Marathon Petroleum Co. (NYSE:MPC) Stake Decreased by Laird Norton Wetherby Wealth Management LLC

Laird Norton Wetherby Wealth Management LLC reduced its holdings in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 14.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,892 shares of the oil and gas company's stock after selling 2,372 shares during the quarter. Laird Norton Wetherby Wealth Management LLC's holdings in Marathon Petroleum were worth $1,938,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in MPC. Wellington Management Group LLP boosted its holdings in Marathon Petroleum by 78.1% in the 4th 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 period. Demars Financial Group LLC lifted its holdings in Marathon Petroleum by 16,338.3% in 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 buying an additional 4,151,722 shares during the period. Norges Bank bought a new position in Marathon Petroleum in the 4th quarter worth $453,427,000. Boston Partners grew its holdings in shares of Marathon Petroleum by 37.4% during the 4th quarter. Boston Partners now owns 3,436,704 shares of the oil and gas company's stock worth $480,501,000 after acquiring an additional 935,042 shares during the period. Finally, Pacer Advisors Inc. grew its position in shares of Marathon Petroleum by 22.3% in the 4th quarter. Pacer Advisors Inc. now owns 3,552,655 shares of the oil and gas company's stock worth $495,595,000 after buying an additional 647,045 shares during the period. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Mizuho boosted their target price on Marathon Petroleum from $168.00 to $184.00 and gave the stock a "neutral" rating in a report on Tuesday. TD Cowen upped their price objective on Marathon Petroleum from $142.00 to $152.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Barclays boosted their price objective on Marathon Petroleum from $141.00 to $159.00 and gave the company an "overweight" rating in a research report on Monday. Piper Sandler lowered their target price on Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. Finally, Raymond James dropped their price target on shares of Marathon Petroleum from $193.00 to $183.00 and set a "strong-buy" rating for the company in a research note on Wednesday, April 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Marathon Petroleum currently has a consensus rating of "Moderate Buy" and a consensus price target of $175.29.

Marathon Petroleum Stock Down 0.7%

Marathon Petroleum stock traded down $1.22 during trading on Friday, reaching $164.07. The stock had a trading volume of 2,836,057 shares, compared to its average volume of 2,717,937. The stock has a market cap of $50.40 billion, a PE ratio of 16.52, a P/E/G ratio of 3.11 and a beta of 0.87. The business has a 50 day moving average price of $139.17 and a 200 day moving average price of $145.43. 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 Co. has a 52-week low of $115.10 and a 52-week high of $183.31.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its 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. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The business had revenue of $31.85 billion during the quarter, compared to the consensus estimate of $28.91 billion. During the same quarter in the prior year, the firm earned $2.58 earnings per share. The business's quarterly revenue was down 4.1% compared to the same quarter last year. On average, analysts predict that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $3.64 annualized dividend and a yield of 2.22%. Marathon Petroleum's dividend payout ratio is currently 51.20%.

Insider Activity

In other Marathon Petroleum news, insider Ricky D. Hessling bought 2,000 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average price of $134.72 per share, with a total value of $269,440.00. Following the transaction, the insider now owns 12,162 shares in the company, 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 legal filing with the SEC, which is available at the SEC website. Also, Director Evan Bayh bought 1,000 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was bought at an average cost of $133.70 per share, with a total value of $133,700.00. Following the transaction, the director now directly owns 69,305 shares of the company's stock, valued at approximately $9,266,078.50. This trade represents a 1.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. 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.