Tidal Investments LLC Has $8.88 Million Holdings in Marathon Petroleum Co. (NYSE:MPC)

Tidal Investments LLC boosted its position in Marathon Petroleum Co. (NYSE:MPC) by 19.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,149 shares of the oil and gas company’s stock after purchasing an additional 7,244 shares during the period. Tidal Investments LLC’s holdings in Marathon Petroleum were worth $8,883,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Blue Trust Inc. increased its position in Marathon Petroleum by 17.0% during the 4th quarter. Blue Trust Inc. now owns 1,743 shares of the oil and gas company’s stock valued at $263,000 after purchasing an additional 253 shares during the period. Global Retirement Partners LLC boosted its stake in shares of Marathon Petroleum by 6.3% in the 4th quarter. Global Retirement Partners LLC now owns 3,542 shares of the oil and gas company’s stock valued at $546,000 after purchasing an additional 209 shares during the last quarter. Caprock Group LLC increased its position in shares of Marathon Petroleum by 15.1% during the fourth quarter. Caprock Group LLC now owns 2,295 shares of the oil and gas company’s stock worth $341,000 after buying an additional 301 shares during the period. Realta Investment Advisors raised its stake in Marathon Petroleum by 1,382.0% during the fourth quarter. Realta Investment Advisors now owns 2,386 shares of the oil and gas company’s stock worth $354,000 after buying an additional 2,225 shares during the last quarter. Finally, Glass Jacobson Investment Advisors llc lifted its holdings in Marathon Petroleum by 12.2% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 1,720 shares of the oil and gas company’s stock valued at $255,000 after buying an additional 187 shares during the period. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Stock Performance

Shares of NYSE:MPC traded down $2.61 during mid-day trading on Thursday, reaching $174.41. The company had a trading volume of 244,910 shares, compared to its average volume of 2,649,104. The company’s 50-day moving average price is $171.78 and its 200-day moving average price is $178.51. Marathon Petroleum Co. has a one year low of $133.65 and a one year high of $221.11. The firm has a market cap of $61.45 billion, a price-to-earnings ratio of 8.84, a PEG ratio of 2.15 and a beta of 1.40. 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 (NYSE:MPC) last issued its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.25. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The firm had revenue of $32.71 billion for the quarter, compared to analysts’ expectations of $32.07 billion. During the same quarter in the prior year, the firm earned $6.09 EPS. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Marathon Petroleum Co. will post 13.84 EPS for the current fiscal year.

Marathon Petroleum announced that its Board of Directors has initiated a share repurchase plan on Tuesday, April 30th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to reacquire up to 7.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be given a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 1.89%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 16.48%.

Analyst Ratings Changes

Several research firms have recently weighed in on MPC. Piper Sandler lowered their price objective on Marathon Petroleum from $190.00 to $168.00 and set a “neutral” rating for the company in a research report on Friday, June 14th. Jefferies Financial Group raised their target price on Marathon Petroleum from $222.00 to $231.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Barclays reduced their price objective on Marathon Petroleum from $195.00 to $185.00 and set an “overweight” rating for the company in a research note on Monday, July 1st. Tudor Pickering upgraded shares of Marathon Petroleum to a “strong-buy” rating in a research note on Thursday, May 30th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Marathon Petroleum from $191.00 to $186.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $193.64.

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.