Castleark Management LLC Makes New Investment in Marathon Petroleum Corporation $MPC

Castleark Management LLC acquired a new stake in Marathon Petroleum Corporation (NYSE:MPC) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 22,400 shares of the oil and gas company’s stock, valued at approximately $5,470,000.

Several other large investors also recently modified their holdings of the stock. Navalign LLC acquired a new position in Marathon Petroleum in the 4th quarter valued at about $30,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Marathon Petroleum during the fourth quarter worth approximately $31,000. Berbice Capital Management LLC lifted its position in Marathon Petroleum by 100.0% during the fourth quarter. Berbice Capital Management LLC now owns 200 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 100 shares during the last quarter. WFA of San Diego LLC bought a new stake in shares of Marathon Petroleum during the second quarter worth approximately $33,000. Finally, Ares Financial Consulting LLC acquired a new position in shares of Marathon Petroleum in the fourth quarter valued at approximately $34,000. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Stock Up 0.8%

NYSE MPC opened at $311.79 on Tuesday. The company has a current ratio of 1.18, a quick ratio of 0.73 and a debt-to-equity ratio of 1.31. The company has a market cap of $91.02 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 0.20 and a beta of 0.52. The company has a 50 day moving average of $269.70 and a 200-day moving average of $234.02. Marathon Petroleum Corporation has a 1-year low of $158.00 and a 1-year high of $326.92.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.91. The business had revenue of $34.20 billion for the quarter, compared to the consensus estimate of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.24) earnings per share. On average, equities research analysts expect that Marathon Petroleum Corporation will post 43.19 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were given a $1.00 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.3%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 26.11%.

Insider Activity at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $268.82, for a total value of $1,703,243.52. Following the completion of the transaction, the vice president owned 16,900 shares of the company’s stock, valued at $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company reiterated an “overweight” rating and set a $344.00 target price on shares of Marathon Petroleum in a research note on Monday, June 15th. Barclays upped their price objective on Marathon Petroleum from $270.00 to $289.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Jefferies Financial Group set a $335.00 price objective on Marathon Petroleum and gave the stock a “buy” rating in a research report on Sunday, July 12th. Wall Street Zen raised Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 10th. Finally, Bank of America boosted their target price on shares of Marathon Petroleum from $224.00 to $260.00 in a research report on Tuesday, May 26th. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average target price of $298.69.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.