Jump Financial LLC Increases Position in Marathon Petroleum Corporation $MPC

Key Points

• Jump Financial LLC significantly increased its stake in Marathon Petroleum Corporation, boosting its holdings by 128% to a total of 8,663 shares worth approximately $1.26 million.
• Other major institutional investors, including Vanguard Group and Boston Partners, have also increased their positions in Marathon Petroleum during the first quarter, with institutional ownership now at 76.77%.
• Marathon Petroleum announced a quarterly dividend of $0.91 per share, resulting in an annualized yield of 2.0%, with a payout ratio of 54.01%.

Jump Financial LLC grew its position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 128.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,663 shares of the oil and gas company's stock after purchasing an additional 4,863 shares during the period. Jump Financial LLC's holdings in Marathon Petroleum were worth $1,262,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its position in Marathon Petroleum by 30.9% in the fourth 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. GHE LLC grew its position in Marathon Petroleum by 1.8% in the fourth quarter. GHE LLC now owns 38,572 shares of the oil and gas company's stock worth $5,381,000 after acquiring an additional 665 shares in the last quarter. Lido Advisors LLC lifted its stake in Marathon Petroleum by 22.0% in the fourth quarter. Lido Advisors LLC now owns 19,581 shares of the oil and gas company's stock worth $2,731,000 after purchasing an additional 3,536 shares during the last quarter. Voleon Capital Management LP bought a new stake in shares of Marathon Petroleum during the fourth quarter valued at approximately $1,511,000. Finally, Comerica Bank increased its holdings in Marathon Petroleum by 4.6% during the fourth quarter. Comerica Bank now owns 94,047 shares of the oil and gas company's stock valued at $13,120,000 after buying an additional 4,103 shares during the period. Hedge funds and other institutional investors own 76.77% of the company's stock.

Insider Transactions at Marathon Petroleum

In related news, insider Molly R. Benson sold 10,879 shares of the business's stock in a transaction dated 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 owned 28,700 shares of the company's stock, valued at approximately $4,678,100. The trade was a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kim K.W. Rucker sold 7,392 shares of the business's stock in a transaction dated 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 directly owned 18,944 shares in the company, valued at approximately $3,315,200. This represents a 28.07% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MPC has been the topic of a number of research analyst reports. Wolfe Research lowered shares of Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. Piper Sandler upped their price objective on shares of Marathon Petroleum from $175.00 to $182.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Dbs Bank upgraded shares of Marathon Petroleum to a "moderate buy" rating in a research report on Monday, July 28th. Wells Fargo & Company increased their price objective on shares of Marathon Petroleum from $182.00 to $205.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Finally, Wall Street Zen upgraded shares of Marathon Petroleum from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Eight research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $185.29.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock traded down $0.62 on Wednesday, reaching $179.53. 301,187 shares of the stock were exchanged, compared to its average volume of 2,586,208. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $183.50. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. The business has a fifty day moving average price of $171.00 and a two-hundred day moving average price of $155.73. The firm has a market capitalization of $54.58 billion, a PE ratio of 26.63, a PEG ratio of 3.27 and a beta of 0.97.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly 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 for the quarter, compared to analyst estimates of $31.70 billion. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The business's revenue was down 11.1% compared to the same quarter last year. During the same period in the previous year, the business posted $4.12 earnings per share. As a group, research analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

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

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.