Adage Capital Partners GP L.L.C. Acquires 29,800 Shares of Marathon Petroleum Co. (NYSE:MPC)

Adage Capital Partners GP L.L.C. grew its stake in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 11.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 285,260 shares of the oil and gas company's stock after purchasing an additional 29,800 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.09% of Marathon Petroleum worth $39,794,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Kohmann Bosshard Financial Services LLC acquired a new stake in Marathon Petroleum in the fourth quarter worth $27,000. Asset Planning Inc bought a new position in shares of Marathon Petroleum during the fourth quarter worth about $28,000. Sierra Ocean LLC acquired a new stake in shares of Marathon Petroleum in the 4th quarter worth about $31,000. Cape Investment Advisory Inc. lifted its position 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 during the last quarter. Finally, OFI Invest Asset Management acquired a new position in Marathon Petroleum during the 4th quarter valued at about $44,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MPC. Scotiabank cut their price target on Marathon Petroleum from $169.00 to $147.00 and set a "sector outperform" rating on the stock in a report on Friday, April 11th. Piper Sandler cut their target price on Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. Wells Fargo & Company decreased their price target on Marathon Petroleum from $185.00 to $175.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Morgan Stanley cut their price objective on shares of Marathon Petroleum from $175.00 to $160.00 and set an "overweight" rating on the stock in a research note on Thursday. Finally, Barclays decreased their price objective on shares of Marathon Petroleum from $161.00 to $141.00 and set an "overweight" rating for the company in a report on Monday, April 14th. One research 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 company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $174.21.

Marathon Petroleum Trading Up 0.1 %

Shares of NYSE:MPC traded up $0.14 during mid-day trading on Monday, hitting $137.58. The stock had a trading volume of 1,868,350 shares, compared to its average volume of 2,713,743. Marathon Petroleum Co. has a 12-month low of $115.10 and a 12-month high of $201.36. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The company has a market cap of $42.86 billion, a PE ratio of 13.85, a P/E/G ratio of 3.11 and a beta of 1.04. The company's 50 day moving average is $138.67 and its 200-day moving average is $146.12.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings results 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 net margin of 2.45% and a return on equity of 12.07%. The business had revenue of $33.47 billion during the quarter, compared to analysts' expectations of $31.94 billion. During the same period last year, the company posted $3.98 earnings per share. The firm's quarterly revenue was down 9.1% compared to the same quarter last year. On average, sell-side analysts predict that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Insiders Place Their Bets

In related news, Director Evan Bayh acquired 1,000 shares of the stock in a transaction dated 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 owns 69,305 shares in the company, valued at approximately $9,266,078.50. The trade was a 1.46 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ricky D. Hessling bought 2,000 shares of Marathon Petroleum stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average price of $134.72 per share, with a total value of $269,440.00. Following the completion of the acquisition, the insider now owns 12,162 shares in the company, 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. Insiders own 0.21% of the company's stock.

About Marathon Petroleum

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.