Ossiam Purchases 30,318 Shares of Marathon Petroleum Co. (NYSE:MPC)

Ossiam increased its stake in Marathon Petroleum Co. (NYSE:MPC) by 91.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,516 shares of the oil and gas company’s stock after acquiring an additional 30,318 shares during the period. Ossiam’s holdings in Marathon Petroleum were worth $3,507,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Clear Street Markets LLC lifted its stake in shares of Marathon Petroleum by 20.3% in the 2nd quarter. Clear Street Markets LLC now owns 69,395 shares of the oil and gas company’s stock valued at $4,193,000 after acquiring an additional 11,695 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Marathon Petroleum by 13.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 42,921 shares of the oil and gas company’s stock valued at $2,593,000 after acquiring an additional 5,176 shares during the last quarter. APG Asset Management N.V. lifted its stake in shares of Marathon Petroleum by 13.5% in the 1st quarter. APG Asset Management N.V. now owns 2,165,237 shares of the oil and gas company’s stock valued at $98,544,000 after acquiring an additional 258,351 shares during the last quarter. Occudo Quantitative Strategies LP lifted its stake in shares of Marathon Petroleum by 15.7% in the 1st quarter. Occudo Quantitative Strategies LP now owns 22,743 shares of the oil and gas company’s stock valued at $1,217,000 after acquiring an additional 3,078 shares during the last quarter. Finally, South State Corp bought a new stake in shares of Marathon Petroleum in the 2nd quarter valued at about $204,000. 76.24% of the stock is owned by institutional investors.

Shares of NYSE MPC traded up $0.53 during midday trading on Thursday, hitting $65.79. 24,161 shares of the stock traded hands, compared to its average volume of 6,460,438. The firm has a 50-day moving average of $59.54 and a two-hundred day moving average of $58.37. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.98 and a quick ratio of 1.52. Marathon Petroleum Co. has a one year low of $26.77 and a one year high of $66.14.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, August 3rd. The oil and gas company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.28. Marathon Petroleum had a negative return on equity of 3.09% and a net margin of 8.42%. The firm had revenue of $29.83 billion for the quarter, compared to analysts’ expectations of $21.24 billion. During the same period in the prior year, the firm earned ($1.33) EPS. The company’s revenue was up 142.5% compared to the same quarter last year. On average, equities analysts predict that Marathon Petroleum Co. will post 1.26 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 10th. Investors of record on Wednesday, August 18th were issued a $0.58 dividend. The ex-dividend date of this dividend was Tuesday, August 17th. This represents a $2.32 dividend on an annualized basis and a yield of 3.53%. Marathon Petroleum’s dividend payout ratio is currently -67.44%.

A number of research firms have recently weighed in on MPC. Wells Fargo & Company boosted their target price on Marathon Petroleum from $66.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, June 24th. Citigroup upped their target price on Marathon Petroleum from $67.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, October 7th. Piper Sandler upped their target price on Marathon Petroleum from $66.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, September 16th. Bank of America reiterated a “buy” rating and set a $83.00 target price on shares of Marathon Petroleum in a report on Wednesday, June 16th. Finally, Barclays upped their target price on Marathon Petroleum from $63.00 to $68.00 and gave the stock an “overweight” rating in a report on Thursday, October 7th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Marathon Petroleum has an average rating of “Buy” and an average price target of $70.33.

Marathon Petroleum Profile

Marathon Petroleum Corp. is an independent company, which engages in refining, marketing, and transportation of petroleum products in the United States. Itoperates through the following segments: Refining and Marketing; Retail; and Midstream. The Refining and 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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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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