Marathon Petroleum Co. (NYSE:MPC) Shares Bought by Canopy Partners LLC

Canopy Partners LLC lifted its position in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 80.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,738 shares of the oil and gas company's stock after buying an additional 2,999 shares during the period. Canopy Partners LLC's holdings in Marathon Petroleum were worth $940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of MPC. Wellington Management Group LLP increased its position in Marathon Petroleum by 78.1% in the fourth quarter. Wellington Management Group LLP now owns 9,961,503 shares of the oil and gas company's stock worth $1,389,630,000 after buying an additional 4,367,774 shares in the last quarter. Norges Bank bought a new position in shares of Marathon Petroleum during the 4th quarter valued at approximately $453,427,000. Boston Partners increased its holdings in Marathon Petroleum by 37.4% in the 4th quarter. Boston Partners now owns 3,436,704 shares of the oil and gas company's stock worth $480,501,000 after acquiring an additional 935,042 shares in the last quarter. Pacer Advisors Inc. raised its stake in Marathon Petroleum by 22.3% during the 4th quarter. Pacer Advisors Inc. now owns 3,552,655 shares of the oil and gas company's stock worth $495,595,000 after acquiring an additional 647,045 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in Marathon Petroleum by 1,204.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company's stock valued at $75,757,000 after purchasing an additional 501,441 shares in the last quarter. Institutional investors own 76.77% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Mizuho dropped their target price on shares of Marathon Petroleum from $175.00 to $174.00 and set a "neutral" rating for the company in a report on Monday, December 16th. Piper Sandler reduced their target price on Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. Raymond James cut their price target on Marathon Petroleum from $193.00 to $183.00 and set a "strong-buy" rating for the company in a report on Wednesday. Wells Fargo & Company decreased their price objective on Marathon Petroleum from $185.00 to $175.00 and set an "overweight" rating on the stock in a report on Friday. Finally, Scotiabank reduced their price target on shares of Marathon Petroleum from $169.00 to $147.00 and set a "sector outperform" rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $177.21.

Marathon Petroleum Trading Up 1.4 %

Shares of MPC stock traded up $1.76 on Friday, reaching $123.29. 2,901,205 shares of the company's stock were exchanged, compared to its average volume of 2,687,936. The company's fifty day simple moving average is $143.65 and its 200 day simple moving average is $148.82. The stock has a market capitalization of $38.41 billion, a PE ratio of 12.42, a P/E/G ratio of 3.11 and a beta of 1.04. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a 52 week low of $115.10 and a 52 week high of $214.00.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.71. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The business had revenue of $33.47 billion for the quarter, compared to analyst estimates of $31.94 billion. During the same period last year, the company posted $3.98 earnings per share. The company's quarterly revenue was down 9.1% compared to the same quarter last year. As a group, analysts forecast that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th were issued 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 dividend yield of 2.95%. Marathon Petroleum's dividend payout ratio is presently 36.66%.

Insider Transactions at Marathon Petroleum

In related news, Director Evan Bayh acquired 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average cost of $133.70 per share, with a total value of $133,700.00. Following the transaction, the director now directly owns 69,305 shares of the company's stock, valued at $9,266,078.50. This trade represents a 1.46 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ricky D. Hessling purchased 2,000 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were bought at an average price of $134.72 per share, for a total transaction of $269,440.00. Following the purchase, the insider now directly owns 12,162 shares in the company, valued at $1,638,464.64. This represents a 19.68 % increase in their position. 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.