Stevens Capital Management LP Boosts Stake in Marathon Petroleum Corporation (NYSE:MPC)

Key Points

• Stevens Capital Management LP increased its stake in Marathon Petroleum Corporation (NYSE:MPC) by 77.9%, owning 6,031 shares valued at $879,000 as of its latest SEC filing.
• Marathon Petroleum recently reported a decline in quarterly revenue of 4.1% compared to the previous year, while achieving a net margin of 1.75% and exceeding EPS estimates.
• The company announced a quarterly dividend of $0.91 per share, resulting in an annualized yield of 2.12% and a payout ratio of 51.20%.

Stevens Capital Management LP increased its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 77.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,031 shares of the oil and gas company's stock after acquiring an additional 2,640 shares during the period. Stevens Capital Management LP's holdings in Marathon Petroleum were worth $879,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Fourth Dimension Wealth LLC bought a new position in Marathon Petroleum during the fourth quarter valued at $26,000. CBIZ Investment Advisory Services LLC increased its position in Marathon Petroleum by 1,546.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 214 shares of the oil and gas company's stock worth $31,000 after buying an additional 201 shares during the last quarter. Hughes Financial Services LLC purchased a new stake in Marathon Petroleum in the first quarter worth $32,000. Decker Retirement Planning Inc. increased its position in Marathon Petroleum by 1,621.4% in the first quarter. Decker Retirement Planning Inc. now owns 241 shares of the oil and gas company's stock worth $35,000 after buying an additional 227 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in Marathon Petroleum in the first quarter worth $35,000. 76.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on MPC shares. Wells Fargo & Company raised their target price on Marathon Petroleum from $182.00 to $205.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. UBS Group raised their target price on Marathon Petroleum from $175.00 to $203.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Evercore ISI assumed coverage on Marathon Petroleum in a research report on Wednesday, June 18th. They issued an "in-line" rating and a $170.00 target price for the company. Mizuho lifted their price target on Marathon Petroleum from $168.00 to $184.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Finally, Piper Sandler lifted their price objective on Marathon Petroleum from $175.00 to $182.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $183.93.

Marathon Petroleum Price Performance

NYSE MPC traded down $1.68 during trading hours on Tuesday, reaching $173.12. 377,466 shares of the stock traded hands, compared to its average volume of 2,725,443. The stock has a 50 day simple moving average of $167.90 and a two-hundred day simple moving average of $152.72. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $183.31. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.19 and a quick ratio of 0.73. The company has a market cap of $53.18 billion, a price-to-earnings ratio of 24.34, a price-to-earnings-growth ratio of 2.93 and a beta of 0.88.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released 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. The firm had revenue of $31.85 billion for the quarter, compared to the consensus estimate of $28.91 billion. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. The company's quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.58 earnings per share. On average, analysts predict that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were issued a $0.91 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $3.64 annualized dividend and a dividend yield of 2.10%. Marathon Petroleum's dividend payout ratio is currently 51.20%.

Insider Activity at Marathon Petroleum

In other news, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $175.00, for a total value of $1,293,600.00. Following the transaction, the director owned 18,944 shares in the company, valued at approximately $3,315,200. The trade was a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company's stock.

Marathon Petroleum Company 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.