Woodline Partners LP Acquires New Shares in Marathon Petroleum Co. (NYSE:MPC)

Woodline Partners LP purchased a new stake in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 19,301 shares of the oil and gas company's stock, valued at approximately $2,692,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vident Advisory LLC raised its holdings in Marathon Petroleum by 12.3% during the fourth quarter. Vident Advisory LLC now owns 15,606 shares of the oil and gas company's stock valued at $2,177,000 after buying an additional 1,712 shares in the last quarter. Two Sigma Advisers LP acquired a new stake in Marathon Petroleum in the 4th quarter worth approximately $71,842,000. Two Sigma Investments LP bought a new stake in Marathon Petroleum during the fourth quarter worth approximately $81,318,000. True Wealth Design LLC grew its holdings in Marathon Petroleum by 215.3% during the fourth quarter. True Wealth Design LLC now owns 536 shares of the oil and gas company's stock valued at $75,000 after purchasing an additional 366 shares during the last quarter. Finally, Toronto Dominion Bank raised its position in shares of Marathon Petroleum by 3.7% in the fourth quarter. Toronto Dominion Bank now owns 173,830 shares of the oil and gas company's stock valued at $24,249,000 after purchasing an additional 6,159 shares during the period. Institutional investors and hedge funds own 76.77% of the company's stock.

Marathon Petroleum Price Performance

NYSE MPC traded up $1.24 on Thursday, hitting $159.85. 1,378,378 shares of the company were exchanged, compared to its average volume of 2,701,645. Marathon Petroleum Co. has a 1-year low of $115.10 and a 1-year high of $183.31. The firm has a 50 day moving average of $142.15 and a two-hundred day moving average of $146.17. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The company has a market cap of $49.11 billion, a P/E ratio of 16.08, a P/E/G ratio of 3.11 and a beta of 0.87.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, topping analysts' consensus estimates of ($0.40) by $0.16. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The company had revenue of $31.85 billion during the quarter, compared to the consensus estimate of $28.91 billion. During the same period in the previous year, the firm posted $2.58 earnings per share. The company's revenue was down 4.1% on a year-over-year basis. On average, equities analysts predict that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be given a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $3.64 dividend on an annualized basis and a yield of 2.28%. Marathon Petroleum's payout ratio is 51.20%.

Insider Activity

In other news, insider Ricky D. Hessling acquired 2,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $134.72 per share, for a total transaction of $269,440.00. Following the completion of the transaction, the insider now directly owns 12,162 shares in the company, valued at $1,638,464.64. This trade represents a 19.68% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Evan Bayh bought 1,000 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were acquired at an average price of $133.70 per share, for a total transaction of $133,700.00. Following the completion of the transaction, the director now owns 69,305 shares in the company, valued at approximately $9,266,078.50. This trade represents a 1.46% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.21% of the company's stock.

Analyst Ratings Changes

MPC has been the subject of a number of research analyst reports. Tudor Pickering upgraded Marathon Petroleum from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 4th. Wall Street Zen upgraded shares of Marathon Petroleum from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Morgan Stanley decreased their price objective on Marathon Petroleum from $175.00 to $160.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Mizuho increased their target price on Marathon Petroleum from $168.00 to $184.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Finally, Raymond James decreased their price target on Marathon Petroleum from $193.00 to $183.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $175.29.

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.