Cinctive Capital Management LP Decreases Stake in Marathon Petroleum Co. (NYSE:MPC)

Cinctive Capital Management LP lowered its holdings in Marathon Petroleum Co. (NYSE:MPC) by 64.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 43,942 shares of the oil and gas company’s stock after selling 79,942 shares during the quarter. Cinctive Capital Management LP’s holdings in Marathon Petroleum were worth $6,130,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Marathon Petroleum in the fourth quarter valued at about $27,000. True Wealth Design LLC boosted its stake in shares of Marathon Petroleum by 672.7% during the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 148 shares in the last quarter. Asset Planning Inc acquired a new stake in shares of Marathon Petroleum in the 4th quarter worth approximately $28,000. Sierra Ocean LLC purchased a new position in Marathon Petroleum in the 4th quarter valued at approximately $31,000. Finally, Cape Investment Advisory Inc. raised its holdings in Marathon Petroleum by 762.9% during the fourth quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 267 shares during the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Marathon Petroleum news, insider Ricky D. Hessling purchased 2,000 shares of Marathon Petroleum stock in a transaction on Tuesday, March 11th. The stock was bought at an average price of $134.72 per share, for a total transaction of $269,440.00. Following the transaction, the insider now owns 12,162 shares of the company’s stock, valued at $1,638,464.64. The trade was a 19.68 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Evan Bayh purchased 1,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average cost of $133.70 per share, for a total transaction of $133,700.00. Following the completion of the acquisition, the director now directly owns 69,305 shares of the company’s stock, valued at approximately $9,266,078.50. This trade represents a 1.46 % increase in their position. The disclosure for this purchase can be found here. 0.21% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MPC. Barclays raised their price target on Marathon Petroleum from $159.00 to $161.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. Mizuho cut their target price on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. TD Cowen restated a “buy” rating and issued a $170.00 target price on shares of Marathon Petroleum in a report on Tuesday, December 10th. Wells Fargo & Company upped their price objective on shares of Marathon Petroleum from $183.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Finally, Raymond James reiterated a “strong-buy” rating on shares of Marathon Petroleum in a report on Thursday, March 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.21.

Marathon Petroleum Stock Up 0.7 %

Shares of Marathon Petroleum stock opened at $146.69 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The business has a 50-day moving average price of $148.52 and a 200 day moving average price of $151.23. Marathon Petroleum Co. has a fifty-two week low of $130.54 and a fifty-two week high of $221.11. The firm has a market cap of $45.70 billion, a P/E ratio of 14.77, a P/E/G ratio of 3.11 and a beta of 1.39.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.71. The business had revenue of $33.47 billion for the quarter, compared to analyst estimates of $31.94 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The business’s revenue was down 9.1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.98 EPS. On average, sell-side analysts forecast that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th were issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.48%. The ex-dividend date was Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 36.66%.

Marathon Petroleum Company Profile

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.