Seven Eight Capital LP Makes New Investment in Marathon Petroleum Co. (NYSE:MPC)

Seven Eight Capital LP purchased a new stake in shares of Marathon Petroleum Co. (NYSE:MPC) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 5,897 shares of the oil and gas company’s stock, valued at approximately $1,023,000.

Several other hedge funds and other institutional investors also recently modified their holdings of MPC. Gryphon Financial Partners LLC raised its position in shares of Marathon Petroleum by 81.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 4,226 shares of the oil and gas company’s stock valued at $627,000 after buying an additional 1,895 shares in the last quarter. Gladstone Institutional Advisory LLC increased its stake in Marathon Petroleum by 7.1% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 1,642 shares of the oil and gas company’s stock valued at $244,000 after acquiring an additional 109 shares during the last quarter. CreativeOne Wealth LLC raised its position in Marathon Petroleum by 17.9% during the fourth quarter. CreativeOne Wealth LLC now owns 2,826 shares of the oil and gas company’s stock valued at $419,000 after purchasing an additional 430 shares in the last quarter. Franklin Resources Inc. lifted its stake in Marathon Petroleum by 17.6% during the fourth quarter. Franklin Resources Inc. now owns 692,063 shares of the oil and gas company’s stock worth $102,675,000 after purchasing an additional 103,471 shares during the last quarter. Finally, BlackDiamond Wealth Management LLC boosted its holdings in shares of Marathon Petroleum by 24.5% in the 4th quarter. BlackDiamond Wealth Management LLC now owns 1,758 shares of the oil and gas company’s stock worth $261,000 after purchasing an additional 346 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

Shares of MPC stock opened at $164.34 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 1.31. Marathon Petroleum Co. has a fifty-two week low of $139.32 and a fifty-two week high of $221.11. The firm has a market cap of $57.90 billion, a P/E ratio of 8.21, a P/E/G ratio of 2.09 and a beta of 1.38. The business’s 50 day moving average price is $169.99 and its 200-day moving average price is $179.77.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $4.12 earnings per share for the quarter, beating the consensus estimate of $3.09 by $1.03. Marathon Petroleum had a net margin of 4.79% and a return on equity of 24.05%. The business had revenue of $38.36 billion for the quarter, compared to analysts’ expectations of $36.66 billion. During the same quarter in the previous year, the business posted $5.32 earnings per share. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities research analysts anticipate that Marathon Petroleum Co. will post 12.68 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st were issued a $0.825 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $3.30 annualized dividend and a yield of 2.01%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MPC. Piper Sandler decreased their price objective on Marathon Petroleum from $168.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday. StockNews.com lowered shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a report on Friday, June 14th. Scotiabank lowered their price target on shares of Marathon Petroleum from $207.00 to $191.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Mizuho reduced their price objective on Marathon Petroleum from $198.00 to $193.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Finally, Wolfe Research began coverage on Marathon Petroleum in a research note on Thursday, July 18th. They issued an “outperform” rating and a $200.00 target price for the company. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $197.69.

Marathon Petroleum 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.