NewEdge Advisors LLC Has $12.15 Million Holdings in Marathon Petroleum Co. (NYSE:MPC)

NewEdge Advisors LLC reduced its stake in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 10.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 87,111 shares of the oil and gas company's stock after selling 10,389 shares during the period. NewEdge Advisors LLC's holdings in Marathon Petroleum were worth $12,152,000 as of its most recent filing with the Securities and Exchange Commission.

Several 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 holdings in shares of Marathon Petroleum by 78.1% in the 4th 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 purchasing an additional 4,367,774 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Marathon Petroleum by 7.0% in 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. boosted its position in shares of 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 valued at $495,595,000 after purchasing an additional 647,045 shares during the period. Boston Partners raised its holdings in Marathon Petroleum by 37.4% during the 4th quarter. Boston Partners now owns 3,436,704 shares of the oil and gas company's stock worth $480,501,000 after buying an additional 935,042 shares during the period. Finally, Invesco Ltd. increased its position in shares of Marathon Petroleum by 2.7% in the fourth quarter. Invesco Ltd. now owns 3,400,826 shares of the oil and gas company's stock worth $474,415,000 after acquiring an additional 88,901 shares in the last quarter. Institutional investors own 76.77% of the company's stock.

Marathon Petroleum Stock Performance

Marathon Petroleum stock traded down $0.96 on Monday, reaching $126.76. 2,424,971 shares of the stock were exchanged, compared to its average volume of 2,699,820. 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 twelve month low of $115.10 and a twelve month high of $201.36. The firm has a fifty day moving average price of $140.81 and a two-hundred day moving average price of $147.27. The stock has a market cap of $39.49 billion, a PE ratio of 12.77, a PEG ratio of 3.11 and a beta of 1.04.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.71. The business 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 firm's revenue was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.98 EPS. Sell-side analysts anticipate that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 19th were paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.87%. The ex-dividend date was Wednesday, February 19th. Marathon Petroleum's payout ratio is presently 36.66%.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, insider Ricky D. Hessling purchased 2,000 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were purchased at an average price of $134.72 per share, for a total transaction of $269,440.00. Following the completion of the purchase, the insider now directly owns 12,162 shares of the company's stock, valued at approximately $1,638,464.64. This represents a 19.68 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Evan Bayh acquired 1,000 shares of Marathon Petroleum stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average cost of $133.70 per share, with a total value of $133,700.00. Following the completion of 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. Insiders own 0.21% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MPC shares. Raymond James cut their target price on shares of Marathon Petroleum from $193.00 to $183.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, April 9th. Wells Fargo & Company decreased their price objective on Marathon Petroleum from $185.00 to $175.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Piper Sandler lowered their price objective on shares of Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. Tudor Pickering upgraded shares of Marathon Petroleum from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 4th. Finally, Barclays lowered their target price on Marathon Petroleum from $161.00 to $141.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $175.79.

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.