Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Quadrature Capital Ltd

Quadrature Capital Ltd reduced its holdings in Marathon Petroleum Co. (NYSE:MPC) by 93.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,919 shares of the oil and gas company’s stock after selling 193,842 shares during the period. Quadrature Capital Ltd’s holdings in Marathon Petroleum were worth $1,916,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of MPC. Norges Bank purchased a new position in Marathon Petroleum in the 4th quarter worth approximately $500,685,000. Acadian Asset Management LLC grew its holdings in Marathon Petroleum by 127.0% in the 3rd quarter. Acadian Asset Management LLC now owns 1,232,706 shares of the oil and gas company’s stock valued at $186,536,000 after buying an additional 689,576 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Marathon Petroleum by 256.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 884,573 shares of the oil and gas company’s stock worth $131,235,000 after acquiring an additional 636,281 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of Marathon Petroleum by 309.9% in the 4th quarter. Schroder Investment Management Group now owns 643,590 shares of the oil and gas company’s stock worth $95,483,000 after acquiring an additional 486,573 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of Marathon Petroleum by 248.1% during the 4th quarter. International Assets Investment Management LLC now owns 608,888 shares of the oil and gas company’s stock worth $90,335,000 after acquiring an additional 433,977 shares during the period. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Up 0.4 %

Shares of MPC stock opened at $172.50 on Tuesday. Marathon Petroleum Co. has a fifty-two week low of $108.88 and a fifty-two week high of $221.11. The company has a 50 day moving average price of $184.47 and a 200 day moving average price of $174.22. The stock has a market capitalization of $60.78 billion, a P/E ratio of 8.58, a price-to-earnings-growth ratio of 1.47 and a beta of 1.45. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 1.43.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.53 by $0.25. The business had revenue of $32.71 billion during the quarter, compared to the consensus estimate of $32.07 billion. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.09 earnings per share. Equities research analysts predict that Marathon Petroleum Co. will post 19.3 EPS for the current fiscal year.

Marathon Petroleum announced that its Board of Directors has authorized a stock buyback plan on Tuesday, April 30th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to reacquire up to 7.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were given a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend was Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio is currently 16.48%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MPC shares. Tudor Pickering upgraded shares of Marathon Petroleum to a “strong-buy” rating in a research report on Thursday, May 30th. Piper Sandler cut their price target on shares of Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating for the company in a report on Friday. The Goldman Sachs Group upped their price objective on Marathon Petroleum from $175.00 to $211.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Mizuho increased their price objective on Marathon Petroleum from $200.00 to $203.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. Finally, Raymond James decreased their price target on Marathon Petroleum from $235.00 to $230.00 and set a “strong-buy” rating on the stock in a research note on Thursday, May 30th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Marathon Petroleum has an average rating of “Moderate Buy” and an average target price of $192.23.

Marathon Petroleum 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.