AlphaQuest LLC Has $106,000 Holdings in Marathon Petroleum Corporation $MPC

Key Points

• AlphaQuest LLC significantly reduced its stake in Marathon Petroleum Corporation, selling 7,014 shares and lowering its holdings by 90.6%, leaving it with only 726 shares valued at $106,000.
• Marathon Petroleum reported an earnings per share (EPS) of $3.96 for the last quarter, exceeding analysts’ expectations by $0.74, despite an 11.1% year-over-year revenue decline.
• The company announced a quarterly dividend of $0.91 per share, translating to an annualized dividend yield of 2.0%, with a payout ratio of 54.01%.

AlphaQuest LLC lowered its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 90.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 726 shares of the oil and gas company's stock after selling 7,014 shares during the period. AlphaQuest LLC's holdings in Marathon Petroleum were worth $106,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Beverly Hills Private Wealth LLC increased its position in shares of Marathon Petroleum by 1.2% in the fourth quarter. Beverly Hills Private Wealth LLC now owns 6,655 shares of the oil and gas company's stock worth $928,000 after acquiring an additional 76 shares in the last quarter. Sunpointe LLC boosted its holdings in shares of Marathon Petroleum by 5.1% during the first quarter. Sunpointe LLC now owns 1,681 shares of the oil and gas company's stock worth $245,000 after purchasing an additional 81 shares during the period. Valmark Advisers Inc. boosted its holdings in shares of Marathon Petroleum by 2.3% during the first quarter. Valmark Advisers Inc. now owns 3,801 shares of the oil and gas company's stock worth $554,000 after purchasing an additional 86 shares during the period. Southland Equity Partners LLC boosted its holdings in shares of Marathon Petroleum by 6.2% during the first quarter. Southland Equity Partners LLC now owns 1,549 shares of the oil and gas company's stock worth $226,000 after purchasing an additional 90 shares during the period. Finally, Prudent Man Advisors LLC boosted its holdings in shares of Marathon Petroleum by 2.3% during the first quarter. Prudent Man Advisors LLC now owns 4,056 shares of the oil and gas company's stock worth $591,000 after purchasing an additional 91 shares during the period. Institutional investors and hedge funds own 76.77% of the company's stock.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock traded up $1.27 on Friday, reaching $180.25. The stock had a trading volume of 1,696,253 shares, compared to its average volume of 1,719,427. The business's 50-day moving average price is $171.74 and its two-hundred day moving average price is $156.19. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 1.23. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $183.50. The stock has a market cap of $54.80 billion, a P/E ratio of 26.74, a price-to-earnings-growth ratio of 3.64 and a beta of 0.97.

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

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, August 20th. Marathon Petroleum's payout ratio is 54.01%.

Wall Street Analyst Weigh In

MPC has been the subject of several research reports. Wells Fargo & Company raised their price target on shares of Marathon Petroleum from $182.00 to $205.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Scotiabank restated an "outperform" rating on shares of Marathon Petroleum in a report on Friday, July 11th. UBS Group raised their price target on shares of Marathon Petroleum from $175.00 to $203.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. Piper Sandler lifted their target price on shares of Marathon Petroleum from $175.00 to $182.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Morgan Stanley lifted their target price on shares of Marathon Petroleum from $160.00 to $182.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Eight investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $186.57.

Insider Buying and Selling at Marathon Petroleum

In related news, insider Molly R. Benson sold 10,879 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the transaction, the insider owned 28,700 shares in the company, valued at $4,678,100. This represents a 27.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kim K.W. Rucker sold 7,392 shares of the company's stock in a transaction dated 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 owned 18,944 shares in the company, valued at approximately $3,315,200. This trade represents a 28.07% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

About Marathon Petroleum

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.