Cinctive Capital Management LP Raises Position in Marathon Petroleum Corporation $MPC

Key Points

• Cinctive Capital Management LP increased its holding in Marathon Petroleum Corporation by 44.0%, resulting in a total value of approximately $9.22 million after purchasing additional shares in the first quarter.
• Analysts have raised price targets for Marathon Petroleum, with Barclays now setting a target of $189.00 and Morgan Stanley at $182.00, indicating strong market interest and confidence in the stock.
• The company announced a quarterly dividend of $0.91 per share, reflecting a 2.0% yield and a payout ratio of 54.01%, appealing to income-focused investors.

Cinctive Capital Management LP raised its position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 44.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,281 shares of the oil and gas company's stock after acquiring an additional 19,339 shares during the period. Cinctive Capital Management LP's holdings in Marathon Petroleum were worth $9,219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Fourth Dimension Wealth LLC bought a new position in Marathon Petroleum in the 4th quarter valued at $26,000. CBIZ Investment Advisory Services LLC lifted its stake in shares of Marathon Petroleum by 1,546.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company's stock worth $31,000 after purchasing an additional 201 shares during the last quarter. Hughes Financial Services LLC purchased a new stake in shares of Marathon Petroleum during the 1st quarter worth $32,000. WPG Advisers LLC purchased a new stake in shares of Marathon Petroleum during the 1st quarter worth $32,000. Finally, Decker Retirement Planning Inc. raised its stake in Marathon Petroleum by 1,621.4% in the first quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock valued at $35,000 after buying an additional 227 shares during the last quarter. Institutional investors own 76.77% of the company's stock.

Insiders Place Their Bets

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the 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 sale, the director owned 18,944 shares in the company, valued at approximately $3,315,200. This represents a 28.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Molly R. Benson sold 10,879 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $163.00, for a total value of $1,773,277.00. Following the sale, the insider owned 28,700 shares in the company, valued at approximately $4,678,100. This trade represents a 27.49% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MPC. Piper Sandler increased their price objective on Marathon Petroleum from $175.00 to $182.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Bank of America raised their target price on Marathon Petroleum from $184.00 to $192.00 and gave the company a "neutral" rating in a research report on Wednesday, September 3rd. UBS Group lifted their price objective on Marathon Petroleum from $175.00 to $203.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Wells Fargo & Company lifted their price objective on Marathon Petroleum from $182.00 to $205.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, Morgan Stanley lifted their target price on Marathon Petroleum from $160.00 to $182.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Eight research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Marathon Petroleum has an average rating of "Hold" and a consensus target price of $186.57.

Marathon Petroleum Stock Performance

MPC traded up $0.70 on Monday, hitting $180.98. 2,006,740 shares of the company traded hands, compared to its average volume of 2,580,094. The company has a 50 day moving average of $171.74 and a 200-day moving average of $156.17. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $55.02 billion, a PE ratio of 26.85, a PEG ratio of 3.64 and a beta of 0.97. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $183.50.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued 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. The business had revenue of $34.10 billion during the quarter, compared to the consensus estimate of $31.70 billion. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The company's revenue for the quarter was down 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $4.12 EPS. Sell-side analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

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

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.