Interval Partners LP Buys Shares of 28,780 Marathon Petroleum Corporation $MPC

Key Points

• Interval Partners LP acquired 28,780 shares of Marathon Petroleum Corporation, valued at approximately $4.19 million, during the first quarter of this year.
• Multiple institutional investors increased their stakes in Marathon Petroleum, with Vanguard Group raising its holdings by 12.3% to over 34 million shares, indicating strong interest in the company.
• Marathon Petroleum announced a quarterly dividend of $0.91 per share, set to be paid on September 10th, representing a 2.0% yield.

Interval Partners LP acquired a new stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 28,780 shares of the oil and gas company's stock, valued at approximately $4,193,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MPC. Brighton Jones LLC increased its holdings in 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 purchasing an additional 1,178 shares in the last quarter. GHE LLC boosted its position in shares of Marathon Petroleum by 1.8% during the fourth quarter. GHE LLC now owns 38,572 shares of the oil and gas company's stock valued at $5,381,000 after buying an additional 665 shares during the last quarter. Benjamin Edwards Inc. grew its holdings in Marathon Petroleum by 1.9% during the fourth quarter. Benjamin Edwards Inc. now owns 5,021 shares of the oil and gas company's stock worth $700,000 after buying an additional 94 shares in the last quarter. Colonial Trust Co SC raised its position in Marathon Petroleum by 14.0% in the 4th quarter. Colonial Trust Co SC now owns 1,568 shares of the oil and gas company's stock valued at $219,000 after buying an additional 192 shares during the last quarter. Finally, EP Wealth Advisors LLC lifted its stake in Marathon Petroleum by 11.2% during the 4th quarter. EP Wealth Advisors LLC now owns 21,314 shares of the oil and gas company's stock valued at $2,973,000 after acquiring an additional 2,143 shares in the last quarter. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Stock Performance

NYSE MPC traded up $1.90 on Tuesday, hitting $183.09. 2,307,698 shares of the stock traded hands, compared to its average volume of 2,578,504. The firm has a market capitalization of $55.66 billion, a price-to-earnings ratio of 27.16, a PEG ratio of 3.64 and a beta of 0.97. The business's fifty day moving average is $172.04 and its two-hundred day moving average is $156.36. 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 12 month low of $115.10 and a 12 month high of $186.28.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%.The company had revenue of $34.10 billion during the quarter, compared to the consensus estimate of $31.70 billion. During the same quarter in the prior year, the company earned $4.12 EPS. The firm's quarterly revenue was down 11.1% compared to the same quarter last year. As a group, equities analysts anticipate that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MPC. TD Cowen reduced their target price on shares of Marathon Petroleum from $190.00 to $182.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Citigroup increased their target price on shares of Marathon Petroleum from $144.00 to $182.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. UBS Group increased their target price on shares of Marathon Petroleum from $175.00 to $203.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Wall Street Zen upgraded shares of Marathon Petroleum from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Wolfe Research downgraded shares of Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. Eight research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $186.50.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the business's stock in a transaction on Thursday, July 3rd. The shares were 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 of the company's stock, valued at $3,315,200. The trade was a 28.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Molly R. Benson sold 10,879 shares of the business's stock in a transaction on 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 sale, the insider directly owned 28,700 shares in the company, valued at $4,678,100. The trade was 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 company insiders.

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.