RFG Advisory LLC trimmed its holdings in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 64.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,818 shares of the oil and gas company's stock after selling 14,275 shares during the quarter. RFG Advisory LLC's holdings in Marathon Petroleum were worth $1,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of Marathon Petroleum by 78.1% during the fourth quarter. Wellington Management Group LLP now owns 9,961,503 shares of the oil and gas company's stock worth $1,389,630,000 after acquiring an additional 4,367,774 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Marathon Petroleum by 7.0% in the 4th quarter. Bank of New York Mellon Corp now owns 4,803,951 shares of the oil and gas company's stock valued at $670,151,000 after purchasing an additional 315,786 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Marathon Petroleum by 11.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,399,977 shares of the oil and gas company's stock worth $613,624,000 after purchasing an additional 452,043 shares in the last quarter. Demars Financial Group LLC grew its position in Marathon Petroleum by 16,338.3% during the 4th quarter. Demars Financial Group LLC now owns 4,177,133 shares of the oil and gas company's stock worth $582,710,000 after purchasing an additional 4,151,722 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Marathon Petroleum by 14.0% during the 4th quarter. Northern Trust Corp now owns 3,937,348 shares of the oil and gas company's stock valued at $549,260,000 after purchasing an additional 484,438 shares in the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, insider Ricky D. Hessling purchased 2,000 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased 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. The trade was a 19.68% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on MPC. Scotiabank lowered their price objective on shares of Marathon Petroleum from $169.00 to $147.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. Mizuho raised their target price on Marathon Petroleum from $168.00 to $184.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Wells Fargo & Company boosted their price target on Marathon Petroleum from $175.00 to $180.00 and gave the company an "overweight" rating in a research note on Tuesday, May 13th. Piper Sandler reduced their price objective on Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. Finally, TD Cowen upped their target price on Marathon Petroleum from $142.00 to $152.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $175.29.
View Our Latest Research Report on MPC
Marathon Petroleum Price Performance
Shares of NYSE MPC opened at $157.97 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. The stock has a market capitalization of $48.53 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 3.11 and a beta of 0.89. The firm's 50 day simple moving average is $143.59 and its 200-day simple moving average is $146.24. 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 released its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.16. The company had revenue of $31.85 billion for the quarter, compared to analyst estimates of $28.91 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The firm's revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the business earned $2.58 earnings per share. Analysts expect that Marathon Petroleum Co. will post 8.47 EPS for the current year.
Marathon Petroleum Announces Dividend
The firm also recently declared 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. The ex-dividend date is Wednesday, May 21st. This represents a $3.64 annualized dividend and a dividend yield of 2.30%. Marathon Petroleum's dividend payout ratio is presently 51.20%.
About Marathon Petroleum
(
Free Report)
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.
Further Reading
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 Co. (NYSE:MPC - Free Report).
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