WFA Asset Management Corp Grows Stake in Marathon Petroleum Co. (NYSE:MPC)

WFA Asset Management Corp grew its position in Marathon Petroleum Co. (NYSE:MPC) by 21.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 909 shares of the oil and gas company’s stock after buying an additional 159 shares during the quarter. WFA Asset Management Corp’s holdings in Marathon Petroleum were worth $132,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nixon Peabody Trust Co. boosted its stake in Marathon Petroleum by 3.4% during the fourth quarter. Nixon Peabody Trust Co. now owns 2,068 shares of the oil and gas company’s stock worth $288,000 after buying an additional 68 shares during the last quarter. Lake Street Advisors Group LLC raised its holdings in shares of Marathon Petroleum by 1.6% during the 4th quarter. Lake Street Advisors Group LLC now owns 4,271 shares of the oil and gas company’s stock worth $596,000 after acquiring an additional 69 shares during the period. DT Investment Partners LLC raised its holdings in shares of Marathon Petroleum by 21.5% during the 4th quarter. DT Investment Partners LLC now owns 395 shares of the oil and gas company’s stock worth $55,000 after acquiring an additional 70 shares during the period. Buckley Wealth Management LLC boosted its position in shares of Marathon Petroleum by 0.5% during the 4th quarter. Buckley Wealth Management LLC now owns 14,325 shares of the oil and gas company’s stock valued at $1,998,000 after acquiring an additional 75 shares during the last quarter. Finally, Beverly Hills Private Wealth LLC grew its holdings in shares of Marathon Petroleum by 1.2% in the fourth quarter. Beverly Hills Private Wealth LLC now owns 6,655 shares of the oil and gas company’s stock valued at $928,000 after purchasing an additional 76 shares during the period. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Up 1.2%

Marathon Petroleum stock opened at $160.18 on Monday. The firm has a market capitalization of $49.21 billion, a P/E ratio of 16.13, a P/E/G ratio of 3.11 and a beta of 0.89. The stock’s fifty day simple moving average is $143.86 and its 200-day simple moving average is $146.06. Marathon Petroleum Co. has a twelve month low of $115.10 and a twelve month high of $183.31. 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 (NYSE:MPC) last posted its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, topping 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 company had revenue of $31.85 billion during the quarter, compared to analysts’ expectations of $28.91 billion. During the same quarter in the previous year, the business posted $2.58 EPS. The firm’s revenue was down 4.1% on a year-over-year basis. As a group, equities analysts expect that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders 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 2.27%. Marathon Petroleum’s dividend payout ratio is currently 51.20%.

Insider Activity

In related news, insider Ricky D. Hessling bought 2,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average price of $134.72 per share, for a total transaction of $269,440.00. Following the acquisition, the insider now owns 12,162 shares in the company, valued at approximately $1,638,464.64. This represents a 19.68% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. 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. Mizuho lifted their price target on shares of Marathon Petroleum from $168.00 to $184.00 and gave the company a “neutral” rating in a research report on Tuesday, May 13th. Raymond James lowered their price objective on Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating for the company in a research report on Wednesday, April 9th. Piper Sandler reduced their target price 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. Finally, TD Cowen upped their target price on shares of Marathon Petroleum from $142.00 to $152.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, seven have issued 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 price target of $175.29.

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.