Procyon Advisors LLC Buys New Holdings in Marathon Petroleum Co. (NYSE:MPC)

Procyon Advisors LLC purchased a new position in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,905 shares of the oil and gas company's stock, valued at approximately $860,000.

A number of other large investors also recently modified their holdings of MPC. Nixon Peabody Trust Co. lifted its stake in shares of Marathon Petroleum by 3.4% during the fourth quarter. Nixon Peabody Trust Co. now owns 2,068 shares of the oil and gas company's stock valued at $288,000 after buying an additional 68 shares during the period. Lake Street Advisors Group LLC raised its holdings in Marathon Petroleum by 1.6% in the 4th quarter. Lake Street Advisors Group LLC now owns 4,271 shares of the oil and gas company's stock valued at $596,000 after acquiring an additional 69 shares during the last quarter. DT Investment Partners LLC lifted its stake in shares of Marathon Petroleum by 21.5% during the 4th quarter. DT Investment Partners LLC now owns 395 shares of the oil and gas company's stock worth $55,000 after purchasing an additional 70 shares during the period. Buckley Wealth Management LLC boosted its holdings in shares of Marathon Petroleum by 0.5% during the fourth quarter. Buckley Wealth Management LLC now owns 14,325 shares of the oil and gas company's stock worth $1,998,000 after purchasing an additional 75 shares during the last quarter. Finally, Beverly Hills Private Wealth LLC grew its position in shares of Marathon Petroleum by 1.2% in the fourth quarter. Beverly Hills Private Wealth LLC now owns 6,655 shares of the oil and gas company's stock valued at $928,000 after purchasing an additional 76 shares during the period. 76.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Scotiabank decreased their price target on 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. Wall Street Zen raised shares of Marathon Petroleum from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Raymond James lowered their target price on shares of Marathon Petroleum from $193.00 to $183.00 and set a "strong-buy" rating for the company in a report on Wednesday, April 9th. Piper Sandler cut their price target on shares of Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. Finally, Morgan Stanley lowered their price objective on shares of Marathon Petroleum from $175.00 to $160.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. 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, Marathon Petroleum presently has a consensus rating of "Moderate Buy" and a consensus price target of $175.29.

Insider Activity at Marathon Petroleum

In other news, insider Ricky D. Hessling acquired 2,000 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was bought at an average cost of $134.72 per share, with a total value of $269,440.00. Following 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.21% of the company's stock.

Marathon Petroleum Trading Up 1.2%

Shares of MPC opened at $160.18 on Friday. Marathon Petroleum Co. has a 12 month low of $115.10 and a 12 month high of $183.31. The stock's 50-day moving average is $143.86 and its two-hundred day moving average is $146.16. 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 cap of $49.21 billion, a PE ratio of 16.13, a P/E/G ratio of 3.11 and a beta of 0.89.

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, topping the consensus estimate of ($0.40) by $0.16. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The firm had revenue of $31.85 billion for the quarter, compared to analyst estimates of $28.91 billion. During the same period in the previous year, the company posted $2.58 EPS. Marathon Petroleum's revenue for the quarter was down 4.1% on a year-over-year basis. Equities analysts forecast that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 2.27%. Marathon Petroleum's dividend payout ratio (DPR) is presently 51.20%.

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.