Invenomic Capital Management LP Invests $9.64 Million in Marathon Petroleum Co. (NYSE:MPC)

Invenomic Capital Management LP bought 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 filing with the Securities and Exchange Commission. The fund bought 69,103 shares of the oil and gas company's stock, valued at approximately $9,640,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. SWS Partners grew its stake in shares of Marathon Petroleum by 19.0% in the 4th quarter. SWS Partners now owns 17,577 shares of the oil and gas company's stock valued at $2,452,000 after buying an additional 2,806 shares during the period. Assenagon Asset Management S.A. grew its stake in Marathon Petroleum by 1,204.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company's stock valued at $75,757,000 after acquiring an additional 501,441 shares during the period. Greatmark Investment Partners Inc. increased its holdings in shares of Marathon Petroleum by 3.5% during the fourth quarter. Greatmark Investment Partners Inc. now owns 161,171 shares of the oil and gas company's stock valued at $22,483,000 after acquiring an additional 5,476 shares in the last quarter. TCTC Holdings LLC raised its position in shares of Marathon Petroleum by 3.3% during the fourth quarter. TCTC Holdings LLC now owns 91,256 shares of the oil and gas company's stock worth $12,730,000 after purchasing an additional 2,892 shares during the period. Finally, Cambridge Financial Group Inc. bought a new position in shares of Marathon Petroleum in the 4th quarter worth $5,624,000. 76.77% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Analysts Set New Price Targets

MPC has been the topic of several research reports. Tudor Pickering upgraded shares of Marathon Petroleum from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 4th. TD Cowen raised their price target on shares of Marathon Petroleum from $142.00 to $152.00 and gave the company a "buy" rating in a research report on Wednesday. Wells Fargo & Company decreased their price objective on Marathon Petroleum from $185.00 to $175.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Barclays dropped their target price on Marathon Petroleum from $161.00 to $141.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Finally, Morgan Stanley decreased their price target on Marathon Petroleum from $175.00 to $160.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $172.93.

Marathon Petroleum Stock Up 0.6 %

Marathon Petroleum stock opened at $150.90 on Friday. The firm has a 50 day moving average price of $137.10 and a 200-day moving average price of $145.10. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a twelve month low of $115.10 and a twelve month high of $183.31. The company has a market capitalization of $46.36 billion, a P/E ratio of 15.20, a P/E/G ratio of 3.11 and a beta of 0.87.

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

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.41%. The ex-dividend date is Wednesday, May 21st. Marathon Petroleum's dividend payout ratio (DPR) is presently 51.20%.

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.

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.