Bornite Capital Management LP Takes $34.88 Million Position in Marathon Petroleum Co. (NYSE:MPC)

Bornite Capital Management LP bought a new stake in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 250,000 shares of the oil and gas company's stock, valued at approximately $34,875,000. Marathon Petroleum accounts for approximately 4.7% of Bornite Capital Management LP's investment portfolio, making the stock its 7th biggest holding. Bornite Capital Management LP owned about 0.08% of Marathon Petroleum at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Kohmann Bosshard Financial Services LLC acquired a new stake in Marathon Petroleum during the fourth quarter worth $27,000. Asset Planning Inc acquired a new position in shares of Marathon Petroleum in the 4th quarter worth approximately $28,000. Sierra Ocean LLC acquired a new stake in Marathon Petroleum in the 4th quarter valued at $31,000. Cape Investment Advisory Inc. grew 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 valued at $42,000 after acquiring an additional 267 shares during the period. Finally, OFI Invest Asset Management bought a new position in shares of Marathon Petroleum during the fourth quarter valued at $44,000. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Trading Up 0.2 %

Shares of NYSE:MPC traded up $0.30 during mid-day trading on Monday, reaching $121.37. The stock had a trading volume of 4,922,313 shares, compared to its average volume of 2,661,909. The firm has a 50 day simple moving average of $147.41 and a two-hundred day simple moving average of $150.58. Marathon Petroleum Co. has a twelve month low of $112.74 and a twelve month high of $219.74. The firm has a market cap of $37.81 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 3.11 and a beta of 1.04. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94.

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Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.06 by $0.71. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The business had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $31.94 billion. During the same quarter last year, the business posted $3.98 EPS. The firm's revenue was down 9.1% compared to the same quarter last year. On average, research analysts predict that Marathon Petroleum Co. will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 19th were paid a dividend of $0.91 per share. The ex-dividend date was Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a yield of 3.00%. Marathon Petroleum's payout ratio is 36.66%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on MPC shares. Raymond James reiterated a "strong-buy" rating and set a $193.00 target price on shares of Marathon Petroleum in a research report on Thursday, March 27th. Barclays lifted their price objective on Marathon Petroleum from $159.00 to $161.00 and gave the company an "overweight" rating in a research report on Friday, March 14th. Piper Sandler decreased their target price on Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. Wells Fargo & Company upped their price target on shares of Marathon Petroleum from $183.00 to $185.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Finally, Tudor Pickering upgraded shares of Marathon Petroleum from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 4th. 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 issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $180.29.

Insiders Place Their Bets

In other Marathon Petroleum news, insider Ricky D. Hessling purchased 2,000 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was bought at an average cost of $134.72 per share, with a total value of $269,440.00. Following the purchase, the insider now directly owns 12,162 shares of the company's stock, valued at $1,638,464.64. The trade was a 19.68 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Evan Bayh bought 1,000 shares of Marathon Petroleum stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired 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 $9,266,078.50. The trade was a 1.46 % 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 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.