Vestcor Inc Boosts Stake in Marathon Petroleum Co. (NYSE:MPC)

Vestcor Inc increased its holdings in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 59.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,262 shares of the oil and gas company's stock after purchasing an additional 12,063 shares during the period. Vestcor Inc's holdings in Marathon Petroleum were worth $4,501,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MPC. Gladius Capital Management LP bought a new stake in Marathon Petroleum in the third quarter valued at approximately $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in Marathon Petroleum during the 4th quarter valued at $27,000. MeadowBrook Investment Advisors LLC boosted its position in Marathon Petroleum by 88.9% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company's stock valued at $28,000 after buying an additional 80 shares during the period. True Wealth Design LLC increased its position in shares of Marathon Petroleum by 672.7% in the third quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company's stock valued at $28,000 after acquiring an additional 148 shares during the period. Finally, Asset Planning Inc bought a new position in shares of Marathon Petroleum during the fourth quarter valued at about $28,000. Institutional investors own 76.77% of the company's stock.

Marathon Petroleum Stock Down 0.1 %

Shares of MPC traded down $0.16 on Tuesday, hitting $146.00. 2,797,798 shares of the stock traded hands, compared to its average volume of 2,475,507. 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 $45.48 billion, a PE ratio of 14.70, a P/E/G ratio of 3.11 and a beta of 1.39. The business has a 50 day simple moving average of $148.48 and a 200 day simple moving average of $152.76. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23.

Remove Ads

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings results 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. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The firm had revenue of $33.47 billion during the quarter, compared to analysts' expectations of $31.94 billion. During the same quarter in the previous year, the business earned $3.98 earnings per share. The company's revenue was down 9.1% on a year-over-year basis. As a group, equities analysts forecast that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th were paid a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.49%. Marathon Petroleum's dividend payout ratio is presently 36.66%.

Analysts Set New Price Targets

MPC has been the topic of a number of research analyst reports. TD Cowen restated a "buy" rating and set a $170.00 price target on shares of Marathon Petroleum in a report on Tuesday, December 10th. Raymond James raised their price target on Marathon Petroleum from $190.00 to $192.00 and gave the stock a "strong-buy" rating in a research note on Friday, January 17th. Piper Sandler reduced 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. Wells Fargo & Company raised their target price on shares of Marathon Petroleum from $182.00 to $183.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 5th. Finally, Tudor Pickering raised shares of Marathon Petroleum from a "strong sell" rating to a "hold" rating in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $182.13.

Insider Activity

In other news, Director Evan Bayh acquired 1,000 shares of Marathon Petroleum stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average price of $133.70 per share, for a total transaction of $133,700.00. Following the completion of the transaction, the director now owns 69,305 shares in the company, valued at $9,266,078.50. The trade was a 1.46 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ricky D. Hessling bought 2,000 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was 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 approximately $1,638,464.64. The trade was a 19.68 % increase in their position. The disclosure for this purchase can be found here. 0.21% of the stock is owned by corporate insiders.

Marathon Petroleum Company 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.