Gateway Investment Advisers LLC Buys 1,830 Shares of Marathon Petroleum Co. (NYSE:MPC)

Gateway Investment Advisers LLC raised its stake in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 5.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,833 shares of the oil and gas company's stock after acquiring an additional 1,830 shares during the period. Gateway Investment Advisers LLC's holdings in Marathon Petroleum were worth $5,366,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Procyon Advisors LLC bought a new position in Marathon Petroleum in the 1st quarter worth about $860,000. Generali Investments Management Co LLC raised its holdings in Marathon Petroleum by 8.7% in the first quarter. Generali Investments Management Co LLC now owns 2,937 shares of the oil and gas company's stock worth $428,000 after buying an additional 236 shares during the last quarter. Channel Wealth LLC bought a new position in shares of Marathon Petroleum in the first quarter worth approximately $203,000. Portside Wealth Group LLC grew its holdings in shares of Marathon Petroleum by 9.3% during the first quarter. Portside Wealth Group LLC now owns 7,210 shares of the oil and gas company's stock valued at $1,006,000 after buying an additional 611 shares during the last quarter. Finally, Granite Bay Wealth Management LLC increased its position in shares of Marathon Petroleum by 15.4% during the first quarter. Granite Bay Wealth Management LLC now owns 35,058 shares of the oil and gas company's stock valued at $5,108,000 after acquiring an additional 4,681 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Performance

MPC opened at $160.18 on Friday. The company's 50 day moving average is $143.86 and its 200 day moving average is $146.16. 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 company has a market cap of $49.21 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 3.11 and a beta of 0.89. Marathon Petroleum Co. has a 12-month low of $115.10 and a 12-month high of $183.31.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, topping the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the company posted $2.58 EPS. On average, equities research analysts predict that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be paid a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.27%. Marathon Petroleum's dividend payout ratio (DPR) is presently 51.20%.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, insider Ricky D. Hessling bought 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average price of $134.72 per share, with a total value of $269,440.00. Following 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

MPC has been the topic of several analyst reports. Raymond James lowered their price objective 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. Wells Fargo & Company upped their price target on Marathon Petroleum from $175.00 to $180.00 and gave the company an "overweight" rating in a report on Tuesday, May 13th. Piper Sandler dropped their price objective 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. TD Cowen boosted their target price on Marathon Petroleum from $142.00 to $152.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Finally, Wall Street Zen upgraded shares of Marathon Petroleum from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $175.29.

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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