Jackson Square Capital LLC Makes New Investment in Marathon Petroleum Co. (NYSE:MPC)

Jackson Square Capital LLC acquired a new stake in Marathon Petroleum Co. (NYSE:MPC) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,633 shares of the oil and gas company’s stock, valued at approximately $238,000.

A number of other institutional investors have also recently made changes to their positions in MPC. Fourth Dimension Wealth LLC acquired a new position in shares of Marathon Petroleum in the fourth quarter valued at approximately $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in Marathon Petroleum in the fourth quarter worth approximately $27,000. Asset Planning Inc purchased a new position in Marathon Petroleum in the fourth quarter worth approximately $28,000. Sierra Ocean LLC purchased a new position in Marathon Petroleum in the fourth quarter worth approximately $31,000. Finally, Cape Investment Advisory Inc. lifted its stake in Marathon Petroleum by 762.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 267 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of MPC opened at $165.99 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The stock has a market capitalization of $50.99 billion, a P/E ratio of 16.72, a P/E/G ratio of 3.11 and a beta of 0.89. The company’s fifty day moving average is $147.49 and its two-hundred day moving average is $146.44. Marathon Petroleum Co. has a 1 year low of $115.10 and a 1 year high of $183.31.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.16. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The business had revenue of $31.85 billion for the quarter, compared to analysts’ expectations of $28.91 billion. During the same period in the prior year, the company posted $2.58 EPS. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, sell-side analysts predict that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were paid a dividend of $0.91 per share. The ex-dividend date was Wednesday, May 21st. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.19%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 51.20%.

Analyst Upgrades and Downgrades

MPC has been the subject of a number of recent research reports. Piper Sandler decreased their price target on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Barclays boosted their price objective on shares of Marathon Petroleum from $141.00 to $159.00 and gave the stock an “overweight” rating in a research report on Monday, May 12th. Morgan Stanley reduced their price objective on shares of Marathon Petroleum from $175.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. TD Cowen boosted their price objective on shares of Marathon Petroleum from $152.00 to $163.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Wells Fargo & Company boosted their price objective on shares of Marathon Petroleum from $180.00 to $182.00 and gave the stock an “overweight” rating in a research report on Wednesday. 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 given a strong buy rating to the stock. According to data from MarketBeat, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus price target of $176.21.

About Marathon Petroleum

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.