Essential Planning LLC. Buys New Holdings in Marathon Petroleum Co. (NYSE:MPC)

Essential Planning LLC. bought a new stake in Marathon Petroleum Co. (NYSE:MPC - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,250 shares of the oil and gas company's stock, valued at approximately $2,483,000.

A number of other large investors have also modified their holdings of the company. OLD Second National Bank of Aurora grew its stake in Marathon Petroleum by 7.2% in the fourth quarter. OLD Second National Bank of Aurora now owns 994 shares of the oil and gas company's stock valued at $139,000 after purchasing an additional 67 shares in the last quarter. Nixon Peabody Trust Co. grew its stake in Marathon Petroleum by 3.4% in the fourth quarter. Nixon Peabody Trust Co. now owns 2,068 shares of the oil and gas company's stock valued at $288,000 after purchasing an additional 68 shares in the last quarter. Lake Street Advisors Group LLC grew its stake in Marathon Petroleum by 1.6% in the fourth quarter. Lake Street Advisors Group LLC now owns 4,271 shares of the oil and gas company's stock valued at $596,000 after purchasing an additional 69 shares in the last quarter. American Trust grew its stake in Marathon Petroleum by 5.3% in the third quarter. American Trust now owns 1,397 shares of the oil and gas company's stock valued at $228,000 after purchasing an additional 70 shares in the last quarter. Finally, DT Investment Partners LLC grew its stake in Marathon Petroleum by 21.5% in the fourth quarter. DT Investment Partners LLC now owns 395 shares of the oil and gas company's stock valued at $55,000 after purchasing an additional 70 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $137.39 on Thursday. The stock has a market capitalization of $42.94 billion, a PE ratio of 13.84, a P/E/G 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. The business has a fifty day moving average price of $148.48 and a two-hundred day moving average price of $153.50. Marathon Petroleum Co. has a fifty-two week low of $130.54 and a fifty-two week high of $221.11.

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Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.71. The firm had revenue of $33.47 billion during the quarter, compared to analysts' expectations of $31.94 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The company's quarterly revenue was down 9.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.98 EPS. As a group, equities analysts predict that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders 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 annualized dividend and a yield of 2.65%. Marathon Petroleum's dividend payout ratio is presently 36.66%.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, Director Evan Bayh purchased 1,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was bought at an average price of $133.70 per share, with a total value of $133,700.00. Following the acquisition, the director now owns 69,305 shares of the company's stock, valued at approximately $9,266,078.50. This represents a 1.46 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MPC shares. Piper Sandler decreased their price target on Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. Tudor Pickering upgraded Marathon Petroleum from a "strong sell" rating to a "hold" rating in a research note on Tuesday, February 4th. TD Cowen reiterated a "buy" rating and set a $170.00 target price on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Wells Fargo & Company lifted their target price on Marathon Petroleum from $182.00 to $183.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 5th. Finally, Mizuho reduced their target price on Marathon Petroleum from $175.00 to $174.00 and set a "neutral" rating for the company in a research note on Monday, December 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $182.00.

Marathon Petroleum 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.

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