Scissortail Wealth Management LLC Has $4.23 Million Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Scissortail Wealth Management LLC raised its stake in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 7,613.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,313 shares of the oil and gas company's stock after acquiring an additional 29,920 shares during the period. Scissortail Wealth Management LLC's holdings in Marathon Petroleum were worth $4,229,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MPC. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Marathon Petroleum during the 4th quarter worth approximately $27,000. Asset Planning Inc purchased a new position in shares of Marathon Petroleum during the 4th quarter worth approximately $28,000. Sierra Ocean LLC purchased a new position in shares of Marathon Petroleum during the 4th quarter worth approximately $31,000. Cape Investment Advisory Inc. grew its holdings in shares of Marathon Petroleum by 762.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company's stock worth $42,000 after acquiring an additional 267 shares during the period. Finally, OFI Invest Asset Management acquired a new stake in shares of Marathon Petroleum in the 4th quarter worth approximately $44,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, insider Ricky D. Hessling acquired 2,000 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average cost of $134.72 per share, for a total transaction of $269,440.00. Following the completion of the purchase, the insider now owns 12,162 shares of the company's stock, valued at approximately $1,638,464.64. This trade represents a 19.68% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Evan Bayh purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average price 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. This trade represents a 1.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.21% of the company's stock.

Marathon Petroleum Stock Down 0.5%

Shares of MPC traded down $0.81 during mid-day trading on Tuesday, reaching $161.46. The company's stock had a trading volume of 1,431,691 shares, compared to its average volume of 2,708,944. The business has a fifty day moving average of $140.26 and a 200 day moving average of $145.70. The company has a market cap of $49.60 billion, a price-to-earnings ratio of 16.26, a price-to-earnings-growth ratio of 3.11 and a beta of 0.87. Marathon Petroleum Co. has a 1 year low of $115.10 and a 1 year high of $183.31. 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 (NYSE:MPC - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (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 business had revenue of $31.85 billion during the quarter, compared to analyst estimates of $28.91 billion. During the same period last year, the company earned $2.58 earnings per share. Marathon Petroleum's quarterly revenue was down 4.1% compared to the same quarter last year. As a group, analysts forecast that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be issued a dividend of $0.91 per share. The ex-dividend date is Wednesday, May 21st. This represents a $3.64 annualized dividend and a yield of 2.25%. Marathon Petroleum's dividend payout ratio (DPR) is currently 51.20%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MPC. Barclays upped their price target on Marathon Petroleum from $141.00 to $159.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. TD Cowen increased their target price on Marathon Petroleum from $142.00 to $152.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Mizuho raised their price objective on Marathon Petroleum from $168.00 to $184.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Wells Fargo & Company raised their price objective on Marathon Petroleum from $175.00 to $180.00 and gave the stock an "overweight" rating in a report on Tuesday, May 13th. Finally, 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $175.29.

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.