HBK Investments L P Invests $806,000 in Marathon Petroleum Co. (NYSE:MPC)

HBK Investments L P bought a new position in shares of Marathon Petroleum Co. (NYSE:MPCGet Rating) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 9,430 shares of the oil and gas company’s stock, valued at approximately $806,000.

Other institutional investors have also modified their holdings of the company. WINTON GROUP Ltd purchased a new position in Marathon Petroleum in the 4th quarter worth approximately $565,000. Acadian Asset Management LLC boosted its holdings in Marathon Petroleum by 91.4% in the 4th quarter. Acadian Asset Management LLC now owns 4,693 shares of the oil and gas company’s stock worth $300,000 after acquiring an additional 2,241 shares during the period. Covestor Ltd purchased a new position in Marathon Petroleum in the 4th quarter worth approximately $80,000. Candriam Luxembourg S.C.A. raised its position in shares of Marathon Petroleum by 2.5% in the 4th quarter. Candriam Luxembourg S.C.A. now owns 36,084 shares of the oil and gas company’s stock valued at $2,309,000 after purchasing an additional 867 shares in the last quarter. Finally, Prudential PLC acquired a new position in shares of Marathon Petroleum in the 4th quarter valued at approximately $1,012,000. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Insider Transactions at Marathon Petroleum

In other news, VP Carl Kristopher Hagedorn sold 14,353 shares of the stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $105.41, for a total value of $1,512,949.73. Following the completion of the transaction, the vice president now owns 7,873 shares of the company’s stock, valued at $829,892.93. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.28% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on MPC. Wells Fargo & Company cut their target price on Marathon Petroleum from $129.00 to $117.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 3rd. BMO Capital Markets began coverage on Marathon Petroleum in a research report on Monday, June 13th. They issued an “outperform” rating and a $135.00 target price on the stock. Raymond James upped their target price on Marathon Petroleum from $131.00 to $133.00 and gave the company a “strong-buy” rating in a research report on Friday. The Goldman Sachs Group lowered Marathon Petroleum from a “buy” rating to a “neutral” rating and upped their target price for the company from $90.00 to $102.00 in a research report on Monday, May 16th. Finally, Barclays upped their price target on Marathon Petroleum from $94.00 to $112.00 and gave the company an “overweight” rating in a research report on Tuesday, August 16th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $115.58.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $99.94 on Tuesday. Marathon Petroleum Co. has a 1-year low of $56.08 and a 1-year high of $114.35. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.49 and a quick ratio of 1.10. The business’s fifty day moving average price is $92.93 and its two-hundred day moving average price is $90.47. The firm has a market capitalization of $49.83 billion, a PE ratio of 6.75, a P/E/G ratio of 0.21 and a beta of 1.70.

Marathon Petroleum (NYSE:MPCGet Rating) last issued its earnings results on Tuesday, August 2nd. The oil and gas company reported $10.61 earnings per share for the quarter, topping the consensus estimate of $4.98 by $5.63. Marathon Petroleum had a return on equity of 23.85% and a net margin of 5.09%. The firm had revenue of $54.33 billion for the quarter, compared to analyst estimates of $44.26 billion. During the same period last year, the company earned $0.67 earnings per share. The firm’s revenue for the quarter was up 82.1% on a year-over-year basis. On average, research analysts expect that Marathon Petroleum Co. will post 21.11 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Wednesday, August 17th were paid a $0.58 dividend. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $2.32 annualized dividend and a dividend yield of 2.32%. Marathon Petroleum’s payout ratio is 15.68%.

Marathon Petroleum Profile

(Get Rating)

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. 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.

Further Reading

Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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