Marathon Petroleum Co. (NYSE:MPC) Position Lowered by Morse Asset Management Inc

Morse Asset Management Inc reduced its holdings in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 89.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 450 shares of the oil and gas company's stock after selling 3,758 shares during the period. Morse Asset Management Inc's holdings in Marathon Petroleum were worth $63,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in shares of 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 worth $1,389,630,000 after buying an additional 4,367,774 shares during the last quarter. Demars Financial Group LLC increased its holdings in shares of Marathon Petroleum by 16,338.3% in the fourth quarter. Demars Financial Group LLC now owns 4,177,133 shares of the oil and gas company's stock valued at $582,710,000 after purchasing an additional 4,151,722 shares during the last quarter. Norges Bank acquired a new stake in shares of Marathon Petroleum in the fourth quarter valued at approximately $453,427,000. Boston Partners increased its stake in Marathon Petroleum by 37.4% during the fourth 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 last quarter. Finally, Pacer Advisors Inc. increased its stake in Marathon Petroleum by 22.3% during the fourth quarter. Pacer Advisors Inc. now owns 3,552,655 shares of the oil and gas company's stock worth $495,595,000 after acquiring an additional 647,045 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company's stock.

Marathon Petroleum Trading Down 0.7%

Shares of Marathon Petroleum stock traded down $1.22 during trading hours on Friday, reaching $164.07. 2,836,057 shares of the company's stock were exchanged, compared to its average volume of 2,717,656. Marathon Petroleum Co. has a 52-week low of $115.10 and a 52-week high of $183.31. The firm has a market capitalization of $50.40 billion, a price-to-earnings ratio of 16.52, a price-to-earnings-growth ratio of 3.11 and a beta of 0.87. The company has a fifty day moving average of $139.76 and a 200-day moving average of $145.56. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94.

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

Marathon Petroleum Announces Dividend

The business 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 $0.91 dividend. 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%.

Analyst Ratings Changes

A number of research analysts recently issued reports on MPC shares. Scotiabank decreased their target price on Marathon Petroleum from $169.00 to $147.00 and set a "sector outperform" rating for the company in a report on Friday, April 11th. Piper Sandler cut their target price on Marathon Petroleum from $160.00 to $156.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. Raymond James dropped their price target on Marathon Petroleum from $193.00 to $183.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, April 9th. 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 report on Tuesday. Finally, TD Cowen boosted their target price on Marathon Petroleum from $142.00 to $152.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $175.29.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, Director Evan Bayh bought 1,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was bought at an average cost of $133.70 per share, for a total transaction of $133,700.00. Following the completion of the purchase, the director now directly owns 69,305 shares of the company's stock, valued at approximately $9,266,078.50. The trade was a 1.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Ricky D. Hessling bought 2,000 shares of the stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average price of $134.72 per share, with a total value of $269,440.00. Following the completion of the purchase, the insider now directly owns 12,162 shares of the company's stock, valued at approximately $1,638,464.64. This represents a 19.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.21% of the stock is owned by insiders.

Marathon Petroleum Company Profile

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.