Quadrature Capital Ltd Sells 193,842 Shares of Marathon Petroleum Co. (NYSE:MPC)

Quadrature Capital Ltd cut its holdings in shares of Marathon Petroleum Co. (NYSE:MPCFree Report) by 93.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,919 shares of the oil and gas company’s stock after selling 193,842 shares during the quarter. Quadrature Capital Ltd’s holdings in Marathon Petroleum were worth $1,916,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Sompo Asset Management Co. Ltd. acquired a new position in Marathon Petroleum during the fourth quarter valued at approximately $544,000. Schroder Investment Management Group boosted its holdings in shares of Marathon Petroleum by 309.9% in the 4th quarter. Schroder Investment Management Group now owns 643,590 shares of the oil and gas company’s stock valued at $95,483,000 after buying an additional 486,573 shares during the last quarter. Prudential PLC grew its stake in shares of Marathon Petroleum by 12.9% in the fourth quarter. Prudential PLC now owns 113,597 shares of the oil and gas company’s stock valued at $16,853,000 after buying an additional 12,997 shares in the last quarter. Vinva Investment Management Ltd increased its holdings in Marathon Petroleum by 20.5% during the fourth quarter. Vinva Investment Management Ltd now owns 21,937 shares of the oil and gas company’s stock worth $3,222,000 after buying an additional 3,729 shares during the last quarter. Finally, Morningstar Investment Services LLC bought a new stake in Marathon Petroleum during the fourth quarter worth $460,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $175.10 on Monday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 1.43. Marathon Petroleum Co. has a fifty-two week low of $108.88 and a fifty-two week high of $221.11. The company has a market cap of $61.69 billion, a price-to-earnings ratio of 8.75, a PEG ratio of 1.51 and a beta of 1.45. The stock has a fifty day moving average price of $189.53 and a 200-day moving average price of $173.28.

Marathon Petroleum (NYSE:MPCGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.25. Marathon Petroleum had a net margin of 5.32% and a return on equity of 25.87%. The firm had revenue of $32.71 billion for the quarter, compared to the consensus estimate of $32.07 billion. During the same period in the prior year, the company posted $6.09 earnings per share. The business’s revenue for the quarter was down 6.2% on a year-over-year basis. As a group, equities analysts anticipate that Marathon Petroleum Co. will post 19.3 EPS for the current fiscal year.

Marathon Petroleum declared that its board has approved a share repurchase program on Tuesday, April 30th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the oil and gas company to buy up to 7.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Wednesday, May 15th. Marathon Petroleum’s payout ratio is presently 16.48%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Tudor Pickering upgraded shares of Marathon Petroleum to a “strong-buy” rating in a research note on Thursday, May 30th. Scotiabank boosted their price target on Marathon Petroleum from $175.00 to $207.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. The Goldman Sachs Group raised their price objective on Marathon Petroleum from $175.00 to $211.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Barclays decreased their target price on Marathon Petroleum from $221.00 to $195.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Finally, Piper Sandler reduced their price objective on shares of Marathon Petroleum from $204.00 to $190.00 and set a “neutral” rating for the company in a research report on Tuesday, May 14th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $193.92.

Read Our Latest Stock Report on MPC

About Marathon Petroleum

(Free Report)

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.

Further Reading

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

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