Point72 Europe London LLP Buys 7,584 Shares of Marathon Petroleum Co. (NYSE:MPC)

Point72 Europe London LLP boosted its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 158.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,384 shares of the oil and gas company’s stock after acquiring an additional 7,584 shares during the period. Point72 Europe London LLP’s holdings in Marathon Petroleum were worth $1,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Ratings Changes

Several analysts have issued reports on the company. Tudor Pickering upgraded Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. Mizuho increased their price target on shares of Marathon Petroleum from $168.00 to $184.00 and gave the stock a “neutral” rating in a research report on Tuesday. Morgan Stanley lowered their price objective on Marathon Petroleum from $175.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Raymond James decreased their price objective on shares of Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating for the company in a research report on Wednesday, April 9th. Finally, Piper Sandler reduced 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 report on Friday, March 7th. 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $175.29.

Marathon Petroleum Stock Performance

NYSE MPC opened at $165.47 on Friday. The stock has a market capitalization of $50.83 billion, a price-to-earnings ratio of 16.66, a PEG 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 business’s 50 day moving average is $139.17 and its two-hundred day moving average is $145.43. 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) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.16. The business had revenue of $31.85 billion during the quarter, compared to analysts’ expectations of $28.91 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter last year, the business posted $2.58 earnings per share. Research analysts expect that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be given a $0.91 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $3.64 annualized dividend and a dividend yield of 2.20%. Marathon Petroleum’s dividend payout ratio is currently 51.20%.

Insider Activity

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

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.