Syon Capital LLC Raises Holdings in Marathon Petroleum Co. (NYSE:MPC)

Syon Capital LLC grew its position in Marathon Petroleum Co. (NYSE:MPC) by 24.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 16,586 shares of the oil and gas company’s stock after purchasing an additional 3,310 shares during the quarter. Syon Capital LLC’s holdings in Marathon Petroleum were worth $2,461,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in MPC. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of Marathon Petroleum in the 3rd quarter worth $109,099,000. Acadian Asset Management LLC lifted its stake in shares of Marathon Petroleum by 127.0% during the 3rd quarter. Acadian Asset Management LLC now owns 1,232,706 shares of the oil and gas company’s stock worth $186,536,000 after purchasing an additional 689,576 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Marathon Petroleum by 256.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 884,573 shares of the oil and gas company’s stock worth $131,235,000 after purchasing an additional 636,281 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Marathon Petroleum by 248.1% during the 4th quarter. International Assets Investment Management LLC now owns 608,888 shares of the oil and gas company’s stock worth $90,335,000 after purchasing an additional 433,977 shares during the last quarter. Finally, Korea Investment CORP lifted its stake in shares of Marathon Petroleum by 61.9% during the 3rd quarter. Korea Investment CORP now owns 662,266 shares of the oil and gas company’s stock worth $100,227,000 after purchasing an additional 253,321 shares during the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Performance

Marathon Petroleum stock traded down $1.12 during midday trading on Friday, hitting $198.39. 1,892,287 shares of the company were exchanged, compared to its average volume of 2,756,025. The firm has a market capitalization of $71.49 billion, a PE ratio of 8.48, a price-to-earnings-growth ratio of 1.62 and a beta of 1.52. Marathon Petroleum Co. has a fifty-two week low of $104.32 and a fifty-two week high of $221.11. The business has a fifty day simple moving average of $191.83 and a two-hundred day simple moving average of $166.46. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.13 and a current ratio of 1.59.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, January 30th. The oil and gas company reported $3.98 EPS for the quarter, topping the consensus estimate of $2.21 by $1.77. Marathon Petroleum had a return on equity of 30.58% and a net margin of 6.44%. The firm had revenue of $36.26 billion for the quarter, compared to analyst estimates of $34.90 billion. During the same period last year, the company earned $6.65 earnings per share. Marathon Petroleum’s revenue for the quarter was down 8.9% compared to the same quarter last year. On average, sell-side analysts forecast that Marathon Petroleum Co. will post 20.49 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be issued a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Wednesday, May 15th. Marathon Petroleum’s payout ratio is currently 14.02%.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $170.35, for a total value of $170,350.00. Following the sale, the director now directly owns 23,446 shares of the company’s stock, valued at $3,994,026.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.21% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MPC. JPMorgan Chase & Co. upped their price objective on Marathon Petroleum from $172.00 to $186.00 and gave the stock a “neutral” rating in a research note on Monday, April 1st. Mizuho upped their price objective on Marathon Petroleum from $201.00 to $202.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Piper Sandler increased their price target on Marathon Petroleum from $159.00 to $204.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. TD Cowen increased their price target on Marathon Petroleum from $168.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Finally, Barclays increased their price target on Marathon Petroleum from $168.00 to $221.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus target price of $193.77.

Marathon Petroleum 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.