Virtu Financial LLC Buys New Holdings in Marathon Petroleum Corporation (NYSE:MPC)

Key Points

• Virtu Financial LLC acquired a new position in Marathon Petroleum, purchasing 3,556 shares valued at approximately $518,000.
• Several institutional investors have increased their stakes in Marathon Petroleum, with 76.77% of the company's stock now held by institutional investors.
• Marathon Petroleum recently announced a quarterly dividend of $0.91 per share, reflecting an annualized yield of 2.3%.

Virtu Financial LLC acquired a new position in shares of Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,556 shares of the oil and gas company's stock, valued at approximately $518,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Mizuho Markets Americas LLC bought a new position in Marathon Petroleum during the 1st quarter worth $3,711,000. Frank Rimerman Advisors LLC boosted its holdings in shares of Marathon Petroleum by 2.3% in the 1st quarter. Frank Rimerman Advisors LLC now owns 5,452 shares of the oil and gas company's stock valued at $794,000 after purchasing an additional 120 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Marathon Petroleum by 314.4% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,365 shares of the oil and gas company's stock valued at $1,364,000 after purchasing an additional 7,105 shares in the last quarter. Cynosure Group LLC boosted its holdings in shares of Marathon Petroleum by 11.3% in the 1st quarter. Cynosure Group LLC now owns 7,624 shares of the oil and gas company's stock valued at $1,111,000 after purchasing an additional 771 shares in the last quarter. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of Marathon Petroleum in the 1st quarter valued at $273,000. Institutional investors own 76.77% of the company's stock.

Insider Buying and Selling 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 completion of the transaction, the director directly owned 18,944 shares of the company's stock, valued at approximately $3,315,200. This trade represents a 28.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.21% of the company's stock.

Marathon Petroleum Trading Up 0.1%

NYSE:MPC traded up $0.09 during trading hours on Friday, hitting $162.41. 1,831,442 shares of the company were exchanged, compared to its average volume of 1,747,931. The stock has a market capitalization of $49.38 billion, a price-to-earnings ratio of 24.10, a price-to-earnings-growth ratio of 2.95 and a beta of 0.90. The company has a current ratio of 1.23, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $183.10. The company has a fifty day simple moving average of $169.42 and a 200 day simple moving average of $154.04.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The oil and gas company reported $3.96 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a return on equity of 8.38% and a net margin of 1.58%. The firm had revenue of $34.10 billion during the quarter, compared to analyst estimates of $31.70 billion. During the same period last year, the company posted $4.12 EPS. The business's quarterly revenue was down 11.1% on a year-over-year basis. Sell-side analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th will be given a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $3.64 annualized dividend and a dividend yield of 2.2%. Marathon Petroleum's dividend payout ratio (DPR) is 54.01%.

Analyst Ratings Changes

MPC has been the topic of a number of research analyst reports. Dbs Bank raised Marathon Petroleum to a "moderate buy" rating in a report on Monday, July 28th. TD Cowen reduced 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, August 6th. UBS Group raised their target price on Marathon Petroleum from $175.00 to $203.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Morgan Stanley raised their target price on Marathon Petroleum from $160.00 to $182.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Finally, Scotiabank reissued an "outperform" rating on shares of Marathon Petroleum in a report on Friday, July 11th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Marathon Petroleum presently has a consensus rating of "Hold" and an average target price of $185.29.

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.