Mystic Asset Management Inc. Invests $1.21 Million in Marathon Petroleum Co. (NYSE:MPC)

Mystic Asset Management Inc. bought a new position in shares of Marathon Petroleum Co. (NYSE:MPC) during the fourth quarter, Holdings Channel reports. The fund bought 8,642 shares of the oil and gas company’s stock, valued at approximately $1,206,000.

Several other hedge funds have also modified their holdings of the stock. OLD Second National Bank of Aurora lifted its position in Marathon Petroleum by 7.2% during the 4th quarter. OLD Second National Bank of Aurora now owns 994 shares of the oil and gas company’s stock worth $139,000 after acquiring an additional 67 shares during the last quarter. Nixon Peabody Trust Co. increased its stake in shares of Marathon Petroleum by 3.4% in the fourth quarter. Nixon Peabody Trust Co. now owns 2,068 shares of the oil and gas company’s stock worth $288,000 after purchasing an additional 68 shares during the period. Lake Street Advisors Group LLC lifted its position in shares of Marathon Petroleum by 1.6% during the 4th quarter. Lake Street Advisors Group LLC now owns 4,271 shares of the oil and gas company’s stock worth $596,000 after purchasing an additional 69 shares during the last quarter. American Trust boosted its stake in Marathon Petroleum by 5.3% during the 3rd quarter. American Trust now owns 1,397 shares of the oil and gas company’s stock valued at $228,000 after purchasing an additional 70 shares during the period. Finally, DT Investment Partners LLC grew its holdings in Marathon Petroleum by 21.5% in the 4th 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 during the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wells Fargo & Company upped their price target on Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Piper Sandler reduced their price target on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Raymond James boosted their price objective on shares of Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a report on Friday, January 17th. TD Cowen reaffirmed a “buy” rating and set a $170.00 price objective on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Finally, Barclays lifted their target price on Marathon Petroleum from $159.00 to $161.00 and gave the stock an “overweight” rating in a research report on Friday. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $182.13.

Insider Buying and Selling at Marathon Petroleum

In related news, Director Evan Bayh bought 1,000 shares of the company’s stock in a transaction on 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 completion of the purchase, the director now owns 69,305 shares in the company, valued at approximately $9,266,078.50. The trade was a 1.46 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Ricky D. Hessling bought 2,000 shares of Marathon Petroleum stock in a transaction dated Tuesday, March 11th. The shares were bought at an average price of $134.72 per share, for a total transaction of $269,440.00. Following the completion of the transaction, 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. Corporate insiders own 0.21% of the company’s stock.

Marathon Petroleum Stock Up 3.6 %

Shares of NYSE:MPC opened at $146.27 on Tuesday. The company’s fifty day moving average is $148.48 and its 200-day moving average is $152.76. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. Marathon Petroleum Co. has a 52 week low of $130.54 and a 52 week high of $221.11. The company has a market capitalization of $45.57 billion, a PE ratio of 14.73, a P/E/G ratio of 3.11 and a beta of 1.39.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.71. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The firm had revenue of $33.47 billion for the quarter, compared to analysts’ expectations of $31.94 billion. During the same period in the prior year, the firm earned $3.98 earnings per share. The company’s quarterly revenue was down 9.1% compared to the same quarter last year. Equities research analysts predict that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 19th were issued a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a yield of 2.49%. Marathon Petroleum’s dividend payout ratio is 36.66%.

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.