Lighthouse Investment Partners LLC Invests $4.82 Million in Marathon Petroleum Corporation $MPC

Lighthouse Investment Partners LLC purchased a new position in Marathon Petroleum Corporation (NYSE:MPC) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 25,000 shares of the oil and gas company’s stock, valued at approximately $4,818,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Delos Wealth Advisors LLC acquired a new position in shares of Marathon Petroleum in the 2nd quarter worth approximately $25,000. IAG Wealth Partners LLC acquired a new stake in shares of Marathon Petroleum during the 3rd quarter valued at approximately $39,000. WFA of San Diego LLC bought a new position in Marathon Petroleum during the second quarter worth $33,000. Transce3nd LLC boosted its holdings in Marathon Petroleum by 10,250.0% in the second quarter. Transce3nd LLC now owns 207 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 205 shares during the period. Finally, GGM Financials LLC acquired a new position in Marathon Petroleum in the third quarter worth $46,000. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Stock Up 1.4%

Marathon Petroleum stock opened at $229.36 on Tuesday. The company has a 50-day simple moving average of $194.20 and a 200-day simple moving average of $188.67. The firm has a market capitalization of $67.60 billion, a P/E ratio of 17.18, a P/E/G ratio of 1.35 and a beta of 0.69. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.74 and a current ratio of 1.26. Marathon Petroleum Corporation has a one year low of $115.10 and a one year high of $236.10.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share for the quarter, beating the consensus estimate of $3.73 by $0.34. The firm had revenue of $32.57 billion for the quarter, compared to the consensus estimate of $30.89 billion. Marathon Petroleum had a net margin of 2.99% and a return on equity of 13.90%. Marathon Petroleum’s quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the firm posted $0.77 EPS. As a group, equities analysts expect that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 18th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Wednesday, February 18th. Marathon Petroleum’s payout ratio is 29.96%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Piper Sandler dropped their target price on shares of Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. JPMorgan Chase & Co. lowered their price objective on shares of Marathon Petroleum from $211.00 to $179.00 and set a “neutral” rating for the company in a research report on Tuesday, January 13th. Citigroup increased their price objective on shares of Marathon Petroleum from $182.00 to $210.00 and gave the stock a “neutral” rating in a research note on Monday, February 9th. Wall Street Zen raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Finally, BMO Capital Markets upped their target price on Marathon Petroleum from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Tuesday, March 3rd. Eleven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $204.25.

Insider Buying and Selling at Marathon Petroleum

In other news, insider Ricky D. Hessling sold 1,037 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $229.08, for a total transaction of $237,555.96. Following the completion of the transaction, the insider directly owned 9,151 shares in the company, valued at approximately $2,096,311.08. The trade was a 10.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.25% of the company’s stock.

Marathon Petroleum Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.