K2 Principal Fund L.P. Buys New Shares in Marathon Petroleum Co. (NYSE:MPC)

K2 Principal Fund L.P. purchased a new position in Marathon Petroleum Co. (NYSE:MPC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,200 shares of the oil and gas company’s stock, valued at approximately $208,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Scarborough Advisors LLC increased its position in Marathon Petroleum by 10.7% during the fourth quarter. Scarborough Advisors LLC now owns 2,174 shares of the oil and gas company’s stock worth $323,000 after purchasing an additional 210 shares during the last quarter. Global Assets Advisory LLC acquired a new position in Marathon Petroleum in the first quarter valued at $36,823,000. Founders Financial Securities LLC grew its position in Marathon Petroleum by 22.8% during the second quarter. Founders Financial Securities LLC now owns 4,972 shares of the oil and gas company’s stock valued at $863,000 after acquiring an additional 924 shares during the period. Fidelis Capital Partners LLC increased its stake in Marathon Petroleum by 3.2% during the first quarter. Fidelis Capital Partners LLC now owns 3,050 shares of the oil and gas company’s stock worth $615,000 after acquiring an additional 94 shares during the last quarter. Finally, LRI Investments LLC purchased a new position in shares of Marathon Petroleum in the 1st quarter worth about $97,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Down 0.1 %

NYSE:MPC opened at $164.21 on Tuesday. The stock has a 50-day simple moving average of $169.94 and a 200 day simple moving average of $179.73. Marathon Petroleum Co. has a one year low of $139.32 and a one year high of $221.11. The company has a market capitalization of $57.86 billion, a price-to-earnings ratio of 8.20, a price-to-earnings-growth ratio of 2.09 and a beta of 1.38. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $1.03. Marathon Petroleum had a return on equity of 24.05% and a net margin of 4.79%. The business had revenue of $38.36 billion for the quarter, compared to analyst estimates of $36.66 billion. During the same period in the prior year, the company posted $5.32 EPS. The business’s revenue was up 4.2% compared to the same quarter last year. Sell-side analysts predict that Marathon Petroleum Co. will post 12.68 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st were given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Wednesday, August 21st. Marathon Petroleum’s dividend payout ratio is presently 16.48%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Barclays cut their price target on shares of Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating on the stock in a report on Monday, July 1st. JPMorgan Chase & Co. reduced their target price on shares of Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Piper Sandler lowered their price target on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating for the company in a report on Friday. StockNews.com cut Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Finally, Morgan Stanley lowered their target price on Marathon Petroleum from $196.00 to $182.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $197.69.

Marathon Petroleum Company 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.