Thomist Capital Management LP Buys 109,822 Shares of Marathon Petroleum Co. (NYSE:MPC)

Thomist Capital Management LP boosted its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 103.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 215,618 shares of the oil and gas company’s stock after purchasing an additional 109,822 shares during the quarter. Marathon Petroleum makes up approximately 13.2% of Thomist Capital Management LP’s holdings, making the stock its 2nd largest position. Thomist Capital Management LP owned approximately 0.06% of Marathon Petroleum worth $35,743,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Raymond James & Associates raised its holdings in shares of Marathon Petroleum by 2.6% during the second quarter. Raymond James & Associates now owns 4,286,892 shares of the oil and gas company’s stock valued at $743,690,000 after buying an additional 107,915 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Marathon Petroleum by 1.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,080,958 shares of the oil and gas company’s stock worth $620,815,000 after acquiring an additional 31,100 shares during the period. Boston Partners grew its stake in shares of Marathon Petroleum by 0.3% in the first quarter. Boston Partners now owns 2,773,050 shares of the oil and gas company’s stock worth $558,390,000 after purchasing an additional 8,476 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Marathon Petroleum by 7.6% during the first quarter. Acadian Asset Management LLC now owns 1,663,835 shares of the oil and gas company’s stock valued at $335,241,000 after purchasing an additional 117,790 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in shares of Marathon Petroleum by 1.0% during the first quarter. Canada Pension Plan Investment Board now owns 1,213,056 shares of the oil and gas company’s stock valued at $244,431,000 after purchasing an additional 12,536 shares in the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Price Performance

MPC stock opened at $164.67 on Thursday. The company has a current ratio of 1.31, a quick ratio of 0.90 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $58.02 billion, a PE ratio of 8.23, a P/E/G ratio of 2.09 and a beta of 1.38. Marathon Petroleum Co. has a one year low of $139.32 and a one year high of $221.11. The firm has a 50-day moving average of $169.97 and a two-hundred day moving average of $179.93.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, topping the consensus estimate of $3.09 by $1.03. The firm had revenue of $38.36 billion for the quarter, compared to analysts’ expectations of $36.66 billion. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $5.32 EPS. On average, analysts forecast that Marathon Petroleum Co. will post 12.68 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were paid a dividend of $0.825 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $3.30 annualized dividend and a yield of 2.00%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

Analysts Set New Price Targets

MPC has been the topic of several research analyst reports. StockNews.com cut shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Piper Sandler dropped their target price on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating on the stock in a report on Friday, June 14th. Wells Fargo & Company decreased their price target on Marathon Petroleum from $223.00 to $196.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Tudor Pickering downgraded Marathon Petroleum from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, September 9th. Finally, JPMorgan Chase & Co. decreased their target price on Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $199.46.

About Marathon Petroleum

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.