Fulcrum Asset Management LLP Buys 10,617 Shares of Marathon Petroleum Corporation $MPC

Fulcrum Asset Management LLP grew its stake in Marathon Petroleum Corporation (NYSE:MPC) by 96,518.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,628 shares of the oil and gas company’s stock after buying an additional 10,617 shares during the period. Fulcrum Asset Management LLP’s holdings in Marathon Petroleum were worth $4,166,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Marathon Petroleum in the second quarter valued at $6,648,958,000. Bank of New York Mellon Corp purchased a new position in shares of Marathon Petroleum during the second quarter worth about $1,029,611,000. Bank of America Corp DE grew its holdings in shares of Marathon Petroleum by 1.6% during the first quarter. Bank of America Corp DE now owns 2,595,084 shares of the oil and gas company’s stock worth $633,668,000 after purchasing an additional 40,124 shares during the last quarter. Amundi increased its position in shares of Marathon Petroleum by 17.5% during the second quarter. Amundi now owns 2,237,930 shares of the oil and gas company’s stock worth $572,172,000 after purchasing an additional 332,551 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Marathon Petroleum by 16.7% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,508,489 shares of the oil and gas company’s stock worth $385,675,000 after purchasing an additional 215,686 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MPC has been the subject of a number of research analyst reports. Piper Sandler upped their target price on Marathon Petroleum from $462.00 to $466.00 and gave the company an “overweight” rating in a research report on Thursday, November 5th. The Goldman Sachs Group lifted their price target on Marathon Petroleum from $376.00 to $472.00 and gave the stock a “buy” rating in a research report on Monday, September 21st. Zacks Research upgraded Marathon Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 4th. TD Cowen increased their price objective on Marathon Petroleum from $450.00 to $478.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. Finally, Wells Fargo & Company increased their price objective on Marathon Petroleum from $560.00 to $564.00 and gave the company an “overweight” rating in a report on Wednesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $425.12.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $389.91 on Tuesday. The company has a 50-day simple moving average of $422.11 and a 200-day simple moving average of $296.41. Marathon Petroleum Corporation has a one year low of $161.93 and a one year high of $493.98. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.89 and a current ratio of 1.45. The stock has a market capitalization of $106.16 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 0.10 and a beta of 0.53.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, November 3rd. The oil and gas company reported $26.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $25.37 by $1.56. Marathon Petroleum had a return on equity of 55.82% and a net margin of 8.27%. The firm had revenue of $56.03 billion for the quarter, compared to analyst estimates of $46.60 billion. During the same quarter last year, the company posted $3.01 earnings per share. The business’s revenue was up 57.6% on a year-over-year basis. On average, analysts predict that Marathon Petroleum Corporation will post 66.31 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, November 18th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 13.75%.

Insiders Place Their Bets

In related news, insider Molly R. Benson sold 17,196 shares of Marathon Petroleum stock in a transaction on Monday, August 17th. The shares were sold at an average price of $358.57, for a total value of $6,165,969.72. Following the transaction, the insider directly owned 30,334 shares in the company, valued at $10,876,862.38. This trade represents a 36.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Shawn M. Lyon sold 1,000 shares of the business’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $375.75, for a total transaction of $375,750.00. Following the completion of the transaction, the senior vice president directly owned 11,194 shares in the company, valued at $4,206,145.50. This represents a 8.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 21,691 shares of company stock valued at $7,780,127. 0.17% of the stock is owned by company insiders.

Marathon Petroleum Profile

Marathon Petroleum Corporation is an integrated downstream energy company focused on refining, marketing, and transporting petroleum products. Its refineries produce fuels and other products, including gasoline, diesel, jet fuel, asphalt, and petrochemical feedstocks.

The company sells transportation fuels and related products through a network of branded locations and other wholesale and commercial channels, primarily in the United States. Its midstream operations, conducted largely through its affiliated partnership MPLX, include gathering, processing, and transporting natural gas and natural gas liquids, as well as storing and transporting crude oil and refined products.

Marathon Petroleum was established as an independent company in 2011, when it was spun off from Marathon Oil Corporation.