Marathon Petroleum Co. (NYSE:MPC) Shares Bought by Selway Asset Management

Selway Asset Management grew its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 1.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,916 shares of the oil and gas company’s stock after acquiring an additional 300 shares during the period. Marathon Petroleum comprises about 1.2% of Selway Asset Management’s holdings, making the stock its 28th biggest position. Selway Asset Management’s holdings in Marathon Petroleum were worth $2,902,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Fourth Dimension Wealth LLC purchased a new position in shares of Marathon Petroleum during the 4th quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Marathon Petroleum during the 4th quarter worth approximately $27,000. Asset Planning Inc purchased a new position in shares of Marathon Petroleum during the 4th quarter worth approximately $28,000. Sierra Ocean LLC purchased a new position in shares of Marathon Petroleum during the 4th quarter worth approximately $31,000. Finally, Cape Investment Advisory Inc. increased its stake in shares of Marathon Petroleum by 762.9% during the 4th quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 267 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MPC shares. Wall Street Zen raised shares of Marathon Petroleum from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Barclays lifted their target price on shares of Marathon Petroleum from $141.00 to $159.00 and gave the stock an “overweight” rating in a research note on Monday, May 12th. Wells Fargo & Company lifted their target price on shares of Marathon Petroleum from $175.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 13th. Piper Sandler lowered their target price on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Finally, TD Cowen lifted their target price on shares of Marathon Petroleum from $142.00 to $152.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Marathon Petroleum has a consensus rating of “Moderate Buy” and an average price target of $175.29.

Insiders Place Their Bets

In related news, Director Evan Bayh bought 1,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was bought at an average price of $133.70 per share, with a total value of $133,700.00. Following the transaction, the director now owns 69,305 shares of the company’s stock, valued at approximately $9,266,078.50. This trade represents a 1.46% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ricky D. Hessling bought 2,000 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was bought at an average cost of $134.72 per share, with a total value of $269,440.00. Following the transaction, the insider now directly owns 12,162 shares in the company, 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 currently owned by company insiders.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $158.55 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $48.71 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 3.11 and a beta of 0.87. The firm’s fifty day simple moving average is $142.80 and its 200 day simple moving average is $146.07. Marathon Petroleum Co. has a twelve month low of $115.10 and a twelve month high of $183.31.

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

Marathon Petroleum Dividend Announcement

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

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.