Merit Financial Group LLC Has $1.39 Million Position in Marathon Petroleum Co. (NYSE:MPC)
Merit Financial Group LLC boosted its stake in shares of Marathon Petroleum Co. (NYSE:MPC — Free Report) by 20.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,543 shares of the oil and gas company’s stock after acquiring an additional 1,607 shares during the quarter. Merit Financial Group LLC’s holdings in Marathon Petroleum were worth $1,390,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the stock. Nixon Peabody Trust Co. raised its stake in Marathon Petroleum by 3.4% during the fourth quarter. Nixon Peabody Trust Co. now owns 2,068 shares of the oil and gas company’s stock worth $288,000 after acquiring an additional 68 shares in the last quarter. Lake Street Advisors Group LLC increased its stake in shares of Marathon Petroleum by 1.6% in the fourth quarter. Lake Street Advisors Group LLC now owns 4,271 shares of the oil and gas company’s stock valued at $596,000 after buying an additional 69 shares in the last quarter. DT Investment Partners LLC increased its stake in shares of Marathon Petroleum by 21.5% in the fourth quarter. DT Investment Partners LLC now owns 395 shares of the oil and gas company’s stock valued at $55,000 after buying an additional 70 shares in the last quarter. Buckley Wealth Management LLC increased its stake in shares of Marathon Petroleum by 0.5% in the fourth quarter. Buckley Wealth Management LLC now owns 14,325 shares of the oil and gas company’s stock valued at $1,998,000 after buying an additional 75 shares in the last quarter. Finally, Beverly Hills Private Wealth LLC increased its stake in shares of Marathon Petroleum by 1.2% in the fourth quarter. Beverly Hills Private Wealth LLC now owns 6,655 shares of the oil and gas company’s stock valued at $928,000 after buying an additional 76 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on MPC shares. 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 note on Friday, March 7th. TD Cowen raised their target price on Marathon Petroleum from $142.00 to $152.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Wells Fargo & Company raised their price target on Marathon Petroleum from $175.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, May 13th. Raymond James decreased their price target on Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating on the stock in a report on Wednesday, April 9th. Finally, Barclays raised their price target on Marathon Petroleum from $141.00 to $159.00 and gave the company an “overweight” rating in a report on Monday, May 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and an average price target of $175.29.
View Our Latest Stock Analysis on MPC
Insider Activity at Marathon Petroleum
In related news, insider Ricky D. Hessling purchased 2,000 shares of the stock in a transaction on Tuesday, March 11th. The shares were purchased at an average price of $134.72 per share, with a total value of $269,440.00. Following the transaction, the insider now directly owns 12,162 shares of the company’s stock, valued at $1,638,464.64. This trade represents a 19.68% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is owned by insiders.
Marathon Petroleum Trading Up 1.2%
NYSE MPC opened at $160.18 on Friday. The firm has a market cap of $49.21 billion, a P/E ratio of 16.13, a P/E/G ratio of 3.11 and a beta of 0.89. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. The stock’s 50-day moving average is $143.86 and its 200-day moving average is $146.25. Marathon Petroleum Co. has a one year low of $115.10 and a one year high of $183.31.
Marathon Petroleum (NYSE:MPC — Get Free Report) last released its quarterly earnings results 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 company had revenue of $31.85 billion for the quarter, compared to analyst estimates of $28.91 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. Marathon Petroleum’s revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.58 earnings per share. Sell-side analysts anticipate that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.
Marathon Petroleum Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Wednesday, May 21st. Marathon Petroleum’s dividend payout ratio is presently 51.20%.
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.
Further Reading
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