Marathon Petroleum’s dividend payout ratio (DPR) is 26.11%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MPC. TD Cowen raised their target price on shares of Marathon Petroleum to $320.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. The Goldman Sachs Group increased their price target on shares of Marathon Petroleum from $264.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Jefferies Financial Group increased their price target on shares of Marathon Petroleum from $263.00 to $279.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Piper Sandler increased their price target on shares of Marathon Petroleum from $197.00 to $228.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. Finally, Wall Street Zen upgraded shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and an average target price of $259.44.

Insider Buying and Selling

In other Marathon Petroleum news, insider Ricky D. Hessling sold 1,626 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $228.18, for a total transaction of $371,020.68. Following the sale, the insider directly owned 7,525 shares in the company, valued at approximately $1,717,054.50. This trade represents a 17.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 4,473 shares of company stock worth $1,015,428. Company insiders own 0.17% of the company’s stock.

Marathon Petroleum Company Profile

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.