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Marathon Petroleum Corporation (NYSE:MPC) Shares Purchased by Townsquare Capital LLC

Marathon Petroleum logo with Energy background

Key Points

  • Townsquare Capital LLC increased its stake in Marathon Petroleum by 4.3% during Q1 2023, now owning 50,149 shares valued at approximately $7.31 million.
  • Marathon Petroleum's quarterly earnings exceeded expectations, reporting $3.96 EPS on revenue of $34.10 billion, although revenue is down 11.1% year-over-year.
  • Several brokerages have raised their target prices for Marathon Petroleum, with a consensus rating of "Hold" and an average price target of $185.29.
  • Looking to Export and Analyze Marathon Petroleum Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Townsquare Capital LLC raised its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 4.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,149 shares of the oil and gas company's stock after acquiring an additional 2,072 shares during the period. Townsquare Capital LLC's holdings in Marathon Petroleum were worth $7,306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Beverly Hills Private Wealth LLC increased its position in Marathon Petroleum by 1.2% during the fourth quarter. Beverly Hills Private Wealth LLC now owns 6,655 shares of the oil and gas company's stock worth $928,000 after buying an additional 76 shares during the period. Sunpointe LLC grew its position in shares of Marathon Petroleum by 5.1% during the first quarter. Sunpointe LLC now owns 1,681 shares of the oil and gas company's stock worth $245,000 after acquiring an additional 81 shares during the last quarter. Valmark Advisers Inc. raised its position in Marathon Petroleum by 2.3% in the 1st quarter. Valmark Advisers Inc. now owns 3,801 shares of the oil and gas company's stock valued at $554,000 after purchasing an additional 86 shares during the last quarter. Southland Equity Partners LLC boosted its stake in Marathon Petroleum by 6.2% during the 1st quarter. Southland Equity Partners LLC now owns 1,549 shares of the oil and gas company's stock worth $226,000 after purchasing an additional 90 shares during the period. Finally, Prudent Man Advisors LLC grew its position in Marathon Petroleum by 2.3% during the 1st quarter. Prudent Man Advisors LLC now owns 4,056 shares of the oil and gas company's stock worth $591,000 after purchasing an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company's stock.

Insiders Place Their Bets

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the firm's stock in a transaction dated 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 directly owned 18,944 shares of the company's stock, valued at $3,315,200. This trade represents a 28.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MPC. Piper Sandler upped their target price on shares of Marathon Petroleum from $175.00 to $182.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Citigroup increased their price objective on Marathon Petroleum from $144.00 to $182.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. TD Cowen dropped their target price on Marathon Petroleum from $190.00 to $182.00 and set a "buy" rating on the stock in a report on Wednesday. Wells Fargo & Company increased their price target on Marathon Petroleum from $182.00 to $205.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Finally, Dbs Bank upgraded shares of Marathon Petroleum to a "moderate buy" rating in a research report on Monday, July 28th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $185.29.

Check Out Our Latest Research Report on Marathon Petroleum

Marathon Petroleum Stock Performance

Shares of MPC opened at $160.95 on Friday. Marathon Petroleum Corporation has a 12-month low of $115.10 and a 12-month high of $183.10. The stock has a market cap of $48.93 billion, a P/E ratio of 23.88, a PEG ratio of 2.80 and a beta of 0.90. The company has a current ratio of 1.23, a quick ratio of 0.73 and a debt-to-equity ratio of 1.15. The company has a 50-day moving average of $169.25 and a two-hundred day moving average of $153.74.

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

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $3.64 annualized dividend and a yield of 2.3%. Marathon Petroleum's payout ratio is presently 54.01%.

Marathon Petroleum Company Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Corporation (NYSE:MPC - Free Report).

Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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