Marathon Petroleum Co. (NYSE:MPC) Shares Sold by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC lowered its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 30.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,269 shares of the oil and gas company’s stock after selling 2,751 shares during the period. Beacon Pointe Advisors LLC’s holdings in Marathon Petroleum were worth $874,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Wellington Management Group LLP increased its position in 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 valued at $1,389,630,000 after acquiring an additional 4,367,774 shares during the period. Bank of New York Mellon Corp grew its stake 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 valued at $670,151,000 after purchasing an additional 315,786 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Marathon Petroleum by 11.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,399,977 shares of the oil and gas company’s stock worth $613,624,000 after purchasing an additional 452,043 shares during the last quarter. Demars Financial Group LLC lifted its holdings in shares of Marathon Petroleum by 16,338.3% during the fourth quarter. Demars Financial Group LLC now owns 4,177,133 shares of the oil and gas company’s stock worth $582,710,000 after purchasing an additional 4,151,722 shares during the period. Finally, Pacer Advisors Inc. grew its position in 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 buying an additional 647,045 shares during the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Up 2.8 %

MPC stock opened at $141.53 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. Marathon Petroleum Co. has a 12 month low of $115.10 and a 12 month high of $184.77. The firm has a market capitalization of $44.09 billion, a PE ratio of 14.25, a P/E/G ratio of 3.11 and a beta of 1.04. The company’s 50 day simple moving average is $137.08 and its 200-day simple moving average is $145.54.

Marathon Petroleum (NYSE:MPC) last released its quarterly 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 company 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 business’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.98 earnings per share. Equities analysts expect that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

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

Analyst Upgrades and Downgrades

MPC has been the subject of a number of analyst reports. Piper Sandler cut their price objective on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Barclays reduced their price objective on shares of Marathon Petroleum from $161.00 to $141.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Wells Fargo & Company cut their target price on Marathon Petroleum from $185.00 to $175.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Morgan Stanley decreased their price target on Marathon Petroleum from $175.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Finally, Raymond James reduced their target price on Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating for the company in a report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $174.21.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, insider Ricky D. Hessling purchased 2,000 shares of the stock in a transaction on Tuesday, March 11th. The stock was bought at an average price of $134.72 per share, for a total transaction 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Evan Bayh acquired 1,000 shares of the business’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 owns 69,305 shares in the company, valued at approximately $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. Insiders own 0.21% of the company’s stock.

About Marathon Petroleum

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.