Intact Investment Management Inc. lifted its holdings in Marathon Petroleum Corp (NYSE:MPC) by 16.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 76,200 shares of the oil and gas company’s stock after acquiring an additional 10,700 shares during the period. Intact Investment Management Inc.’s holdings in Marathon Petroleum were worth $4,590,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. Lloyd Advisory Services LLC. bought a new position in shares of Marathon Petroleum in the fourth quarter worth about $28,000. Simon Quick Advisors LLC bought a new position in shares of Marathon Petroleum in the fourth quarter worth about $29,000. Allworth Financial LP lifted its holdings in shares of Marathon Petroleum by 52.3% in the fourth quarter. Allworth Financial LP now owns 609 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 209 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its holdings in shares of Marathon Petroleum by 122.6% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 592 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 326 shares during the last quarter. Finally, Atlas Private Wealth Management bought a new position in shares of Marathon Petroleum in the fourth quarter worth about $37,000. Institutional investors and hedge funds own 77.47% of the company’s stock.
MPC has been the subject of a number of research reports. Credit Suisse Group increased their target price on shares of Marathon Petroleum from to and gave the stock an “outperform” rating in a report on Friday, February 21st. Piper Sandler lowered their price objective on Marathon Petroleum from $82.00 to $74.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Marathon Petroleum in a research note on Wednesday, March 18th. Zacks Investment Research raised Marathon Petroleum from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research note on Monday, December 16th. Finally, Cowen upped their price objective on Marathon Petroleum from $69.00 to $72.00 and gave the company a “market perform” rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $65.33.
Shares of Marathon Petroleum stock traded up $2.05 on Thursday, hitting $23.17. The stock had a trading volume of 2,516,618 shares, compared to its average volume of 14,135,445. The stock has a 50 day moving average of $43.10 and a 200 day moving average of $55.91. Marathon Petroleum Corp has a twelve month low of $15.26 and a twelve month high of $69.65. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.61 and a current ratio of 1.25. The firm has a market capitalization of $11.37 billion, a P/E ratio of 5.81, a PEG ratio of 0.41 and a beta of 1.65.
Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Wednesday, January 29th. The oil and gas company reported $1.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.71. The company had revenue of $31.38 billion during the quarter, compared to the consensus estimate of $30.07 billion. Marathon Petroleum had a return on equity of 7.45% and a net margin of 2.11%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.41 earnings per share. Equities analysts expect that Marathon Petroleum Corp will post 3.27 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 19th were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 10.02%. The ex-dividend date of this dividend was Tuesday, February 18th. This is an increase from Marathon Petroleum’s previous quarterly dividend of $0.53. Marathon Petroleum’s dividend payout ratio is currently 46.96%.
About Marathon Petroleum
Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.
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