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25,470 Shares in Marathon Petroleum Corporation (NYSE:MPC) Purchased by Mizuho Markets Americas LLC

Marathon Petroleum logo with Energy background

Key Points

  • Mizuho Markets Americas LLC acquired 25,470 shares of Marathon Petroleum Corporation, valued at approximately $3.71 million, marking a significant new position in the first quarter.
  • The company recently reported a $3.96 EPS for the quarter, exceeding analysts' expectations, alongside a revenue of $34.10 billion, though this represented an 11.1% decline from the previous year.
  • Marathon Petroleum has an average target price of $185.29 with mixed ratings from analysts, including eight buy ratings and one sell rating.
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Mizuho Markets Americas LLC purchased a new position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 25,470 shares of the oil and gas company's stock, valued at approximately $3,711,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Frank Rimerman Advisors LLC grew its position in Marathon Petroleum by 2.3% in the first quarter. Frank Rimerman Advisors LLC now owns 5,452 shares of the oil and gas company's stock worth $794,000 after acquiring an additional 120 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Marathon Petroleum by 314.4% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,365 shares of the oil and gas company's stock valued at $1,364,000 after buying an additional 7,105 shares during the period. Cynosure Group LLC boosted its position in shares of Marathon Petroleum by 11.3% during the first quarter. Cynosure Group LLC now owns 7,624 shares of the oil and gas company's stock valued at $1,111,000 after buying an additional 771 shares during the period. Zions Bancorporation National Association UT purchased a new position in shares of Marathon Petroleum during the first quarter valued at approximately $273,000. Finally, Townsquare Capital LLC boosted its position in shares of Marathon Petroleum by 4.3% during the first quarter. Townsquare Capital LLC now owns 50,149 shares of the oil and gas company's stock valued at $7,306,000 after buying an additional 2,072 shares during the period. Hedge funds and other institutional investors own 76.77% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on MPC. Wolfe Research lowered Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 14th. Piper Sandler boosted their target price on Marathon Petroleum from $175.00 to $182.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Wells Fargo & Company boosted their target price on Marathon Petroleum from $182.00 to $205.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Raymond James Financial restated an "outperform" rating and set a $200.00 target price (up previously from $180.00) on shares of Marathon Petroleum in a research report on Tuesday, July 15th. Finally, Dbs Bank raised shares of Marathon Petroleum to a "moderate buy" rating in a research note on Monday, July 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, Marathon Petroleum presently has an average rating of "Hold" and an average target price of $185.29.

Check Out Our Latest Analysis on Marathon Petroleum

Marathon Petroleum Stock Performance

Shares of NYSE:MPC opened at $160.95 on Friday. The company has a market capitalization of $48.93 billion, a price-to-earnings ratio of 23.88, a price-to-earnings-growth ratio of 2.81 and a beta of 0.90. Marathon Petroleum Corporation has a 52 week low of $115.10 and a 52 week high of $183.10. The company has a quick ratio of 0.73, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. The firm has a 50 day moving average of $169.25 and a 200 day moving average of $153.70.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, topping analysts' consensus estimates of $3.22 by $0.74. The company had revenue of $34.10 billion during the quarter, compared to the consensus estimate of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. Marathon Petroleum's revenue for the quarter was down 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.12 earnings per share. On average, sell-side analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.3%. Marathon Petroleum's dividend payout ratio is presently 54.01%.

Insider Activity

In other news, Director Kim K.W. Rucker sold 7,392 shares of the company's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the transaction, the director directly owned 18,944 shares of the company's stock, valued at approximately $3,315,200. This represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.21% of the company's stock.

About Marathon Petroleum

(Free Report)

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.

See Also

Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Corporation (NYSE:MPC - Free Report).

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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