Quarry LP Acquires 6,327 Shares of Marathon Petroleum Co. (NYSE:MPC)

Quarry LP lifted its stake in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 206.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,397 shares of the oil and gas company's stock after buying an additional 6,327 shares during the period. Quarry LP's holdings in Marathon Petroleum were worth $1,311,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of MPC. Prosperity Consulting Group LLC grew its stake in shares of Marathon Petroleum by 2.3% in the 4th quarter. Prosperity Consulting Group LLC now owns 17,775 shares of the oil and gas company's stock worth $2,480,000 after acquiring an additional 400 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in Marathon Petroleum in the 4th quarter valued at about $11,680,000. Coldstream Capital Management Inc. lifted its position in shares of Marathon Petroleum by 0.9% during the 4th quarter. Coldstream Capital Management Inc. now owns 20,137 shares of the oil and gas company's stock worth $2,809,000 after buying an additional 183 shares in the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of Marathon Petroleum by 70.0% in the 4th quarter. Integrated Wealth Concepts LLC now owns 15,604 shares of the oil and gas company's stock worth $2,177,000 after buying an additional 6,423 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its position in shares of Marathon Petroleum by 11.7% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 285,260 shares of the oil and gas company's stock valued at $39,794,000 after acquiring an additional 29,800 shares during the last quarter. Institutional investors own 76.77% of the company's stock.

Marathon Petroleum Price Performance

Shares of Marathon Petroleum stock traded up $0.33 during trading on Thursday, hitting $137.74. The stock had a trading volume of 2,051,901 shares, compared to its average volume of 2,697,020. The firm has a market cap of $42.91 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 3.11 and a beta of 1.04. Marathon Petroleum Co. has a 12 month low of $115.10 and a 12 month high of $184.77. The business's 50-day moving average is $137.56 and its 200 day moving average is $145.82. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.71. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The business had revenue of $33.47 billion for the quarter, compared to analysts' expectations of $31.94 billion. During the same quarter in the prior year, the firm earned $3.98 earnings per share. The firm's revenue was down 9.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors 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 dividend yield of 2.64%. The ex-dividend date of this dividend is Wednesday, May 21st. Marathon Petroleum's dividend payout ratio is currently 36.66%.

Analysts Set New Price Targets

A number of brokerages have issued reports on MPC. Morgan Stanley reduced their price objective on Marathon Petroleum from $175.00 to $160.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Scotiabank decreased their price objective on shares of Marathon Petroleum from $169.00 to $147.00 and set a "sector outperform" rating for the company in a report on Friday, April 11th. Wells Fargo & Company lowered their price objective on shares of Marathon Petroleum from $185.00 to $175.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Piper Sandler reduced their target price on shares of Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. Finally, Tudor Pickering raised shares of Marathon Petroleum from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 4th. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $174.21.

Insider Buying and Selling

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

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.