Vanguard Group Inc. lowered its holdings in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,106,890 shares of the oil and gas company's stock after selling 1,029,852 shares during the quarter. Vanguard Group Inc. owned 9.68% of Marathon Petroleum worth $4,339,411,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new position in Marathon Petroleum during the fourth quarter worth about $27,000. True Wealth Design LLC lifted its holdings in shares of Marathon Petroleum by 672.7% in the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company's stock worth $28,000 after acquiring an additional 148 shares during the last quarter. Asset Planning Inc purchased a new position in shares of Marathon Petroleum during the 4th quarter worth approximately $28,000. Sierra Ocean LLC acquired a new stake in Marathon Petroleum in the 4th quarter valued at approximately $31,000. Finally, Cape Investment Advisory Inc. raised its position in Marathon Petroleum by 762.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company's stock valued at $42,000 after purchasing an additional 267 shares during the period. 76.77% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Marathon Petroleum news, insider Ricky D. Hessling bought 2,000 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average cost 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. The trade was a 19.68 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 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 acquired at an average price of $133.70 per share, with a total value of $133,700.00. Following the purchase, the director now owns 69,305 shares in the company, valued at $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. 0.21% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on MPC. Barclays lifted their price objective on Marathon Petroleum from $159.00 to $161.00 and gave the company an "overweight" rating in a research note on Friday, March 14th. Piper Sandler dropped their target price on Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. Tudor Pickering raised shares of Marathon Petroleum from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 4th. Mizuho lowered their price objective on shares of Marathon Petroleum from $175.00 to $174.00 and set a "neutral" rating for the company in a research note on Monday, December 16th. Finally, TD Cowen reaffirmed a "buy" rating and set a $170.00 target price on shares of Marathon Petroleum in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $180.21.
Read Our Latest Stock Report on Marathon Petroleum
Marathon Petroleum Stock Down 2.2 %
NYSE MPC traded down $3.30 during trading on Friday, reaching $144.05. 1,689,079 shares of the company's stock were exchanged, compared to its average volume of 2,647,085. Marathon Petroleum Co. has a 1 year low of $130.54 and a 1 year high of $221.11. The stock has a market cap of $44.88 billion, a P/E ratio of 14.51, a price-to-earnings-growth ratio of 3.11 and a beta of 1.39. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The company has a 50 day moving average price of $148.74 and a two-hundred day moving average price of $151.59.
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 firm 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 quarterly revenue was down 9.1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.98 earnings per share. On average, equities research analysts anticipate that Marathon Petroleum Co. will post 8.47 EPS for the current fiscal year.
Marathon Petroleum Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend was Wednesday, February 19th. Marathon Petroleum's payout ratio is currently 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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