Harbor Investment Advisory LLC Sells 188 Shares of Marathon Petroleum Co. (NYSE:MPC)

Harbor Investment Advisory LLC cut its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 4.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,489 shares of the oil and gas company’s stock after selling 188 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Marathon Petroleum were worth $654,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of MPC. Wellington Management Group LLP increased 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 purchasing an additional 4,367,774 shares during the last quarter. Demars Financial Group LLC grew its position in Marathon Petroleum by 16,338.3% during 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 acquiring an additional 4,151,722 shares during the last quarter. Norges Bank bought a new position in Marathon Petroleum during the 4th quarter worth approximately $453,427,000. GAMMA Investing LLC grew its position in Marathon Petroleum by 14,969.1% during the 1st quarter. GAMMA Investing LLC now owns 1,540,963 shares of the oil and gas company’s stock worth $224,503,000 after acquiring an additional 1,530,737 shares during the last quarter. Finally, Boston Partners grew its position in Marathon Petroleum by 37.4% during the 4th quarter. Boston Partners now owns 3,436,704 shares of the oil and gas company’s stock worth $480,501,000 after acquiring an additional 935,042 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MPC has been the topic of several recent research reports. Raymond James reduced their price target on Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, April 9th. Tudor Pickering upgraded Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Piper Sandler reduced their price target on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Barclays raised their price target on Marathon Petroleum from $141.00 to $159.00 and gave the stock an “overweight” rating in a research report on Monday, May 12th. Finally, Scotiabank cut their price objective on Marathon Petroleum from $169.00 to $147.00 and set a “sector outperform” rating on the stock in a research report on Friday, April 11th. One investment 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $175.29.

Insider Activity

In related news, Director Evan Bayh acquired 1,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was acquired at an average price of $133.70 per share, for a total transaction of $133,700.00. Following the completion of the purchase, the director now owns 69,305 shares of the company’s stock, valued at $9,266,078.50. This represents a 1.46% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ricky D. Hessling acquired 2,000 shares of the stock in a transaction on Tuesday, March 11th. The shares were bought at an average price of $134.72 per share, with a total value of $269,440.00. Following the purchase, 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 disclosure for this purchase can be found here. 0.21% of the stock is currently owned by company insiders.

Marathon Petroleum Trading Down 1.4%

MPC opened at $158.55 on Tuesday. The stock has a market cap of $48.71 billion, a PE ratio of 15.97, a PEG ratio of 3.11 and a beta of 0.87. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The business has a 50 day moving average of $142.80 and a 200-day moving average of $146.07. Marathon Petroleum Co. has a 52 week low of $115.10 and a 52 week high of $183.31.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.16. The company had revenue of $31.85 billion during the quarter, compared to analysts’ expectations of $28.91 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.58 EPS. Equities research analysts predict that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Wednesday, May 21st. Marathon Petroleum’s payout ratio is presently 51.20%.

Marathon Petroleum 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.