New Age Alpha Advisors LLC bought a new position in Marathon Petroleum Co. (NYSE:MPC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 8,548 shares of the oil and gas company's stock, valued at approximately $1,192,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Wellington Management Group LLP lifted its stake in 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 worth $911,274,000 after purchasing an additional 4,328,470 shares during the last quarter. Bank of New York Mellon Corp grew its position in Marathon Petroleum by 7.0% during the 4th quarter. Bank of New York Mellon Corp now owns 4,803,951 shares of the oil and gas company's stock worth $670,151,000 after acquiring an additional 315,786 shares during the last quarter. Pacer Advisors Inc. increased its stake in Marathon Petroleum by 22.3% in 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 purchasing an additional 647,045 shares during the period. Boston Partners boosted its stake in shares of Marathon Petroleum by 37.4% during the fourth quarter. Boston Partners now owns 3,436,704 shares of the oil and gas company's stock valued at $480,501,000 after purchasing an additional 935,042 shares during the period. Finally, Norges Bank bought a new stake in Marathon Petroleum in the 4th quarter worth $453,427,000. 76.77% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
MPC has been the topic of a number of recent analyst reports. TD Cowen reiterated a "buy" rating and issued 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 report on Tuesday, February 4th. Wells Fargo & Company increased their target price on Marathon Petroleum from $183.00 to $185.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Piper Sandler reduced their price target on Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating for the company in a report on Friday, March 7th. Finally, Barclays upped their target price on shares of Marathon Petroleum from $159.00 to $161.00 and gave the stock an "overweight" rating in a research note on Friday, March 14th. 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 given a strong buy rating to the company. According to MarketBeat.com, Marathon Petroleum has an average rating of "Moderate Buy" and a consensus target price of $180.29.
Read Our Latest Report on MPC
Insider Activity at Marathon Petroleum
In related news, insider Ricky D. Hessling acquired 2,000 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were 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 approximately $1,638,464.64. This trade represents a 19.68 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Evan Bayh purchased 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average price of $133.70 per share, for a total transaction of $133,700.00. Following the acquisition, 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 position. The disclosure for this purchase can be found here. 0.21% of the stock is owned by insiders.
Marathon Petroleum Price Performance
Shares of MPC stock traded down $7.45 on Friday, hitting $121.14. 1,686,860 shares of the stock traded hands, compared to its average volume of 2,834,110. The firm has a market cap of $37.74 billion, a price-to-earnings ratio of 12.20, a PEG 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 firm has a 50 day simple moving average of $148.02 and a two-hundred day simple moving average of $151.05. Marathon Petroleum Co. has a 52 week low of $115.97 and a 52 week high of $221.11.
Marathon Petroleum (NYSE:MPC - Get Free Report) last announced 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. The company had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $31.94 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. Marathon Petroleum's revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.98 EPS. As a group, equities research analysts predict that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.
Marathon Petroleum Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 19th were issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date was Wednesday, February 19th. Marathon Petroleum's dividend payout ratio (DPR) is presently 36.66%.
About Marathon Petroleum
(
Free Report)
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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