Pathstone Holdings LLC Decreases Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Pathstone Holdings LLC cut its stake in Marathon Petroleum Co. (NYSE:MPC) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,345 shares of the oil and gas company’s stock after selling 1,112 shares during the period. Pathstone Holdings LLC’s holdings in Marathon Petroleum were worth $7,860,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. OLD Second National Bank of Aurora lifted its holdings 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 buying an additional 67 shares during the last quarter. Nixon Peabody Trust Co. lifted its holdings in shares of Marathon Petroleum by 3.4% in the 4th quarter. Nixon Peabody Trust Co. now owns 2,068 shares of the oil and gas company’s stock valued at $288,000 after purchasing an additional 68 shares during the last quarter. Lake Street Advisors Group LLC lifted its holdings in shares of Marathon Petroleum by 1.6% in the 4th quarter. Lake Street Advisors Group LLC now owns 4,271 shares of the oil and gas company’s stock valued at $596,000 after purchasing an additional 69 shares during the last quarter. DT Investment Partners LLC lifted its holdings in shares of 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 purchasing an additional 70 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its holdings in shares of Marathon Petroleum by 3.4% in the 4th quarter. Avior Wealth Management LLC now owns 2,171 shares of the oil and gas company’s stock valued at $303,000 after purchasing an additional 71 shares during the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MPC has been the subject of several research reports. Piper Sandler reduced their target price on 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 dropped their price target on Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, April 9th. Mizuho boosted their price target on Marathon Petroleum from $168.00 to $184.00 and gave the company a “neutral” rating in a research report on Tuesday. TD Cowen boosted their price target on Marathon Petroleum from $142.00 to $152.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. Finally, Tudor Pickering upgraded Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $175.29.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $164.07 on Friday. The business’s 50 day simple moving average is $139.76 and its 200-day simple moving average is $145.56. The firm has a market capitalization of $50.40 billion, a price-to-earnings ratio of 16.52, a price-to-earnings-growth ratio of 3.11 and a beta of 0.87. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. Marathon Petroleum Co. has a 12 month low of $115.10 and a 12 month high of $183.31.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.16. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The firm had revenue of $31.85 billion for the quarter, compared to analyst estimates of $28.91 billion. During the same quarter in the prior year, the company earned $2.58 EPS. Marathon Petroleum’s revenue was down 4.1% on a year-over-year basis. As a group, equities analysts forecast that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Wednesday, May 21st. Marathon Petroleum’s payout ratio is currently 51.20%.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, Director Evan Bayh purchased 1,000 shares of Marathon Petroleum stock in a transaction on Wednesday, March 5th. The shares were bought at an average price of $133.70 per share, with a total value of $133,700.00. Following the purchase, 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ricky D. Hessling purchased 2,000 shares of Marathon Petroleum stock in a transaction on 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 purchase, the insider now owns 12,162 shares in the company, valued at approximately $1,638,464.64. This trade represents a 19.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.21% of the stock is owned by corporate insiders.

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.