City National Bank of Florida MSD Takes $386,000 Position in Marathon Petroleum Co. (NYSE:MPC)

City National Bank of Florida MSD purchased a new position in Marathon Petroleum Co. (NYSE:MPC - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,769 shares of the oil and gas company's stock, valued at approximately $386,000.

Other hedge funds have also bought and sold shares of the company. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Marathon Petroleum in the 4th quarter worth approximately $27,000. Asset Planning Inc bought a new position in Marathon Petroleum during the fourth quarter worth $28,000. Sierra Ocean LLC acquired a new position in Marathon Petroleum in the fourth quarter worth $31,000. Cape Investment Advisory Inc. increased its stake in Marathon Petroleum by 762.9% during the fourth 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 during the last quarter. Finally, OFI Invest Asset Management acquired a new stake in shares of Marathon Petroleum during the fourth quarter worth $44,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MPC has been the subject of several research reports. Piper Sandler decreased their price target on shares of Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating for the company in a report on Friday, March 7th. Wells Fargo & Company raised their target price on shares of Marathon Petroleum from $175.00 to $180.00 and gave the stock an "overweight" rating in a report on Tuesday, May 13th. Raymond James decreased their target price on Marathon Petroleum from $193.00 to $183.00 and set a "strong-buy" rating for the company in a research note on Wednesday, April 9th. Mizuho increased their price target on Marathon Petroleum from $168.00 to $184.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Finally, TD Cowen raised their price target on Marathon Petroleum from $142.00 to $152.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Marathon Petroleum presently has a consensus rating of "Moderate Buy" and an average price target of $175.29.

Insider Activity at Marathon Petroleum

In other news, insider Ricky D. Hessling bought 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average price of $134.72 per share, with a total value of $269,440.00. Following the completion of the purchase, the insider now directly owns 12,162 shares of the company's stock, valued at $1,638,464.64. This represents a 19.68% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Evan Bayh purchased 1,000 shares of the business's stock in a transaction on Wednesday, March 5th. The stock was acquired at an average cost of $133.70 per share, with a total value of $133,700.00. Following the completion of the acquisition, the director now directly owns 69,305 shares in the company, valued at $9,266,078.50. The trade was a 1.46% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.25% of the company's stock.

Marathon Petroleum Trading Down 2.9%

Shares of MPC stock opened at $156.80 on Thursday. Marathon Petroleum Co. has a 1 year low of $115.10 and a 1 year high of $183.31. The firm has a market capitalization of $48.17 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 3.11 and a beta of 0.87. The stock has a fifty day moving average of $141.06 and a two-hundred day moving average of $145.89. 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 (NYSE:MPC - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, beating analysts' consensus estimates of ($0.40) by $0.16. The business 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%. The company's revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.58 earnings per share. As a group, research analysts expect that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Wednesday, May 21st. Marathon Petroleum's dividend payout ratio (DPR) is presently 51.20%.

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.

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