Parkshore Wealth Management Inc. Invests $428,000 in Marathon Petroleum Co. (NYSE:MPC)

Parkshore Wealth Management Inc. acquired a new stake in Marathon Petroleum Co. (NYSE:MPC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,070 shares of the oil and gas company's stock, valued at approximately $428,000.

Other hedge funds have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Marathon Petroleum in the fourth quarter worth $27,000. Asset Planning Inc bought a new stake in shares of Marathon Petroleum in the 4th quarter worth approximately $28,000. Sierra Ocean LLC purchased a new stake in shares of Marathon Petroleum in the fourth quarter worth $31,000. Cape Investment Advisory Inc. increased its stake in 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 valued at $42,000 after purchasing an additional 267 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new position in Marathon Petroleum in the 4th quarter worth approximately $44,000. 76.77% of the stock is currently owned by institutional investors.

Marathon Petroleum Price Performance

MPC stock traded down $0.71 during trading on Wednesday, reaching $137.60. 2,549,257 shares of the company were exchanged, compared to its average volume of 2,699,593. The stock's 50 day moving average price is $137.56 and its 200 day moving average price is $145.82. The company has a market cap of $42.87 billion, a P/E ratio of 13.86, a PEG ratio of 3.11 and a beta of 1.04. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. Marathon Petroleum Co. has a 52-week low of $115.10 and a 52-week high of $184.77.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.71. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The firm had revenue of $33.47 billion during the quarter, compared to analysts' expectations of $31.94 billion. During the same quarter last year, the business posted $3.98 EPS. The firm's quarterly revenue was down 9.1% compared to the same quarter last year. As a group, 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. Investors of record on Wednesday, May 21st will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.65%. Marathon Petroleum's payout ratio is currently 36.66%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MPC shares. Piper Sandler lowered their price target on Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. Wells Fargo & Company decreased their price target on Marathon Petroleum from $185.00 to $175.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Morgan Stanley reduced their price target on shares of Marathon Petroleum from $175.00 to $160.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Barclays reduced their price target on shares of Marathon Petroleum from $161.00 to $141.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Finally, Raymond James cut their target price 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. 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $174.21.

Insider Activity

In other news, insider Ricky D. Hessling bought 2,000 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost of $134.72 per share, for a total transaction of $269,440.00. Following the completion of the purchase, the insider now owns 12,162 shares of the company's stock, valued at $1,638,464.64. This trade represents a 19.68 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Evan Bayh purchased 1,000 shares of the business's stock in a transaction that occurred 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 purchase, the director now owns 69,305 shares of the company's stock, valued at approximately $9,266,078.50. This represents a 1.46 % increase in their position. The disclosure for this purchase can be found here. Corporate 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.