Comerica Bank Purchases 4,103 Shares of Marathon Petroleum Co. (NYSE:MPC)

Comerica Bank boosted its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 4.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 94,047 shares of the oil and gas company’s stock after buying an additional 4,103 shares during the period. Comerica Bank’s holdings in Marathon Petroleum were worth $13,120,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MPC. Wellington Management Group LLP boosted its position in shares of Marathon Petroleum by 78.1% during the 4th quarter. Wellington Management Group LLP now owns 9,961,503 shares of the oil and gas company’s stock valued at $1,389,630,000 after acquiring an additional 4,367,774 shares during the last quarter. Demars Financial Group LLC grew its stake in shares of Marathon Petroleum by 16,338.3% in the 4th quarter. Demars Financial Group LLC now owns 4,177,133 shares of the oil and gas company’s stock worth $582,710,000 after buying an additional 4,151,722 shares in the last quarter. Norges Bank bought a new stake in Marathon Petroleum during the fourth quarter worth approximately $453,427,000. Boston Partners raised its position in 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, Pacer Advisors Inc. lifted its stake 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 last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

MPC has been the topic of several recent research reports. Tudor Pickering upgraded Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. Morgan Stanley lowered their target price on shares of Marathon Petroleum from $175.00 to $160.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Raymond James cut their price target on shares of Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating on the stock in a report on Wednesday, April 9th. 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. Finally, Wells Fargo & Company reduced their price target on Marathon Petroleum from $185.00 to $175.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $174.21.

Insider Activity

In other news, insider Ricky D. Hessling purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was acquired at an average cost of $134.72 per share, with a total value of $269,440.00. Following the completion of the transaction, the insider now owns 12,162 shares in the company, valued at $1,638,464.64. This represents a 19.68 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Evan Bayh acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was purchased at an average cost of $133.70 per share, for a total transaction of $133,700.00. Following the transaction, the director now owns 69,305 shares in the company, valued at approximately $9,266,078.50. The trade was a 1.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.21% of the company’s stock.

Marathon Petroleum Price Performance

MPC opened at $141.53 on Friday. The company has a market capitalization of $44.09 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 3.11 and a beta of 1.04. 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 12-month low of $115.10 and a 12-month high of $184.77. The business’s fifty day simple moving average is $137.08 and its 200-day simple moving average is $145.54.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.71. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The business had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $31.94 billion. During the same quarter last year, the firm posted $3.98 EPS. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. On average, equities research analysts anticipate that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be issued a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $3.64 dividend on an annualized basis and a yield of 2.57%. Marathon Petroleum’s dividend payout ratio is currently 36.66%.

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.