Weatherly Asset Management L. P. Makes New Investment in Marathon Petroleum Corporation (NYSE:MPC)

Weatherly Asset Management L. P. purchased a new stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm purchased 1,481 shares of the oil and gas company's stock, valued at approximately $216,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Wellington Management Group LLP grew its stake in Marathon Petroleum by 78.1% in the fourth quarter. Wellington Management Group LLP now owns 9,961,503 shares of the oil and gas company's stock valued at $1,389,630,000 after purchasing an additional 4,367,774 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Marathon Petroleum by 3.7% in the 1st quarter. Bank of New York Mellon Corp now owns 4,982,348 shares of the oil and gas company's stock valued at $725,878,000 after buying an additional 178,397 shares in the last quarter. Demars Financial Group LLC grew its position in shares of Marathon Petroleum by 12.8% in the 1st quarter. Demars Financial Group LLC now owns 4,713,595 shares of the oil and gas company's stock worth $686,724,000 after buying an additional 536,462 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of 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 buying an additional 452,043 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of 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 worth $549,260,000 after acquiring an additional 484,438 shares in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MPC has been the topic of several analyst reports. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Marathon Petroleum in a report on Monday, June 30th. Evercore ISI initiated coverage on Marathon Petroleum in a research note on Wednesday, June 18th. They set an "in-line" rating and a $170.00 target price on the stock. UBS Group increased their price target on Marathon Petroleum from $175.00 to $203.00 and gave the company a "buy" rating in a research note on Thursday. Mizuho raised their price target on Marathon Petroleum from $168.00 to $184.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Finally, Piper Sandler upped their price objective on shares of Marathon Petroleum from $157.00 to $175.00 and gave the company a "neutral" rating in a report on Thursday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $184.38.

Marathon Petroleum Trading Down 1.3%

Shares of Marathon Petroleum stock opened at $179.81 on Monday. The stock has a market cap of $55.24 billion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 3.59 and a beta of 0.88. The firm has a fifty day moving average price of $163.74 and a 200 day moving average price of $150.10. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $183.31. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.19 and a quick ratio of 0.73.

Marathon Petroleum (NYSE:MPC - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, beating analysts' consensus estimates of ($0.40) by $0.16. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. The business had revenue of $31.85 billion during the quarter, compared to analyst estimates of $28.91 billion. During the same quarter last year, the business posted $2.58 EPS. The company's revenue was down 4.1% on a year-over-year basis. Equities research analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st were issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Wednesday, May 21st. Marathon Petroleum's payout ratio is presently 51.20%.

Insider Buying and Selling

In other news, Director Kim K.W. Rucker sold 7,392 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $175.00, for a total transaction of $1,293,600.00. Following the completion of the transaction, the director directly owned 18,944 shares of the company's stock, valued at $3,315,200. The trade was a 28.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.21% of the company's stock.

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.

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