Y Intercept Hong Kong Ltd Raises Stock Holdings in Marathon Petroleum Corporation (NYSE:MPC)

Key Points

• Y Intercept Hong Kong Ltd increased its stake in Marathon Petroleum Corporation by 118.9% in Q1, owning 4,291 shares valued at $625,000 after acquiring an additional 2,331 shares.
• Marathon Petroleum reported earnings per share (EPS) of ($0.24) for the quarter, surpassing estimates, with revenues of $31.85 billion, while the net margin decreased to 1.75% compared to the previous year.
• The company announced a quarterly dividend of $0.91 per share, providing an annualized yield of 2.12%, with a payout ratio of 51.20%.

Y Intercept Hong Kong Ltd boosted its stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 118.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,291 shares of the oil and gas company's stock after purchasing an additional 2,331 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Marathon Petroleum were worth $625,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Kennondale Capital Management LLC bought a new position in Marathon Petroleum in the 1st quarter worth about $2,873,000. PFG Advisors grew its holdings in shares of Marathon Petroleum by 27.1% during the first quarter. PFG Advisors now owns 8,739 shares of the oil and gas company's stock worth $1,273,000 after purchasing an additional 1,863 shares in the last quarter. HighPoint Advisor Group LLC grew its holdings in shares of Marathon Petroleum by 2.1% during the first quarter. HighPoint Advisor Group LLC now owns 15,587 shares of the oil and gas company's stock worth $2,156,000 after purchasing an additional 321 shares in the last quarter. Hazlett Burt & Watson Inc. grew its holdings in shares of Marathon Petroleum by 14.9% during the first quarter. Hazlett Burt & Watson Inc. now owns 1,351 shares of the oil and gas company's stock worth $197,000 after purchasing an additional 175 shares in the last quarter. Finally, Peterson Wealth Services grew its holdings in shares of Marathon Petroleum by 8.3% during the first quarter. Peterson Wealth Services now owns 18,975 shares of the oil and gas company's stock worth $2,764,000 after purchasing an additional 1,458 shares in the last quarter. Institutional investors own 76.77% of the company's stock.

Marathon Petroleum Stock Performance

Shares of NYSE:MPC traded down $4.54 during midday trading on Wednesday, reaching $170.89. 1,492,318 shares of the company's stock traded hands, compared to its average volume of 1,963,375. The company has a market cap of $52.50 billion, a price-to-earnings ratio of 24.04, a P/E/G ratio of 3.00 and a beta of 0.88. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.73 and a current ratio of 1.19. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $183.31. The stock has a 50 day moving average of $168.46 and a 200 day moving average of $153.00.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, beating analysts' consensus estimates of ($0.40) by $0.16. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. The company had revenue of $31.85 billion for the quarter, compared to the consensus estimate of $28.91 billion. During the same quarter in the prior year, the company earned $2.58 earnings per share. Marathon Petroleum's revenue was down 4.1% on a year-over-year basis. As a group, equities research analysts anticipate 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. Shareholders of record on Wednesday, August 20th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.13%. Marathon Petroleum's dividend payout ratio is 51.20%.

Analyst Upgrades and Downgrades

MPC has been the subject of several recent analyst reports. TD Cowen boosted their price objective on Marathon Petroleum from $152.00 to $163.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Wolfe Research lowered Marathon Petroleum from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. Scotiabank restated an "outperform" rating on shares of Marathon Petroleum in a research report on Friday, July 11th. Morgan Stanley boosted their target price on Marathon Petroleum from $160.00 to $182.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Finally, UBS Group boosted 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. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $183.93.

Insiders Place Their Bets

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 7,392 shares of the 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 of the company's stock, valued at approximately $3,315,200. This represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.21% of the company's stock.

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.