Arrowstreet Capital Limited Partnership Has $100.23 Million Holdings in Marathon Petroleum Corporation $MPC

Arrowstreet Capital Limited Partnership boosted its stake in Marathon Petroleum Corporation (NYSE:MPC) by 1,116.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 410,459 shares of the oil and gas company’s stock after purchasing an additional 376,721 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.14% of Marathon Petroleum worth $100,226,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MPC. Norges Bank bought a new stake in shares of Marathon Petroleum in the 4th quarter valued at about $472,312,000. Capital Wealth Planning LLC boosted its stake in Marathon Petroleum by 49,392.0% during the 4th quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock worth $245,157,000 after acquiring an additional 1,495,097 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Marathon Petroleum by 3,816.8% during the fourth quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company’s stock valued at $212,517,000 after purchasing an additional 1,273,386 shares during the period. GHE LLC increased its stake in Marathon Petroleum by 1,939.8% in the first quarter. GHE LLC now owns 649,542 shares of the oil and gas company’s stock valued at $158,605,000 after purchasing an additional 617,699 shares in the last quarter. Finally, Man Group plc increased its stake in Marathon Petroleum by 2,175.0% in the fourth quarter. Man Group plc now owns 568,790 shares of the oil and gas company’s stock valued at $92,502,000 after purchasing an additional 543,788 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $309.14 on Friday. The company has a fifty day moving average price of $268.66 and a two-hundred day moving average price of $232.62. Marathon Petroleum Corporation has a one year low of $158.00 and a one year high of $326.92. The stock has a market cap of $90.25 billion, a P/E ratio of 20.18, a P/E/G ratio of 0.21 and a beta of 0.52. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.18 and a quick ratio of 0.73.

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

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.3%. Marathon Petroleum’s payout ratio is presently 26.11%.

Wall Street Analysts Forecast Growth

MPC has been the subject of several research analyst reports. Wall Street Zen raised shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 10th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $344.00 price objective on shares of Marathon Petroleum in a research note on Monday, June 15th. Piper Sandler reiterated an “overweight” rating and set a $343.00 target price on shares of Marathon Petroleum in a report on Thursday. UBS Group reissued a “buy” rating and issued a $321.00 target price on shares of Marathon Petroleum in a research note on Friday, July 10th. Finally, Bank of America increased their price target on Marathon Petroleum from $224.00 to $260.00 in a report on Tuesday, May 26th. Eleven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $298.69.

Insiders Place Their Bets

In related news, VP Michael A. Henschen II sold 6,336 shares of the stock in a transaction on 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 sale, the vice president owned 16,900 shares in the company, valued at approximately $4,543,058. This represents a 27.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.17% of the company’s stock.

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.