Verition Fund Management LLC Takes $2.14 Million Position in Marathon Petroleum Co. (NYSE:MPC)

Verition Fund Management LLC purchased a new stake in shares of Marathon Petroleum Co. (NYSE:MPC) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 40,000 shares of the oil and gas company’s stock, valued at approximately $2,140,000.

Other large investors also recently modified their holdings of the company. Grandview Asset Management LLC bought a new position in shares of Marathon Petroleum during the first quarter valued at $71,000. Contravisory Investment Management Inc. purchased a new stake in shares of Marathon Petroleum during the first quarter valued at $25,000. GPS Wealth Strategies Group LLC purchased a new stake in shares of Marathon Petroleum during the first quarter valued at $25,000. Allred Capital Management LLC purchased a new stake in shares of Marathon Petroleum during the first quarter valued at $25,000. Finally, Total Clarity Wealth Management Inc. purchased a new stake in shares of Marathon Petroleum during the first quarter valued at $27,000. Hedge funds and other institutional investors own 76.20% of the company’s stock.

Shares of MPC opened at $54.08 on Thursday. The company’s 50 day simple moving average is $60.14. The company has a market cap of $35.30 billion, a P/E ratio of -32.98, a PEG ratio of 5.71 and a beta of 2.17. Marathon Petroleum Co. has a 12-month low of $26.56 and a 12-month high of $64.84. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.89 and a quick ratio of 1.36.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, May 4th. The oil and gas company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.52. The company had revenue of $22.88 billion for the quarter, compared to the consensus estimate of $19.80 billion. Marathon Petroleum had a negative return on equity of 7.64% and a negative net margin of 1.43%. The firm’s quarterly revenue was down 5.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.16) EPS. On average, equities research analysts predict that Marathon Petroleum Co. will post 1.14 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 10th. Investors of record on Wednesday, May 19th were paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 4.29%. The ex-dividend date of this dividend was Tuesday, May 18th. Marathon Petroleum’s dividend payout ratio (DPR) is presently -67.44%.

MPC has been the topic of several research reports. Piper Sandler raised their target price on Marathon Petroleum from $50.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, April 1st. Citigroup raised their target price on Marathon Petroleum from $58.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 9th. Raymond James reissued a “buy” rating and issued a $82.00 target price on shares of Marathon Petroleum in a research report on Monday, July 12th. raised their target price on Marathon Petroleum from $58.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 9th. Finally, Credit Suisse Group initiated coverage on Marathon Petroleum in a research report on Monday, May 17th. They issued an “outperform” rating on the stock. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Marathon Petroleum currently has a consensus rating of “Buy” and an average target price of $64.50.

Marathon Petroleum Profile

Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates in two segments: Refining & Marketing, and Midstream. 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.

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

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