Greatmark Investment Partners Inc. Increases Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Greatmark Investment Partners Inc. grew its holdings in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 3.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 161,171 shares of the oil and gas company's stock after acquiring an additional 5,476 shares during the period. Marathon Petroleum comprises 3.1% of Greatmark Investment Partners Inc.'s holdings, making the stock its 10th largest holding. Greatmark Investment Partners Inc. owned about 0.05% of Marathon Petroleum worth $22,483,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. HMV Wealth Advisors LLC bought a new position in shares of Marathon Petroleum during the fourth quarter valued at $832,000. Sienna Gestion raised its stake in shares of Marathon Petroleum by 53.8% during the fourth quarter. Sienna Gestion now owns 55,609 shares of the oil and gas company's stock valued at $7,756,000 after acquiring an additional 19,450 shares during the last quarter. Postrock Partners LLC acquired a new stake in shares of Marathon Petroleum during the fourth quarter worth $358,000. Intact Investment Management Inc. increased its position in shares of Marathon Petroleum by 19.0% during the fourth quarter. Intact Investment Management Inc. now owns 500 shares of the oil and gas company's stock worth $70,000 after buying an additional 80 shares during the period. Finally, Alpine Woods Capital Investors LLC increased its position in shares of Marathon Petroleum by 27.5% during the fourth quarter. Alpine Woods Capital Investors LLC now owns 12,365 shares of the oil and gas company's stock worth $1,725,000 after buying an additional 2,669 shares during the period. Institutional investors own 76.77% of the company's stock.

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Marathon Petroleum Stock Up 2.3 %

Shares of Marathon Petroleum stock traded up $3.37 during trading hours on Wednesday, reaching $149.37. The company's stock had a trading volume of 3,591,357 shares, compared to its average volume of 2,481,101. Marathon Petroleum Co. has a one year low of $130.54 and a one year high of $221.11. The company has a market capitalization of $46.53 billion, a P/E ratio of 15.04, a P/E/G ratio of 3.11 and a beta of 1.39. The stock's fifty day simple moving average is $148.56 and its two-hundred day simple moving average is $152.54. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share 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 firm had revenue of $33.47 billion for the quarter, compared to analyst estimates of $31.94 billion. During the same period last year, the firm earned $3.98 earnings per share. The business's quarterly revenue was down 9.1% compared to the same quarter last year. On average, research analysts forecast that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

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

Insider Activity at Marathon Petroleum

In other news, Director Evan Bayh purchased 1,000 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average cost of $133.70 per share, with a total value of $133,700.00. Following the completion of the transaction, the director now directly 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ricky D. Hessling purchased 2,000 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased 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 of the company's stock, valued at $1,638,464.64. This represents a 19.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.21% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MPC. TD Cowen reiterated a "buy" rating and set a $170.00 price objective on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Tudor Pickering upgraded shares of Marathon Petroleum from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 4th. Piper Sandler decreased 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. Barclays increased their price objective on shares of Marathon Petroleum from $159.00 to $161.00 and gave the stock an "overweight" rating in a research report on Friday, March 14th. Finally, Mizuho reduced their price target 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Marathon Petroleum currently has an average rating of "Moderate Buy" and an average target price of $182.13.

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.