Concurrent Investment Advisors LLC Acquires 57,476 Shares of Marathon Petroleum Corporation $MPC

Key Points

• Concurrent Investment Advisors LLC boosted its Marathon Petroleum (MPC) stake by 377.7% in Q4, buying 57,476 shares to own 72,692 shares valued at about $11.82 million.
• Analysts have grown more positive on MPC—MarketBeat shows a consensus rating of Moderate Buy with a $241.81 price target, and several firms (including Goldman Sachs) raised targets up to $264.
• Marathon beat recent quarterly estimates with $4.07 EPS (vs. $3.73 expected) on $32.57 billion revenue and pays a $1.00 quarterly dividend ($4.00 annual, ~1.8% yield).

Concurrent Investment Advisors LLC lifted its holdings in Marathon Petroleum Corporation (NYSE:MPC - Free Report) by 377.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,692 shares of the oil and gas company's stock after purchasing an additional 57,476 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Marathon Petroleum were worth $11,822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. KERR FINANCIAL PLANNING Corp bought a new stake in Marathon Petroleum in the 3rd quarter worth about $39,000. IAG Wealth Partners LLC bought a new position in Marathon Petroleum during the 3rd quarter valued at about $39,000. WFA of San Diego LLC purchased a new stake in shares of Marathon Petroleum during the 2nd quarter valued at about $33,000. Rialto Wealth Management LLC grew its stake in shares of Marathon Petroleum by 721.4% in the fourth quarter. Rialto Wealth Management LLC now owns 230 shares of the oil and gas company's stock worth $37,000 after acquiring an additional 202 shares during the period. Finally, Lodestone Wealth Management LLC purchased a new position in shares of Marathon Petroleum during the fourth quarter valued at approximately $38,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Marathon Petroleum

In related news, insider Ricky D. Hessling sold 1,626 shares of Marathon Petroleum stock in a transaction on Friday, March 13th. The shares were sold at an average price of $228.18, for a total transaction of $371,020.68. Following the transaction, the insider owned 7,525 shares in the company, valued at approximately $1,717,054.50. The trade was a 17.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 4,473 shares of company stock worth $1,015,428. 0.17% of the stock is owned by company insiders.

Analysts Set New Price Targets

MPC has been the topic of a number of research analyst reports. Weiss Ratings downgraded shares of Marathon Petroleum from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, March 19th. Zacks Research upgraded shares of Marathon Petroleum from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 7th. Piper Sandler increased their price target on Marathon Petroleum from $197.00 to $228.00 and gave the company a "neutral" rating in a report on Thursday, April 9th. Barclays raised their price target on Marathon Petroleum from $194.00 to $230.00 and gave the stock an "overweight" rating in a research note on Friday, April 10th. Finally, The Goldman Sachs Group lifted their price objective on Marathon Petroleum from $239.00 to $264.00 and gave the stock a "buy" rating in a report on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $241.81.

Marathon Petroleum Trading Up 1.4%

Shares of MPC stock opened at $224.19 on Friday. The company has a market cap of $66.02 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 0.37 and a beta of 0.58. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.26 and a quick ratio of 0.74. The firm has a fifty day moving average price of $222.98 and a 200-day moving average price of $198.00. Marathon Petroleum Corporation has a 1 year low of $133.00 and a 1 year high of $255.77.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 EPS for the quarter, topping analysts' consensus estimates of $3.73 by $0.34. The business had revenue of $32.57 billion during the quarter, compared to analysts' expectations of $30.89 billion. Marathon Petroleum had a return on equity of 13.90% and a net margin of 2.99%.The business's quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.77 earnings per share. As a group, equities analysts predict that Marathon Petroleum Corporation will post 23.42 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 18th were paid a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, February 18th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.8%. Marathon Petroleum's dividend payout ratio is 29.96%.

About Marathon Petroleum

Marathon Petroleum Corporation NYSE: MPC is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum's operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.

Want to see what other hedge funds are holding MPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Petroleum Corporation (NYSE:MPC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.