SCP Investment LP Buys New Shares in Marathon Petroleum Co. (NYSE:MPC)

SCP Investment LP bought a new stake in shares of Marathon Petroleum Co. (NYSE:MPC) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 4,800 shares of the oil and gas company’s stock, valued at approximately $257,000. Marathon Petroleum accounts for approximately 0.1% of SCP Investment LP’s portfolio, making the stock its 16th largest holding.

Several other institutional investors also recently added to or reduced their stakes in MPC. Norges Bank acquired a new position in shares of Marathon Petroleum during the 4th quarter valued at $331,000,000. Baupost Group LLC MA bought a new stake in Marathon Petroleum during the 4th quarter valued at $318,088,000. Morgan Stanley increased its stake in Marathon Petroleum by 43.1% during the 4th quarter. Morgan Stanley now owns 17,274,944 shares of the oil and gas company’s stock valued at $714,492,000 after purchasing an additional 5,206,764 shares in the last quarter. Lord Abbett & CO. LLC increased its stake in Marathon Petroleum by 372.5% during the 1st quarter. Lord Abbett & CO. LLC now owns 4,530,008 shares of the oil and gas company’s stock valued at $242,311,000 after purchasing an additional 3,571,177 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. increased its stake in Marathon Petroleum by 126.7% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 4,319,504 shares of the oil and gas company’s stock valued at $178,655,000 after purchasing an additional 2,413,857 shares in the last quarter. Institutional investors own 76.18% of the company’s stock.

A number of analysts have commented on MPC shares. Piper Sandler boosted their price target on shares of Marathon Petroleum from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, April 1st. Royal Bank of Canada upped their target price on shares of Marathon Petroleum from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 5th. TheStreet upgraded shares of Marathon Petroleum from a “d+” rating to a “c-” rating in a research note on Monday, March 8th. Citigroup increased their price target on shares of Marathon Petroleum from $58.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Mizuho increased their price target on shares of Marathon Petroleum from $40.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, February 26th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $59.79.

Shares of Marathon Petroleum stock traded down $0.21 on Friday, reaching $63.23. The stock had a trading volume of 89,665 shares, compared to its average volume of 6,807,184. Marathon Petroleum Co. has a 1 year low of $26.56 and a 1 year high of $64.84. The stock has a market capitalization of $41.27 billion, a P/E ratio of -38.68, a P/E/G ratio of 1.29 and a beta of 2.16. The company has a current ratio of 1.89, a quick ratio of 1.36 and a debt-to-equity ratio of 1.08. The stock’s 50 day moving average price is $57.83.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, May 4th. The oil and gas company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.52. Marathon Petroleum had a negative net margin of 1.43% and a negative return on equity of 7.64%. The firm had revenue of $22.88 billion for the quarter, compared to the consensus estimate of $19.80 billion. During the same period in the prior year, the firm posted ($0.16) earnings per share. The company’s revenue for the quarter was down 5.0% on a year-over-year basis. On average, research analysts forecast that Marathon Petroleum Co. will post 1.69 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, June 10th. Stockholders of record on Wednesday, May 19th were issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date was Tuesday, May 18th. Marathon Petroleum’s payout ratio is -67.44%.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates in two segments: Refining & Marketing, and Midstream. 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.

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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