Caxton Associates LP Raises Holdings in Marathon Petroleum Co. (NYSE:MPC)

Caxton Associates LP increased its position in Marathon Petroleum Co. (NYSE:MPC) by 1,009.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 86,674 shares of the oil and gas company’s stock after buying an additional 78,863 shares during the quarter. Caxton Associates LP’s holdings in Marathon Petroleum were worth $12,859,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in MPC. Marino Stram & Associates LLC increased its holdings in Marathon Petroleum by 0.5% in the 4th quarter. Marino Stram & Associates LLC now owns 11,424 shares of the oil and gas company’s stock valued at $1,695,000 after purchasing an additional 60 shares in the last quarter. SteelPeak Wealth LLC grew its stake in shares of Marathon Petroleum by 0.3% during the fourth quarter. SteelPeak Wealth LLC now owns 20,408 shares of the oil and gas company’s stock valued at $3,028,000 after acquiring an additional 67 shares in the last quarter. Aaron Wealth Advisors LLC grew its stake in shares of Marathon Petroleum by 4.5% during the fourth quarter. Aaron Wealth Advisors LLC now owns 1,559 shares of the oil and gas company’s stock valued at $231,000 after acquiring an additional 67 shares in the last quarter. Mission Wealth Management LP grew its stake in shares of Marathon Petroleum by 0.8% during the fourth quarter. Mission Wealth Management LP now owns 8,756 shares of the oil and gas company’s stock valued at $1,299,000 after acquiring an additional 67 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co grew its stake in shares of Marathon Petroleum by 1.9% during the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 4,102 shares of the oil and gas company’s stock valued at $609,000 after acquiring an additional 75 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Performance

NYSE MPC traded down $0.05 during trading hours on Tuesday, reaching $174.29. The company’s stock had a trading volume of 1,025,778 shares, compared to its average volume of 2,683,045. The business has a 50-day simple moving average of $188.93 and a 200 day simple moving average of $173.45. The stock has a market cap of $61.41 billion, a PE ratio of 8.61, a PEG ratio of 1.51 and a beta of 1.45. The company has a current ratio of 1.43, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. Marathon Petroleum Co. has a 52 week low of $108.88 and a 52 week high of $221.11.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.25. The company had revenue of $32.71 billion for the quarter, compared to analysts’ expectations of $32.07 billion. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.09 earnings per share. Equities research analysts predict that Marathon Petroleum Co. will post 19.3 earnings per share for the current fiscal year.

Marathon Petroleum declared that its board has approved a share buyback plan on Tuesday, April 30th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to buy up to 7.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Thursday, May 16th were issued a dividend of $0.825 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.89%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 16.48%.

Analyst Upgrades and Downgrades

MPC has been the subject of several recent analyst reports. Wells Fargo & Company lowered their target price on Marathon Petroleum from $227.00 to $223.00 and set an “overweight” rating for the company in a research note on Thursday, June 6th. Piper Sandler lowered their target price on Marathon Petroleum from $204.00 to $190.00 and set a “neutral” rating for the company in a research note on Tuesday, May 14th. Barclays decreased their price target on Marathon Petroleum from $221.00 to $195.00 and set an “overweight” rating for the company in a research note on Monday, May 6th. Mizuho lifted their price target on Marathon Petroleum from $200.00 to $203.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Finally, StockNews.com downgraded Marathon Petroleum from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 9th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $193.92.

About Marathon Petroleum

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.