HITE Hedge Asset Management LLC Buys New Holdings in Marathon Petroleum Corp (NYSE:MPC)
HITE Hedge Asset Management LLC bought a new position in Marathon Petroleum Corp (NYSE:MPC) in the first quarter, HoldingsChannel.com reports. The institutional investor bought 3,772 shares of the oil and gas company’s stock, valued at approximately $226,000.
Several other institutional investors have also bought and sold shares of MPC. Andra AP fonden purchased a new position in Marathon Petroleum during the first quarter valued at $4,453,000. TCG Advisors LP purchased a new position in Marathon Petroleum during the first quarter valued at $321,000. Advisory Alpha LLC purchased a new position in Marathon Petroleum during the first quarter valued at $52,000. Loews Corp lifted its position in Marathon Petroleum by 14.8% during the first quarter. Loews Corp now owns 325,000 shares of the oil and gas company’s stock valued at $19,451,000 after purchasing an additional 42,000 shares in the last quarter. Finally, TCW Group Inc. lifted its position in Marathon Petroleum by 36.3% during the first quarter. TCW Group Inc. now owns 1,089,957 shares of the oil and gas company’s stock valued at $65,234,000 after purchasing an additional 290,364 shares in the last quarter. 77.57% of the stock is owned by institutional investors and hedge funds.
MPC has been the topic of several analyst reports. Raymond James lowered their target price on Marathon Petroleum from $90.00 to $85.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, April 10th. ValuEngine downgraded Marathon Petroleum from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. Royal Bank of Canada lowered their target price on Marathon Petroleum from $71.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Citigroup lowered their target price on Marathon Petroleum from $91.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. Finally, Zacks Investment Research downgraded Marathon Petroleum from a “hold” rating to a “strong sell” rating in a research report on Friday, May 17th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. Marathon Petroleum has an average rating of “Buy” and an average price target of $85.68.
Shares of Marathon Petroleum stock traded down $0.49 during trading hours on Wednesday, hitting $47.28. The company’s stock had a trading volume of 245,310 shares, compared to its average volume of 6,887,816. The company has a quick ratio of 0.55, a current ratio of 1.20 and a debt-to-equity ratio of 0.69. Marathon Petroleum Corp has a 12-month low of $45.47 and a 12-month high of $88.45. The company has a market capitalization of $31.98 billion, a price-to-earnings ratio of 6.99, a PEG ratio of 1.09 and a beta of 1.52.
Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Wednesday, May 8th. The oil and gas company reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.10). Marathon Petroleum had a return on equity of 11.10% and a net margin of 2.56%. The company had revenue of $28.62 billion for the quarter, compared to the consensus estimate of $27.70 billion. During the same period in the previous year, the firm earned $0.08 earnings per share. The company’s revenue was up 50.7% compared to the same quarter last year. On average, equities analysts expect that Marathon Petroleum Corp will post 4.89 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $2.12 annualized dividend and a yield of 4.48%. Marathon Petroleum’s payout ratio is currently 31.27%.
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Marathon Petroleum Company Profile
Marathon Petroleum Corp. is an independent petroleum product refiners, marketers and transporters in the United States. The company operates through the following segments: Refining & Marketing; Retail; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products through various means, including barges, terminals and trucks that the company owns or operates.
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