Occudo Quantitative Strategies LP Cuts Position in Marathon Petroleum Co. (NYSE:MPC)

Occudo Quantitative Strategies LP trimmed its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 68.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,724 shares of the oil and gas company’s stock after selling 19,134 shares during the quarter. Occudo Quantitative Strategies LP’s holdings in Marathon Petroleum were worth $1,217,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Marathon Petroleum during the 4th quarter valued at $27,000. Asset Planning Inc bought a new position in Marathon Petroleum during the fourth quarter valued at about $28,000. Sierra Ocean LLC purchased a new stake in Marathon Petroleum during the fourth quarter worth about $31,000. Cape Investment Advisory Inc. raised its position in Marathon Petroleum by 762.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 267 shares during the period. Finally, OFI Invest Asset Management purchased a new position in Marathon Petroleum in the fourth quarter valued at about $44,000. 76.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Evan Bayh purchased 1,000 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average price of $133.70 per share, with a total value of $133,700.00. Following the acquisition, the director now directly owns 69,305 shares of the company’s stock, valued at approximately $9,266,078.50. This represents a 1.46% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ricky D. Hessling acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were bought at an average cost of $134.72 per share, with a total value of $269,440.00. Following the completion of the acquisition, the insider now directly owns 12,162 shares in the company, valued at $1,638,464.64. The trade was a 19.68% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.21% of the company’s stock.

Marathon Petroleum Price Performance

MPC stock opened at $162.86 on Wednesday. The firm has a 50 day moving average of $138.07 and a 200-day moving average of $145.21. The firm has a market capitalization of $50.03 billion, a P/E ratio of 16.40, a price-to-earnings-growth ratio of 3.11 and a beta of 0.87. Marathon Petroleum Co. has a 12 month low of $115.10 and a 12 month high of $183.31. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.16. The firm had revenue of $31.85 billion during the quarter, compared to the consensus estimate of $28.91 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period last year, the firm earned $2.58 EPS. As a group, sell-side analysts predict that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Wednesday, May 21st. Marathon Petroleum’s payout ratio is 51.20%.

Wall Street Analyst Weigh In

MPC has been the subject of several research analyst reports. Piper Sandler decreased their price target on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Barclays raised their target price on Marathon Petroleum from $141.00 to $159.00 and gave the stock an “overweight” rating in a research report on Monday. Morgan Stanley dropped their price target on Marathon Petroleum from $175.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Mizuho increased their price target on Marathon Petroleum from $168.00 to $184.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Scotiabank lowered their price objective on Marathon Petroleum from $169.00 to $147.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and an average target price of $175.29.

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.