Procyon Advisors LLC Makes New $1.21 Million Investment in Marathon Petroleum Corporation $MPC

Procyon Advisors LLC purchased a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 7,418 shares of the oil and gas company’s stock, valued at approximately $1,206,000.

Other institutional investors have also recently made changes to their positions in the company. Henrickson Nauta Wealth Advisors Inc. boosted its holdings in shares of Marathon Petroleum by 87.8% in the fourth quarter. Henrickson Nauta Wealth Advisors Inc. now owns 8,319 shares of the oil and gas company’s stock worth $1,418,000 after buying an additional 3,890 shares during the last quarter. Hilltop National Bank increased its holdings in Marathon Petroleum by 96.7% during the fourth quarter. Hilltop National Bank now owns 1,066 shares of the oil and gas company’s stock valued at $173,000 after buying an additional 524 shares during the last quarter. Sagespring Wealth Partners LLC raised its position in Marathon Petroleum by 37.7% in the fourth quarter. Sagespring Wealth Partners LLC now owns 31,245 shares of the oil and gas company’s stock worth $5,081,000 after acquiring an additional 8,553 shares during the period. Private Client Services LLC raised its position in Marathon Petroleum by 8.2% in the fourth quarter. Private Client Services LLC now owns 1,318 shares of the oil and gas company’s stock worth $214,000 after acquiring an additional 100 shares during the period. Finally, Park National Corp OH boosted its stake in shares of Marathon Petroleum by 1.0% during the 4th quarter. Park National Corp OH now owns 17,239 shares of the oil and gas company’s stock worth $2,804,000 after acquiring an additional 171 shares during the last quarter. Institutional investors own 76.77% of the company’s stock.

Analysts Set New Price Targets

MPC has been the subject of several analyst reports. Raymond James Financial upped their price objective on Marathon Petroleum from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Piper Sandler lowered their target price on Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. JPMorgan Chase & Co. reduced their price target on Marathon Petroleum from $211.00 to $179.00 and set a “neutral” rating for the company in a research report on Tuesday, January 13th. Mizuho raised their price objective on Marathon Petroleum from $205.00 to $224.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 17th. Finally, TD Cowen lifted their price objective on Marathon Petroleum from $183.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. Ten equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $205.44.

Marathon Petroleum Stock Up 0.0%

MPC opened at $232.63 on Tuesday. The stock has a market cap of $68.51 billion, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 1.39 and a beta of 0.69. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.74 and a current ratio of 1.26. The firm’s fifty day moving average is $200.16 and its 200 day moving average is $190.59. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $242.98.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.73 by $0.34. The business had revenue of $32.57 billion during the quarter, compared to analyst estimates of $30.89 billion. Marathon Petroleum had a return on equity of 13.90% and a net margin of 2.99%.Marathon Petroleum’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.77 EPS. On average, sell-side analysts forecast that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Wednesday, February 18th were given a dividend of $1.00 per share. The ex-dividend date was Wednesday, February 18th. This represents a $4.00 annualized dividend and a dividend yield of 1.7%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 29.96%.

Insider Transactions at Marathon Petroleum

In related news, insider Ricky D. Hessling sold 1,626 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $228.18, for a total value of $371,020.68. Following the transaction, the insider directly owned 7,525 shares of the company’s stock, valued at approximately $1,717,054.50. The trade was a 17.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 4,473 shares of company stock worth $1,015,428. 0.17% of the stock is currently owned by company insiders.

About Marathon Petroleum

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.