Edgestream Partners L.P. Boosts Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

Edgestream Partners L.P. boosted its holdings in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 28.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,162 shares of the oil and gas company's stock after buying an additional 4,665 shares during the period. Edgestream Partners L.P.'s holdings in Marathon Petroleum were worth $2,952,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of MPC. Gladius Capital Management LP purchased a new position in Marathon Petroleum in the 3rd quarter valued at approximately $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in Marathon Petroleum in the 4th quarter valued at approximately $27,000. MeadowBrook Investment Advisors LLC grew its stake in Marathon Petroleum by 88.9% in the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company's stock valued at $28,000 after buying an additional 80 shares in the last quarter. True Wealth Design LLC grew its stake in Marathon Petroleum by 672.7% in the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company's stock valued at $28,000 after buying an additional 148 shares in the last quarter. Finally, Asset Planning Inc purchased a new position in Marathon Petroleum in the 4th quarter valued at approximately $28,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MPC has been the subject of a number of recent research reports. Mizuho reduced their price objective on shares of Marathon Petroleum from $175.00 to $174.00 and set a "neutral" rating for the company in a research note on Monday, December 16th. Barclays reduced their price target on shares of Marathon Petroleum from $168.00 to $159.00 and set an "overweight" rating for the company in a research report on Monday, November 11th. Raymond James boosted their price target on shares of Marathon Petroleum from $190.00 to $192.00 and gave the company a "strong-buy" rating in a research report on Friday, January 17th. 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. Finally, TD Cowen restated a "buy" rating and set a $170.00 price target on shares of Marathon Petroleum in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Marathon Petroleum has a consensus rating of "Moderate Buy" and a consensus price target of $182.00.

Remove Ads

Marathon Petroleum Price Performance

Shares of NYSE MPC traded down $1.33 during mid-day trading on Monday, reaching $136.22. 2,795,628 shares of the company were exchanged, compared to its average volume of 2,516,303. The stock has a market capitalization of $42.58 billion, a PE ratio of 13.72, a PEG ratio of 3.11 and a beta of 1.39. The company's 50 day moving average price is $148.61 and its 200 day moving average price is $154.16. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a 52 week low of $130.54 and a 52 week high of $221.11.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.71. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The company had revenue of $33.47 billion for the quarter, compared to analysts' expectations of $31.94 billion. During the same quarter in the previous year, the company earned $3.98 earnings per share. Marathon Petroleum's quarterly revenue was down 9.1% on a year-over-year basis. Sell-side analysts forecast that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Wednesday, February 19th. Marathon Petroleum's dividend payout ratio is currently 36.66%.

Insiders Place Their Bets

In other Marathon Petroleum news, Director Evan Bayh acquired 1,000 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were acquired at an average price of $133.70 per share, for a total transaction of $133,700.00. Following the completion of the acquisition, the director now owns 69,305 shares in the company, valued at $9,266,078.50. This trade represents a 1.46 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.