NEOS Investment Management LLC Raises Stake in Marathon Petroleum Co. (NYSE:MPC)

NEOS Investment Management LLC increased its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 30.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,260 shares of the oil and gas company’s stock after acquiring an additional 4,974 shares during the quarter. NEOS Investment Management LLC’s holdings in Marathon Petroleum were worth $2,966,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Marathon Petroleum during the fourth quarter worth $27,000. True Wealth Design LLC lifted its position in Marathon Petroleum by 672.7% during the third quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after buying an additional 148 shares during the period. Asset Planning Inc purchased a new stake in Marathon Petroleum in the 4th quarter valued at about $28,000. Sierra Ocean LLC purchased a new stake in Marathon Petroleum in the fourth quarter valued at approximately $31,000. Finally, Cape Investment Advisory Inc. increased its holdings in shares of Marathon Petroleum by 762.9% during the 4th quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company’s stock worth $42,000 after buying an additional 267 shares during the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MPC has been the topic of a number of research reports. Raymond James reissued a “strong-buy” rating on shares of Marathon Petroleum in a research note on Thursday. Mizuho cut their target price on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Barclays raised their price objective on shares of Marathon Petroleum from $159.00 to $161.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. Tudor Pickering raised Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Finally, TD Cowen restated a “buy” rating and set a $170.00 price target on shares of Marathon Petroleum in a report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $180.21.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $144.05 on Friday. The firm has a market cap of $44.88 billion, a price-to-earnings ratio of 14.51, a P/E/G ratio of 3.11 and a beta of 1.39. Marathon Petroleum Co. has a 1 year low of $130.54 and a 1 year high of $221.11. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The business has a fifty day simple moving average of $148.74 and a 200 day simple moving average of $151.59.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.71. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The business had revenue of $33.47 billion during the quarter, compared to analyst estimates of $31.94 billion. During the same period in the previous year, the company earned $3.98 EPS. The firm’s revenue was down 9.1% on a year-over-year basis. As a group, sell-side analysts predict that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th were paid a dividend of $0.91 per share. The ex-dividend date was Wednesday, February 19th. This represents a $3.64 annualized dividend and a dividend yield of 2.53%. Marathon Petroleum’s dividend payout ratio (DPR) is 36.66%.

Insider Activity

In related news, insider Ricky D. Hessling acquired 2,000 shares of the stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average price of $134.72 per share, with a total value of $269,440.00. Following the acquisition, the insider now owns 12,162 shares in the company, valued at approximately $1,638,464.64. The trade was a 19.68 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Evan Bayh bought 1,000 shares of Marathon Petroleum stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average price of $133.70 per share, with a total value of $133,700.00. Following the completion of the acquisition, the director now owns 69,305 shares in the company, valued at approximately $9,266,078.50. The trade was a 1.46 % increase in their position. The disclosure for this purchase can be found here. 0.21% of the stock is owned by insiders.

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.