AssuredPartners Investment Advisors LLC Acquires New Stake in Marathon Petroleum Co. (NYSE:MPC)

AssuredPartners Investment Advisors LLC bought a new stake in Marathon Petroleum Co. (NYSE:MPC - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 4,730 shares of the oil and gas company's stock, valued at approximately $660,000.

A number of other institutional investors have also modified their holdings of MPC. Centaurus Financial Inc. grew its holdings in Marathon Petroleum by 18.8% in the third quarter. Centaurus Financial Inc. now owns 1,388 shares of the oil and gas company's stock valued at $226,000 after purchasing an additional 220 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Marathon Petroleum by 44.3% during the 3rd quarter. Fisher Asset Management LLC now owns 15,865 shares of the oil and gas company's stock worth $2,585,000 after buying an additional 4,868 shares during the last quarter. Dai ichi Life Insurance Company Ltd raised its position in shares of Marathon Petroleum by 40.5% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 8,810 shares of the oil and gas company's stock worth $1,435,000 after buying an additional 2,541 shares during the period. Townsquare Capital LLC boosted its holdings in Marathon Petroleum by 14.8% in the third quarter. Townsquare Capital LLC now owns 46,365 shares of the oil and gas company's stock valued at $7,553,000 after acquiring an additional 5,972 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Marathon Petroleum during the third quarter valued at about $4,073,000. Institutional investors and hedge funds own 76.77% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Barclays lifted their price objective on Marathon Petroleum from $159.00 to $161.00 and gave the company an "overweight" rating in a research note on Friday, March 14th. Mizuho decreased their price objective on shares of Marathon Petroleum from $175.00 to $174.00 and set a "neutral" rating for the company in a research note on Monday, December 16th. Tudor Pickering raised shares of Marathon Petroleum from a "strong sell" rating to a "hold" rating in a research note on Tuesday, February 4th. TD Cowen reaffirmed a "buy" rating and issued a $170.00 target price on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Finally, Piper Sandler lowered their price objective on shares of Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Marathon Petroleum has an average rating of "Moderate Buy" and an average target price of $180.21.

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Marathon Petroleum Stock Down 1.2 %

NYSE:MPC traded down $1.81 during mid-day trading on Tuesday, reaching $143.88. The stock had a trading volume of 602,039 shares, compared to its average volume of 2,638,507. The stock's 50 day simple moving average is $148.60 and its two-hundred day simple moving average is $151.35. Marathon Petroleum Co. has a 1-year low of $130.54 and a 1-year high of $221.11. The company has a market capitalization of $44.82 billion, a price-to-earnings ratio of 14.47, a price-to-earnings-growth ratio of 3.11 and a beta of 1.39. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted 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. The business had revenue of $33.47 billion for the quarter, compared to analyst estimates of $31.94 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The business's revenue was down 9.1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.98 EPS. Equities analysts anticipate that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th were paid a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a yield of 2.53%. Marathon Petroleum's payout ratio is currently 36.66%.

Insider Activity

In other news, insider Ricky D. Hessling purchased 2,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average price of $134.72 per share, for a total transaction of $269,440.00. Following the completion of the transaction, the insider now owns 12,162 shares of the company's stock, valued at approximately $1,638,464.64. The trade was a 19.68 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Evan Bayh bought 1,000 shares of Marathon Petroleum stock in a transaction on Wednesday, March 5th. The shares were purchased at an average cost of $133.70 per share, with a total value of $133,700.00. Following the completion of the purchase, the director now directly owns 69,305 shares in the company, valued at $9,266,078.50. This trade represents a 1.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.21% of the company's stock.

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.