30,603 Shares in Marathon Petroleum Corporation $MPC Bought by ABC Arbitrage SA

Key Points

• ABC Arbitrage SA opened a new position in Marathon Petroleum, buying 30,603 shares worth about $4.98 million in the fourth quarter.
• Marathon Petroleum reported strong quarterly results, with EPS of $1.65 beating estimates of $0.74 and revenue of $34.2 billion, up 8.5% year over year.
• The company also announced a quarterly dividend of $1.00 per share, implying a 1.6% yield, while analysts currently have a Moderate Buy consensus and an average price target of $257.25.

ABC Arbitrage SA acquired a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 30,603 shares of the oil and gas company's stock, valued at approximately $4,977,000.

A number of other hedge funds have also recently modified their holdings of MPC. swisspartners Advisors Ltd boosted its position in shares of Marathon Petroleum by 1.3% in the 4th quarter. swisspartners Advisors Ltd now owns 20,260 shares of the oil and gas company's stock worth $3,291,000 after purchasing an additional 260 shares in the last quarter. AG2R LA Mondiale Gestion D Actifs boosted its holdings in Marathon Petroleum by 5.6% in the fourth quarter. AG2R LA Mondiale Gestion D Actifs now owns 43,952 shares of the oil and gas company's stock worth $7,148,000 after acquiring an additional 2,343 shares in the last quarter. Swiss Life Asset Management Ltd grew its stake in shares of Marathon Petroleum by 13.8% in the fourth quarter. Swiss Life Asset Management Ltd now owns 49,710 shares of the oil and gas company's stock worth $8,084,000 after acquiring an additional 6,035 shares during the last quarter. Shoker Investment Counsel Inc. increased its holdings in shares of Marathon Petroleum by 0.4% during the fourth quarter. Shoker Investment Counsel Inc. now owns 32,014 shares of the oil and gas company's stock valued at $5,207,000 after acquiring an additional 126 shares in the last quarter. Finally, Pure Financial Advisors LLC increased its holdings in shares of Marathon Petroleum by 4.6% during the fourth quarter. Pure Financial Advisors LLC now owns 4,527 shares of the oil and gas company's stock valued at $736,000 after acquiring an additional 198 shares in the last quarter. Institutional investors own 76.77% of the company's stock.

Insiders Place Their Bets

In related news, insider Ricky D. Hessling sold 1,626 shares of the business's stock in a transaction on Friday, March 13th. The shares were sold at an average price of $228.18, for a total value of $371,020.68. Following the sale, the insider owned 7,525 shares in the company, valued at approximately $1,717,054.50. The trade was a 17.77% 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 have sold a total of 4,473 shares of company stock valued at $1,015,428 in the last quarter. Insiders own 0.17% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MPC. BMO Capital Markets upped their price target on shares of Marathon Petroleum from $230.00 to $255.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 7th. Morgan Stanley raised their price objective on shares of Marathon Petroleum from $200.00 to $233.00 and gave the company an "overweight" rating in a research note on Friday, April 24th. Zacks Research upgraded shares of Marathon Petroleum from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 7th. Mizuho increased their price target on shares of Marathon Petroleum from $205.00 to $224.00 and gave the company a "neutral" rating in a report on Tuesday, March 17th. Finally, UBS Group set a $285.00 price target on shares of Marathon Petroleum in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $257.25.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $252.22 on Tuesday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.73 and a current ratio of 1.18. The stock has a 50-day simple moving average of $231.29 and a two-hundred day simple moving average of $201.89. The firm has a market capitalization of $73.63 billion, a PE ratio of 16.46, a P/E/G ratio of 0.33 and a beta of 0.53. Marathon Petroleum Corporation has a 52-week low of $154.65 and a 52-week high of $261.61.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.91. Marathon Petroleum had a net margin of 3.36% and a return on equity of 16.22%. The firm had revenue of $34.20 billion during the quarter, compared to analysts' expectations of $33.42 billion. During the same period in the prior year, the company posted ($0.24) earnings per share. The company's revenue for the quarter was up 8.5% compared to the same quarter last year. Analysts forecast that Marathon Petroleum Corporation will post 28.83 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.6%. The ex-dividend date is Wednesday, May 20th. Marathon Petroleum's dividend payout ratio (DPR) is currently 26.11%.

Marathon Petroleum Profile

Marathon Petroleum Corporation NYSE: MPC is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum's operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.

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