Congress Wealth Management LLC DE Purchases New Position in Marathon Petroleum Co. (NYSE:MPC)

Congress Wealth Management LLC DE acquired a new position in shares of Marathon Petroleum Co. (NYSE:MPC — Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,581 shares of the oil and gas company’s stock, valued at approximately $360,000.

A number of other institutional investors and hedge funds have also bought and sold shares of MPC. True Wealth Design LLC increased its stake in shares of Marathon Petroleum by 672.7% during the third quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 148 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new position in Marathon Petroleum during the 4th quarter valued at about $27,000. Asset Planning Inc bought a new stake in shares of Marathon Petroleum in the 4th quarter valued at about $28,000. Sierra Ocean LLC purchased a new stake in shares of Marathon Petroleum in the 4th quarter worth approximately $31,000. Finally, Cape Investment Advisory Inc. boosted its stake in shares of Marathon Petroleum by 762.9% during the fourth quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 267 shares in the last quarter. 76.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

MPC has been the subject of a number of analyst reports. Mizuho lowered their target price on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Piper Sandler dropped their price objective 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. Wells Fargo & Company boosted their target price on shares of Marathon Petroleum from $183.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Raymond James restated a “strong-buy” rating on shares of Marathon Petroleum in a report on Thursday. Finally, Tudor Pickering upgraded shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $180.21.

View Our Latest Report on MPC

Insider Buying and Selling at Marathon Petroleum

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

Marathon Petroleum Trading Down 2.2 %

Marathon Petroleum stock opened at $144.05 on Friday. The stock has a 50-day moving average price of $148.74 and a 200 day moving average price of $151.51. The company has a market capitalization of $44.88 billion, a price-to-earnings ratio of 14.51, a price-to-earnings-growth ratio of 3.11 and a beta of 1.39. Marathon Petroleum Co. has a 52 week low of $130.54 and a 52 week high of $221.11. 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, February 4th. The oil and gas company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.06 by $0.71. The business had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $31.94 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The business’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period in the previous year, the business posted $3.98 EPS. Sell-side analysts anticipate that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th were given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend was Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio is currently 36.66%.

Marathon Petroleum Company Profile

(Free Report)

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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