Aigen Investment Management LP Invests $2.37 Million in Marathon Petroleum Corporation $MPC

Key Points

• Aigen Investment Management opened a new position in Marathon Petroleum, buying 14,565 shares worth about $2.37 million in the fourth quarter.
• Institutional ownership remains very high, with hedge funds and other institutions holding 76.77% of MPC shares. Several large investors also added to or initiated positions recently.
• Analysts remain constructive on Marathon Petroleum: recent target hikes from firms like Bank of America, Morgan Stanley, Raymond James, and Wells Fargo have helped keep the stock at a Moderate Buy consensus with an average price target of $272.94.

Aigen Investment Management LP acquired a new position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 14,565 shares of the oil and gas company's stock, valued at approximately $2,369,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its holdings in shares of Marathon Petroleum by 0.3% in the 4th quarter. State Street Corp now owns 17,934,327 shares of the oil and gas company's stock worth $2,916,660,000 after purchasing an additional 47,896 shares in the last quarter. Boston Partners boosted its holdings in shares of Marathon Petroleum by 2.3% in the 3rd quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company's stock worth $1,214,522,000 after purchasing an additional 141,691 shares in the last quarter. Norges Bank bought a new stake in shares of Marathon Petroleum in the 4th quarter valued at about $472,312,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Marathon Petroleum by 0.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,818,361 shares of the oil and gas company's stock valued at $458,350,000 after acquiring an additional 11,693 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Marathon Petroleum by 2.0% in the 3rd quarter. Legal & General Group Plc now owns 1,861,020 shares of the oil and gas company's stock valued at $358,693,000 after acquiring an additional 35,847 shares during the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the completion of the transaction, the vice president owned 16,900 shares of the company's stock, valued at approximately $4,543,058. This represents a 27.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.17% of the company's stock.

Wall Street Analyst Weigh In

MPC has been the subject of a number of recent research reports. Bank of America boosted their target price on Marathon Petroleum from $224.00 to $260.00 in a research note on Tuesday, May 26th. Zacks Research raised Marathon Petroleum from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 7th. Morgan Stanley boosted their target price on Marathon Petroleum from $233.00 to $265.00 and gave the company an "overweight" rating in a research note on Friday. Weiss Ratings lowered Marathon Petroleum from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 6th. Finally, Raymond James Financial boosted their target price on Marathon Petroleum from $285.00 to $300.00 and gave the company an "outperform" rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $272.94.

Marathon Petroleum News Roundup

Here are the key news stories impacting Marathon Petroleum this week:

• Positive Sentiment: Marathon Petroleum was added to the Dow Jones Best-in-Class Indices after earning a top-quartile ESG score in the S&P Global Corporate Sustainability Assessment, which can support demand from sustainability-focused investors. Marathon Petroleum Named to Dow Jones Best-in-Class Indices
• Positive Sentiment: Wells Fargo raised its price target on MPC to $344 from $335, signaling continued analyst confidence and implying meaningful upside from current levels. Wells Fargo adjusts Marathon Petroleum price target
• Positive Sentiment: Zacks added MPC to its Rank #1 (Strong Buy) growth stocks list, reinforcing the view that the company remains attractive for growth and momentum investors. Best Growth Stocks to Buy for June 12th
• Positive Sentiment: Another Zacks note highlighted MPC as a strong momentum stock, which may be helping traders bid the shares higher in the near term. What Makes Marathon Petroleum (MPC) a Strong Momentum Stock: Buy Now?
• Neutral Sentiment: Investor commentary across several articles argued that MPC screens as a potentially attractive buy based on valuation and refining fundamentals, but these pieces were opinion-driven rather than new company-specific announcements. Is Marathon Petroleum Corporation (MPC) A Good Stock To Buy Now?

Marathon Petroleum Trading Up 0.9%

MPC opened at $263.10 on Friday. Marathon Petroleum Corporation has a one year low of $158.00 and a one year high of $272.46. The firm has a market capitalization of $76.81 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 0.41 and a beta of 0.52. The business has a 50 day simple moving average of $244.57 and a two-hundred day simple moving average of $212.40. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.18 and a quick ratio of 0.73.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The firm had revenue of $34.20 billion during the quarter, compared to analyst estimates of $33.42 billion. During the same quarter in the prior year, the company earned ($0.24) EPS. The business's revenue was up 8.5% compared to the same quarter last year. Analysts predict that Marathon Petroleum Corporation will post 31.05 EPS for the current year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were given a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $4.00 annualized dividend and a dividend yield of 1.5%. Marathon Petroleum's dividend payout ratio is currently 26.11%.

Marathon Petroleum Company 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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