Marathon Petroleum Corporation $MPC Shares Bought by Atlatl Advisers LLC

Key Points

• Atlatl Advisers LLC sharply increased its Marathon Petroleum stake by acquiring 27,344 additional shares in the third quarter, bringing its holdings to 27,367 shares worth approximately $10.8 million. Institutional investors and hedge funds collectively own 76.77% of MPC.
• Analysts maintain a generally positive outlook, with MPC receiving a “Moderate Buy” consensus rating and an average price target of $424.31; ratings include one Strong Buy, eleven Buys, and five Holds.
• Marathon Petroleum reported quarterly EPS of $17.73, beating estimates by $3.46, while revenue rose 53.5% year over year to $51.99 billion. The company also pays a quarterly dividend of $1.00 per share, equivalent to a 0.9% annual yield.

Atlatl Advisers LLC increased its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 118,887.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,367 shares of the oil and gas company's stock after acquiring an additional 27,344 shares during the period. Marathon Petroleum comprises approximately 2.6% of Atlatl Advisers LLC's holdings, making the stock its 7th largest holding. Atlatl Advisers LLC's holdings in Marathon Petroleum were worth $10,821,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vontobel Holding Ltd. grew its stake in shares of Marathon Petroleum by 23.2% during the third quarter. Vontobel Holding Ltd. now owns 14,025 shares of the oil and gas company's stock valued at $5,546,000 after purchasing an additional 2,637 shares during the last quarter. Energy Income Partners LLC acquired a new stake in shares of Marathon Petroleum in the second quarter valued at approximately $4,912,000. Evolve Private Wealth LLC bought a new position in Marathon Petroleum in the 2nd quarter worth approximately $673,000. Railway Pension Investments Ltd bought a new position in Marathon Petroleum in the 2nd quarter worth approximately $3,886,000. Finally, Sax Wealth Advisors LLC raised its position in Marathon Petroleum by 471.0% in the 3rd quarter. Sax Wealth Advisors LLC now owns 18,705 shares of the oil and gas company's stock worth $7,396,000 after purchasing an additional 15,429 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MPC has been the topic of a number of recent research reports. Citigroup increased their price objective on Marathon Petroleum from $318.00 to $518.00 and gave the company a "neutral" rating in a research report on Tuesday, October 13th. UBS Group set a $510.00 target price on Marathon Petroleum in a research report on Friday, October 9th. Bank of America upped their price target on Marathon Petroleum from $410.00 to $426.00 and gave the company a "neutral" rating in a research note on Friday, October 2nd. TD Cowen raised their price target on Marathon Petroleum from $450.00 to $478.00 and gave the company a "buy" rating in a report on Thursday. Finally, Raymond James Financial lifted their price objective on Marathon Petroleum from $350.00 to $445.00 and gave the stock an "outperform" rating in a research report on Monday, September 14th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $424.31.

Marathon Petroleum Stock Performance

MPC stock opened at $457.00 on Friday. The business's fifty day moving average is $410.05 and its 200-day moving average is $316.79. The company has a quick ratio of 0.89, a current ratio of 1.25 and a debt-to-equity ratio of 1.19. The company has a market cap of $133.42 billion, a P/E ratio of 17.36, a price-to-earnings-growth ratio of 0.12 and a beta of 0.54. Marathon Petroleum Corporation has a twelve month low of $161.93 and a twelve month high of $493.98.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $14.27 by $3.46. The firm had revenue of $51.99 billion during the quarter, compared to analysts' expectations of $40.87 billion. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The business's revenue for the quarter was up 53.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.96 earnings per share. Equities research analysts forecast that Marathon Petroleum Corporation will post 63.58 EPS for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, August 19th. Marathon Petroleum's dividend payout ratio (DPR) is currently 13.75%.

Insider Activity

In related news, SVP Shawn M. Lyon sold 1,000 shares of the business's stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $375.75, for a total transaction of $375,750.00. Following the transaction, the senior vice president directly owned 11,194 shares of the company's stock, valued at approximately $4,206,145.50. The trade was a 8.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Erin M. Brzezinski sold 570 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $362.79, for a total value of $206,790.30. Following the transaction, the vice president owned 1,576 shares in the company, valued at approximately $571,757.04. This trade represents a 26.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 21,691 shares of company stock worth $7,780,127 over the last ninety days. Insiders own 0.17% of the company's stock.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation NYSE: MPC is an American downstream energy company engaged in refining, marketing, and transporting petroleum products. Its operations include converting crude oil into gasoline, diesel, jet fuel, asphalt, propane, and other refined products used by transportation, industrial, and commercial customers.

The company markets fuel under the Marathon brand and supplies products to independent marketers, commercial businesses, and other wholesale customers. Marathon Petroleum also owns a general-partner interest and significant limited-partner interest in MPLX Inc, a midstream company that operates pipelines, storage facilities, terminals, and gathering and processing assets supporting the movement of crude oil and natural gas liquids.

Marathon Petroleum's refining and midstream activities are concentrated in the United States, with assets serving regions across the Midwest, Gulf Coast, and West Coast.

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