Larson Financial Group LLC Has $611,000 Holdings in Marathon Petroleum Corporation $MPC

Larson Financial Group LLC cut its holdings in shares of Marathon Petroleum Corporation (NYSE:MPC) by 50.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,758 shares of the oil and gas company’s stock after selling 3,872 shares during the quarter. Larson Financial Group LLC’s holdings in Marathon Petroleum were worth $611,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Boston Partners lifted its position in Marathon Petroleum by 2.3% in the third quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company’s stock worth $1,214,522,000 after purchasing an additional 141,691 shares during the period. Legal & General Group Plc lifted its position in Marathon Petroleum by 2.0% in the third quarter. Legal & General Group Plc now owns 1,861,020 shares of the oil and gas company’s stock worth $358,693,000 after purchasing an additional 35,847 shares during the period. Amundi lifted its position in Marathon Petroleum by 11.8% in the third quarter. Amundi now owns 1,626,862 shares of the oil and gas company’s stock worth $314,830,000 after purchasing an additional 172,172 shares during the period. National Pension Service lifted its position in Marathon Petroleum by 1.7% in the third quarter. National Pension Service now owns 849,268 shares of the oil and gas company’s stock worth $163,688,000 after purchasing an additional 14,308 shares during the period. Finally, Rhumbline Advisers lifted its position in Marathon Petroleum by 1.8% in the third quarter. Rhumbline Advisers now owns 669,237 shares of the oil and gas company’s stock worth $128,989,000 after purchasing an additional 11,948 shares during the period. 76.77% of the stock is owned by institutional investors.

Insider Buying and Selling at Marathon Petroleum

In other news, insider Ricky D. Hessling sold 1,810 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $224.78, for a total transaction of $406,851.80. Following the transaction, the insider directly owned 10,188 shares in the company, valued at approximately $2,290,058.64. This represents a 15.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 4,473 shares of company stock valued at $1,015,428 over the last ninety days. Insiders own 0.17% of the company’s stock.

Marathon Petroleum Stock Performance

Marathon Petroleum stock opened at $248.15 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.18 and a quick ratio of 0.73. The stock has a fifty day moving average price of $237.77 and a two-hundred day moving average price of $205.26. Marathon Petroleum Corporation has a 52-week low of $154.65 and a 52-week high of $264.14. The firm has a market capitalization of $72.44 billion, a P/E ratio of 16.20, a P/E/G ratio of 0.34 and a beta of 0.53.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The firm had revenue of $34.20 billion during the quarter, compared to analyst estimates of $33.42 billion. During the same period in the prior year, the company posted ($0.24) earnings per share. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, analysts anticipate that Marathon Petroleum Corporation will post 29.67 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.6%. The ex-dividend date is Wednesday, May 20th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 26.11%.

Analyst Ratings Changes

MPC has been the subject of several research reports. The Goldman Sachs Group raised their target price on Marathon Petroleum from $264.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Citigroup upped their price target on Marathon Petroleum from $243.00 to $257.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Piper Sandler increased their price objective on Marathon Petroleum from $197.00 to $228.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Jefferies Financial Group increased their price objective on Marathon Petroleum from $263.00 to $279.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Finally, Barclays increased their price objective on Marathon Petroleum from $230.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and an average target price of $259.44.

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.