Independent Advisor Alliance Grows Position in Marathon Petroleum Co. (NYSE:MPC)

Independent Advisor Alliance raised its stake in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 28.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,252 shares of the oil and gas company's stock after acquiring an additional 2,075 shares during the quarter. Independent Advisor Alliance's holdings in Marathon Petroleum were worth $1,291,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in shares of Marathon Petroleum by 342.1% in the third quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company's stock valued at $911,274,000 after purchasing an additional 4,328,470 shares during the period. Pacer Advisors Inc. raised its position in shares of Marathon Petroleum by 22.3% in the fourth quarter. Pacer Advisors Inc. now owns 3,552,655 shares of the oil and gas company's stock valued at $495,595,000 after purchasing an additional 647,045 shares during the period. National Bank of Canada FI raised its position in shares of Marathon Petroleum by 212.9% in the third quarter. National Bank of Canada FI now owns 846,756 shares of the oil and gas company's stock valued at $137,945,000 after purchasing an additional 576,119 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Marathon Petroleum by 1,204.8% in 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 during the period. Finally, Amundi raised its position in shares of Marathon Petroleum by 18.0% in the fourth quarter. Amundi now owns 2,807,566 shares of the oil and gas company's stock valued at $398,388,000 after purchasing an additional 428,708 shares during the period. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MPC. Barclays boosted their price target on shares of Marathon Petroleum from $159.00 to $161.00 and gave the company an "overweight" rating in a research report on Friday, March 14th. Wells Fargo & Company raised their price objective on shares of Marathon Petroleum from $182.00 to $183.00 and gave the company an "overweight" rating in a research report on Wednesday, February 5th. Tudor Pickering raised shares of Marathon Petroleum from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 4th. Piper Sandler cut their price target on shares of Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. Finally, TD Cowen reissued a "buy" rating and issued a $170.00 price target on shares of Marathon Petroleum in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $182.13.

Insider Transactions at Marathon Petroleum

In other news, insider Ricky D. Hessling purchased 2,000 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was acquired at an average cost of $134.72 per share, for a total transaction of $269,440.00. Following the completion of the transaction, the insider now directly owns 12,162 shares in the company, valued at $1,638,464.64. This trade represents a 19.68 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Evan Bayh purchased 1,000 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was purchased at an average price of $133.70 per share, with a total value of $133,700.00. Following the completion of the transaction, the director now owns 69,305 shares of the company's stock, valued at approximately $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. Company insiders own 0.21% of the company's stock.

Marathon Petroleum Stock Up 2.3 %

NYSE MPC traded up $3.37 during trading hours on Wednesday, reaching $149.37. 3,591,346 shares of the company's stock traded hands, compared to its average volume of 2,481,101. Marathon Petroleum Co. has a 52-week low of $130.54 and a 52-week high of $221.11. The firm has a market cap of $46.53 billion, a PE ratio of 15.04, a PEG ratio of 3.11 and a beta of 1.39. The firm has a 50-day simple moving average of $148.56 and a 200 day simple moving average of $152.54. 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 issued its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, beating 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 company had revenue of $33.47 billion during the quarter, compared to analysts' expectations of $31.94 billion. During the same period last year, the company posted $3.98 EPS. Marathon Petroleum's revenue was down 9.1% on a year-over-year basis. Sell-side analysts anticipate that Marathon Petroleum Co. will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th were paid a $0.91 dividend. The ex-dividend date was Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.44%. Marathon Petroleum's dividend payout ratio is presently 36.66%.

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.