Parr Mcknight Wealth Management Group LLC Takes $331,000 Position in Marathon Petroleum Co. (NYSE:MPC)

Parr Mcknight Wealth Management Group LLC purchased a new position in shares of Marathon Petroleum Co. (NYSE:MPC) in the fourth quarter, Holdings Channel reports. The fund purchased 2,376 shares of the oil and gas company’s stock, valued at approximately $331,000.

Several other institutional investors have also recently made changes to their positions in MPC. SWS Partners boosted its position in Marathon Petroleum by 19.0% during the fourth quarter. SWS Partners now owns 17,577 shares of the oil and gas company’s stock worth $2,452,000 after purchasing an additional 2,806 shares in the last quarter. Greatmark Investment Partners Inc. grew its holdings in shares of Marathon Petroleum by 3.5% in the fourth quarter. Greatmark Investment Partners Inc. now owns 161,171 shares of the oil and gas company’s stock valued at $22,483,000 after purchasing an additional 5,476 shares during the period. TCTC Holdings LLC grew its stake in shares of Marathon Petroleum by 3.3% in the 4th quarter. TCTC Holdings LLC now owns 91,256 shares of the oil and gas company’s stock valued at $12,730,000 after buying an additional 2,892 shares during the period. Cambridge Financial Group Inc. purchased a new position in Marathon Petroleum in the fourth quarter worth approximately $5,624,000. Finally, Nilsine Partners LLC lifted its stake in shares of Marathon Petroleum by 5.6% in the 4th quarter. Nilsine Partners LLC now owns 32,683 shares of the oil and gas company’s stock valued at $4,559,000 after purchasing an additional 1,746 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Up 0.2%

MPC stock opened at $159.18 on Friday. Marathon Petroleum Co. has a 12 month low of $115.10 and a 12 month high of $183.31. 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 company has a market cap of $48.90 billion, a price-to-earnings ratio of 16.03, a price-to-earnings-growth ratio of 3.11 and a beta of 0.87. The company has a fifty day moving average price of $141.58 and a 200 day moving average price of $146.05.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.16. The company had revenue of $31.85 billion for the quarter, compared to analysts’ expectations of $28.91 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. Marathon Petroleum’s revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.58 EPS. Sell-side analysts expect that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

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 given a dividend of $0.91 per share. The ex-dividend date is Wednesday, May 21st. This represents a $3.64 annualized dividend and a dividend yield of 2.29%. Marathon Petroleum’s payout ratio is currently 51.20%.

Insider Transactions at Marathon Petroleum

In other news, Director Evan Bayh purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average price of $133.70 per share, with a total value of $133,700.00. Following the purchase, the director now directly owns 69,305 shares of the company’s stock, valued at $9,266,078.50. This represents a 1.46% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ricky D. Hessling bought 2,000 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were acquired at an average price of $134.72 per share, with a total value of $269,440.00. Following the completion of the acquisition, the insider now directly owns 12,162 shares in the company, 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.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MPC shares. Tudor Pickering raised Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Scotiabank reduced their price target on shares of Marathon Petroleum from $169.00 to $147.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Raymond James decreased their price objective 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. Morgan Stanley dropped 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. Finally, Barclays upped their price target on Marathon Petroleum from $141.00 to $159.00 and gave the stock an “overweight” rating in a research note on Monday, May 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and an average target price of $175.29.

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.