GAMMA Investing LLC Acquires 1,530,737 Shares of Marathon Petroleum Co. (NYSE:MPC)

GAMMA Investing LLC boosted its holdings in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 14,969.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,540,963 shares of the oil and gas company's stock after acquiring an additional 1,530,737 shares during the period. GAMMA Investing LLC owned approximately 0.49% of Marathon Petroleum worth $224,503,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Brighton Jones LLC grew its stake in shares of Marathon Petroleum by 30.9% during the 4th quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company's stock worth $696,000 after acquiring an additional 1,178 shares in the last quarter. Mediolanum International Funds Ltd grew its position in Marathon Petroleum by 18.1% in the fourth quarter. Mediolanum International Funds Ltd now owns 59,740 shares of the oil and gas company's stock valued at $8,081,000 after purchasing an additional 9,139 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in Marathon Petroleum in the 4th quarter valued at $601,000. Everett Harris & Co. CA lifted its position in Marathon Petroleum by 19.6% during the 4th quarter. Everett Harris & Co. CA now owns 1,752 shares of the oil and gas company's stock worth $244,000 after buying an additional 287 shares in the last quarter. Finally, Waldron Private Wealth LLC boosted its stake in shares of Marathon Petroleum by 2.3% during the 4th quarter. Waldron Private Wealth LLC now owns 4,183 shares of the oil and gas company's stock worth $584,000 after buying an additional 95 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Trading Up 1.1%

Shares of Marathon Petroleum stock traded up $1.73 during midday trading on Thursday, reaching $158.68. 339,402 shares of the company's stock traded hands, compared to its average volume of 2,808,800. Marathon Petroleum Co. has a 12 month low of $115.10 and a 12 month high of $183.31. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The stock has a 50 day moving average of $143.35 and a 200-day moving average of $146.25. The company has a market cap of $48.75 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 3.11 and a beta of 0.87.

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. The firm had revenue of $31.85 billion for the quarter, compared to the consensus estimate of $28.91 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The company's revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.58 EPS. As a group, equities analysts expect that Marathon Petroleum Co. will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Wednesday, May 21st. Marathon Petroleum's payout ratio is currently 51.20%.

Insiders Place Their Bets

In other Marathon Petroleum news, insider Ricky D. Hessling purchased 2,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average cost of $134.72 per share, with a total value of $269,440.00. Following the acquisition, the insider now owns 12,162 shares in the company, valued at approximately $1,638,464.64. This trade represents a 19.68% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Mizuho boosted their target price on shares of Marathon Petroleum from $168.00 to $184.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Raymond James dropped their target price on shares of Marathon Petroleum from $193.00 to $183.00 and set a "strong-buy" rating on the stock in a report on Wednesday, April 9th. Wells Fargo & Company lifted their price target on Marathon Petroleum from $175.00 to $180.00 and gave the stock an "overweight" rating in a report on Tuesday, May 13th. Piper Sandler decreased their target price on Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. Finally, Wall Street Zen upgraded Marathon Petroleum from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $175.29.

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.