Sage Mountain Advisors LLC Buys 2,904 Shares of Marathon Petroleum Corporation $MPC

Sage Mountain Advisors LLC raised its stake in Marathon Petroleum Corporation (NYSE:MPC) by 128.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,164 shares of the oil and gas company’s stock after purchasing an additional 2,904 shares during the period. Sage Mountain Advisors LLC’s holdings in Marathon Petroleum were worth $995,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its stake in Marathon Petroleum by 30.9% during the fourth quarter. Brighton Jones LLC now owns 4,988 shares of the oil and gas company’s stock valued at $696,000 after acquiring an additional 1,178 shares during the period. Woodline Partners LP lifted its position in shares of Marathon Petroleum by 38.3% in the 1st quarter. Woodline Partners LP now owns 26,697 shares of the oil and gas company’s stock worth $3,889,000 after acquiring an additional 7,396 shares during the period. Sivia Capital Partners LLC grew its holdings in shares of Marathon Petroleum by 26.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,221 shares of the oil and gas company’s stock worth $369,000 after purchasing an additional 466 shares in the last quarter. Exchange Traded Concepts LLC increased its position in shares of Marathon Petroleum by 53.0% during the second quarter. Exchange Traded Concepts LLC now owns 6,833 shares of the oil and gas company’s stock valued at $1,135,000 after purchasing an additional 2,366 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in shares of Marathon Petroleum by 85.0% in the second quarter. Farther Finance Advisors LLC now owns 8,691 shares of the oil and gas company’s stock valued at $1,444,000 after purchasing an additional 3,993 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

NYSE MPC opened at $174.76 on Wednesday. Marathon Petroleum Corporation has a 1-year low of $115.10 and a 1-year high of $202.29. The company has a 50 day moving average of $180.90 and a 200-day moving average of $180.77. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 1.31. The firm has a market cap of $52.53 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 0.72 and a beta of 0.74.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, November 4th. The oil and gas company reported $3.01 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.01. Marathon Petroleum had a return on equity of 9.76% and a net margin of 2.13%.The business had revenue of $34.81 billion for the quarter, compared to analyst estimates of $31.06 billion. On average, equities analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 19th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.3%. This is a boost from Marathon Petroleum’s previous quarterly dividend of $0.91. The ex-dividend date was Wednesday, November 19th. Marathon Petroleum’s dividend payout ratio is 42.64%.

Analyst Ratings Changes

MPC has been the topic of a number of recent research reports. Wall Street Zen downgraded shares of Marathon Petroleum from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Morgan Stanley lifted their target price on shares of Marathon Petroleum from $182.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, October 3rd. Barclays dropped their price target on shares of Marathon Petroleum from $202.00 to $194.00 and set an “overweight” rating for the company in a research report on Tuesday, January 13th. Piper Sandler cut their price target on shares of Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Finally, BMO Capital Markets lowered their price objective on Marathon Petroleum from $208.00 to $200.00 and set an “outperform” rating on the stock in a research note on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $195.71.

About Marathon Petroleum

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.