Granite Bay Wealth Management LLC Has $5.11 Million Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Granite Bay Wealth Management LLC raised its position in Marathon Petroleum Co. (NYSE:MPC - Free Report) by 15.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,058 shares of the oil and gas company's stock after purchasing an additional 4,681 shares during the period. Marathon Petroleum comprises about 1.8% of Granite Bay Wealth Management LLC's investment portfolio, making the stock its 23rd largest position. Granite Bay Wealth Management LLC's holdings in Marathon Petroleum were worth $5,108,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fourth Dimension Wealth LLC purchased a new position in shares of Marathon Petroleum in the 4th quarter worth $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Marathon Petroleum in the 4th quarter worth about $27,000. Asset Planning Inc acquired a new position in shares of Marathon Petroleum during the fourth quarter worth about $28,000. Sierra Ocean LLC purchased a new stake in shares of Marathon Petroleum in the fourth quarter worth about $31,000. Finally, Cape Investment Advisory Inc. grew its stake in shares of Marathon Petroleum by 762.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company's stock valued at $42,000 after buying an additional 267 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Price Performance

MPC traded up $1.02 during trading on Thursday, reaching $157.97. The stock had a trading volume of 1,532,583 shares, compared to its average volume of 2,701,331. The stock has a 50 day moving average of $143.35 and a two-hundred day moving average of $146.25. The firm has a market capitalization of $48.53 billion, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 3.11 and a beta of 0.87. Marathon Petroleum Co. has a 1-year low of $115.10 and a 1-year high of $183.31. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94.

Marathon Petroleum (NYSE:MPC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, beating 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 analyst estimates of $28.91 billion. During the same quarter last year, the firm posted $2.58 EPS. The business's revenue for the quarter was down 4.1% on a year-over-year basis. As a group, equities analysts anticipate that Marathon Petroleum Co. will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Wednesday, May 21st. Marathon Petroleum's dividend payout ratio is 51.20%.

Insiders Place Their Bets

In other Marathon Petroleum 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 price of $134.72 per share, with a total value of $269,440.00. Following the completion of the transaction, the insider now directly owns 12,162 shares in the company, valued at approximately $1,638,464.64. This represents a 19.68% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MPC. Scotiabank dropped their price objective on shares of Marathon Petroleum from $169.00 to $147.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Barclays boosted their target price on shares of Marathon Petroleum from $141.00 to $159.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. 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 research report on Thursday, April 24th. Mizuho boosted their price objective 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. Finally, TD Cowen raised their target price on shares of Marathon Petroleum from $142.00 to $152.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Marathon Petroleum has an average rating of "Moderate Buy" and an average target price of $175.29.

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.