Jackson Square Capital LLC Takes $238,000 Position in Marathon Petroleum Co. (NYSE:MPC)

Jackson Square Capital LLC purchased a new position in Marathon Petroleum Co. (NYSE:MPC - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,633 shares of the oil and gas company's stock, valued at approximately $238,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Fourth Dimension Wealth LLC purchased a new position in Marathon Petroleum during the 4th quarter worth $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in Marathon Petroleum during the 4th quarter worth $27,000. Asset Planning Inc purchased a new position in Marathon Petroleum during the 4th quarter worth $28,000. Sierra Ocean LLC purchased a new position in Marathon Petroleum during the 4th quarter worth $31,000. Finally, Cape Investment Advisory Inc. increased its holdings 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 period. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Price Performance

NYSE:MPC traded up $0.92 during trading hours on Friday, hitting $165.99. 2,704,849 shares of the stock were exchanged, compared to its average volume of 2,689,735. Marathon Petroleum Co. has a 52-week low of $115.10 and a 52-week high of $183.31. The firm's fifty day moving average price is $147.49 and its 200 day moving average price is $146.44. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The company has a market cap of $50.99 billion, a P/E ratio of 16.72, a P/E/G ratio of 3.11 and a beta of 0.89.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.16. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The company had revenue of $31.85 billion during the quarter, compared to analyst estimates of $28.91 billion. During the same period in the previous year, the business earned $2.58 EPS. Marathon Petroleum's quarterly revenue was down 4.1% on a year-over-year basis. As a group, equities research analysts anticipate that Marathon Petroleum Co. will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were given a $0.91 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.19%. Marathon Petroleum's dividend payout ratio (DPR) is presently 51.20%.

Analysts Set New Price Targets

Several analysts have issued reports on MPC shares. Morgan Stanley dropped their target price on Marathon Petroleum from $175.00 to $160.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Piper Sandler lowered their price target on Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. Raymond James decreased their price objective on Marathon Petroleum from $193.00 to $183.00 and set a "strong-buy" rating for the company in a report on Wednesday, April 9th. Mizuho boosted their price objective on Marathon Petroleum from $168.00 to $184.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Finally, Wells Fargo & Company boosted their price objective on Marathon Petroleum from $180.00 to $182.00 and gave the company an "overweight" rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $176.21.

Marathon Petroleum 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.