Sagespring Wealth Partners LLC Takes Position in Marathon Petroleum Co. (NYSE:MPC)

Sagespring Wealth Partners LLC acquired a new stake in Marathon Petroleum Co. (NYSE:MPC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 28,451 shares of the oil and gas company's stock, valued at approximately $3,969,000.

Several other hedge funds have also recently bought and sold shares of MPC. Kohmann Bosshard Financial Services LLC bought a new position in Marathon Petroleum during the 4th quarter worth $27,000. Asset Planning Inc bought a new stake in Marathon Petroleum in the 4th quarter valued at about $28,000. Sierra Ocean LLC acquired a new stake in shares of Marathon Petroleum in the fourth quarter valued at approximately $31,000. Cape Investment Advisory Inc. increased its stake in Marathon Petroleum by 762.9% during the 4th quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company's stock worth $42,000 after acquiring an additional 267 shares during the period. Finally, OFI Invest Asset Management bought a new stake in shares of Marathon Petroleum during the 4th quarter valued at $44,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Evan Bayh bought 1,000 shares of the company's stock in a transaction dated 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 completion of the acquisition, the director now directly owns 69,305 shares of the company's stock, valued at $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 firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average price of $134.72 per share, with a total value of $269,440.00. Following the acquisition, 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 position. The disclosure for this purchase can be found here. Corporate insiders own 0.25% of the company's stock.

Marathon Petroleum Trading Up 2.8 %

Shares of MPC traded up $3.48 during trading hours on Friday, hitting $127.55. 2,387,680 shares of the stock were exchanged, compared to its average volume of 2,697,180. 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 market capitalization of $39.74 billion, a P/E ratio of 12.85, a price-to-earnings-growth ratio of 3.11 and a beta of 1.04. The business has a 50-day moving average of $141.36 and a 200-day moving average of $147.85. Marathon Petroleum Co. has a fifty-two week low of $115.10 and a fifty-two week high of $203.06.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.71. The business had revenue of $33.47 billion during the quarter, compared to the consensus estimate 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 for the quarter was down 9.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.98 earnings per share. On average, research analysts expect that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 19th were paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend was Wednesday, February 19th. Marathon Petroleum's dividend payout ratio (DPR) is currently 36.66%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MPC. Tudor Pickering upgraded shares of Marathon Petroleum from a "strong sell" rating to a "hold" rating in a research note on Tuesday, February 4th. Scotiabank cut their target price on Marathon Petroleum from $169.00 to $147.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. Wells Fargo & Company dropped 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. Barclays reduced their price target on shares of Marathon Petroleum from $161.00 to $141.00 and set an "overweight" rating on the stock in a research note on Monday. Finally, Piper Sandler lowered their price target on shares of Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating for the company in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price 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.