Castleark Management LLC Buys 87,150 Shares of Marathon Petroleum Co. (NYSE:MPC)

Castleark Management LLC increased its holdings in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 775.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 98,389 shares of the oil and gas company's stock after acquiring an additional 87,150 shares during the period. Castleark Management LLC's holdings in Marathon Petroleum were worth $13,725,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Marathon Petroleum during the fourth quarter worth $27,000. Asset Planning Inc purchased a new stake in shares of Marathon Petroleum in the fourth quarter valued at approximately $28,000. Sierra Ocean LLC acquired a new position in shares of Marathon Petroleum during the 4th quarter worth about $31,000. Cape Investment Advisory Inc. boosted its stake in Marathon Petroleum by 762.9% during the 4th quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company's stock worth $42,000 after purchasing an additional 267 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new position in Marathon Petroleum during the fourth quarter worth approximately $44,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MPC. TD Cowen lifted their target price on shares of Marathon Petroleum from $142.00 to $152.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Wells Fargo & Company increased their price target on shares of Marathon Petroleum from $175.00 to $180.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 13th. Tudor Pickering upgraded shares of Marathon Petroleum from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 4th. Morgan Stanley lowered their target price on shares of Marathon Petroleum from $175.00 to $160.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Finally, Piper Sandler reduced their target price on Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $175.29.

Insider Activity at Marathon Petroleum

In other news, insider Ricky D. Hessling purchased 2,000 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average cost of $134.72 per share, for a total transaction of $269,440.00. Following the transaction, the insider now directly owns 12,162 shares of the company's stock, valued at approximately $1,638,464.64. The trade was a 19.68% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Evan Bayh bought 1,000 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was acquired at an average cost of $133.70 per share, with a total value of $133,700.00. Following the completion of the purchase, the director now owns 69,305 shares of the company's stock, valued at approximately $9,266,078.50. This trade represents a 1.46% increase in their position. The disclosure for this purchase can be found here. 0.25% of the stock is currently owned by company insiders.

Marathon Petroleum Trading Down 0.5%

Shares of NYSE MPC opened at $161.46 on Wednesday. The business has a 50-day moving average price of $140.75 and a two-hundred day moving average price of $145.81. The firm has a market capitalization of $49.60 billion, a PE ratio of 16.26, a PEG ratio of 3.11 and a beta of 0.87. Marathon Petroleum Co. has a one year low of $115.10 and a one year high of $183.31. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, topping analysts' consensus estimates of ($0.40) by $0.16. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The firm had revenue of $31.85 billion during the quarter, compared to analyst estimates of $28.91 billion. During the same quarter in the previous year, the business earned $2.58 EPS. The business's revenue was down 4.1% on a year-over-year basis. As a group, analysts predict that Marathon Petroleum Co. 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 Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a dividend of $0.91 per share. The ex-dividend date is Wednesday, May 21st. This represents a $3.64 dividend on an annualized basis and a yield of 2.25%. Marathon Petroleum's dividend payout ratio is 51.20%.

Marathon Petroleum Company Profile

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.

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