Centric Wealth Management Has $2.40 Million Stake in Marathon Petroleum Co. (NYSE:MPC)

Centric Wealth Management cut its position in Marathon Petroleum Co. (NYSE:MPC) by 43.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,166 shares of the oil and gas company’s stock after selling 13,039 shares during the quarter. Centric Wealth Management’s holdings in Marathon Petroleum were worth $2,395,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MPC. National Bank of Canada FI grew its position in shares of Marathon Petroleum by 32.7% in the 4th quarter. National Bank of Canada FI now owns 1,123,761 shares of the oil and gas company’s stock valued at $156,759,000 after buying an additional 277,005 shares during the last quarter. Summit Financial LLC increased its position in Marathon Petroleum by 18.7% during the 4th quarter. Summit Financial LLC now owns 3,576 shares of the oil and gas company’s stock valued at $499,000 after purchasing an additional 564 shares during the period. Wellington Management Group LLP raised its holdings in Marathon Petroleum by 78.1% during the 4th 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 purchasing an additional 4,367,774 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of Marathon Petroleum by 65.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 137,188 shares of the oil and gas company’s stock worth $19,526,000 after purchasing an additional 54,125 shares during the period. Finally, Joseph Group Capital Management boosted its stake in shares of Marathon Petroleum by 40.3% in the 4th quarter. Joseph Group Capital Management now owns 19,578 shares of the oil and gas company’s stock valued at $2,731,000 after purchasing an additional 5,623 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Evan Bayh acquired 1,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average cost of $133.70 per share, for a total transaction of $133,700.00. Following the purchase, the director now 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ricky D. Hessling purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average price of $134.72 per share, for a total transaction of $269,440.00. Following the completion of the purchase, the insider now directly owns 12,162 shares in the company, valued at $1,638,464.64. This represents a 19.68 % increase in their position. The disclosure for this purchase can be found here. 0.21% of the stock is currently owned by corporate insiders.

Marathon Petroleum Trading Up 1.2 %

NYSE:MPC opened at $145.85 on Tuesday. Marathon Petroleum Co. has a 52 week low of $130.54 and a 52 week high of $221.11. The firm has a 50-day moving average price of $148.60 and a two-hundred day moving average price of $151.35. The firm has a market cap of $45.44 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 3.11 and a beta of 1.39. 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 (NYSE:MPC) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71. The business had revenue of $33.47 billion for the quarter, compared to analyst estimates of $31.94 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. Marathon Petroleum’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period last year, the company posted $3.98 earnings per share. On average, equities analysts expect that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 19th were given a dividend of $0.91 per share. The ex-dividend date was Wednesday, February 19th. This represents a $3.64 annualized dividend and a yield of 2.50%. Marathon Petroleum’s payout ratio is currently 36.66%.

Wall Street Analysts Forecast Growth

MPC has been the subject of several research analyst reports. Piper Sandler lowered their price objective on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Mizuho cut their price target on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Wells Fargo & Company raised their price objective on shares of Marathon Petroleum from $183.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Tudor Pickering raised shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Finally, TD Cowen restated a “buy” rating and issued a $170.00 price target on shares of Marathon Petroleum in a report on Tuesday, December 10th. One 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 MarketBeat, Marathon Petroleum has a consensus rating of “Moderate Buy” and an average target price of $180.21.

About Marathon Petroleum

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.