Islay Capital Management LLC Increases Position in Marathon Petroleum Co. (NYSE:MPC)

Islay Capital Management LLC lifted its holdings in Marathon Petroleum Co. (NYSE:MPC) by 8.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,888 shares of the oil and gas company’s stock after purchasing an additional 604 shares during the period. Islay Capital Management LLC’s holdings in Marathon Petroleum were worth $1,100,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bornite Capital Management LP bought a new stake in shares of Marathon Petroleum during the fourth quarter worth $34,875,000. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in Marathon Petroleum by 30.3% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,037 shares of the oil and gas company’s stock valued at $145,000 after buying an additional 241 shares in the last quarter. Uniting Wealth Partners LLC purchased a new stake in Marathon Petroleum in the 4th quarter valued at about $302,000. Selway Asset Management grew its stake in Marathon Petroleum by 1.6% in the 4th quarter. Selway Asset Management now owns 19,616 shares of the oil and gas company’s stock worth $2,736,000 after acquiring an additional 300 shares in the last quarter. Finally, Arete Wealth Advisors LLC increased its position in shares of Marathon Petroleum by 37.3% during the fourth quarter. Arete Wealth Advisors LLC now owns 5,396 shares of the oil and gas company’s stock worth $752,000 after acquiring an additional 1,467 shares during the period. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Trading Down 5.9 %

Shares of NYSE:MPC opened at $121.02 on Friday. The business’s 50-day moving average is $147.41 and its 200 day moving average is $150.77. 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 1 year low of $115.97 and a 1 year high of $221.11. The firm has a market capitalization of $37.70 billion, a P/E ratio of 12.19, a P/E/G ratio of 3.11 and a beta of 1.39.

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

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th were issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend was Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 36.66%.

Insider Activity at Marathon Petroleum

In other news, insider Ricky D. Hessling acquired 2,000 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average cost of $134.72 per share, with a total value of $269,440.00. Following the completion of the acquisition, the insider now owns 12,162 shares of the company’s stock, valued at approximately $1,638,464.64. This trade represents a 19.68 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Evan Bayh bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average cost of $133.70 per share, with a total value of $133,700.00. Following the acquisition, the director now directly owns 69,305 shares of the company’s stock, valued at approximately $9,266,078.50. This trade represents a 1.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.21% of the stock is owned by insiders.

Analysts Set New Price Targets

MPC has been the topic of several research analyst reports. TD Cowen reissued a “buy” rating and issued a $170.00 price objective on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Barclays raised their price target on Marathon Petroleum from $159.00 to $161.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Piper Sandler lowered their price objective on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Tudor Pickering raised shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Finally, Mizuho dropped their price objective on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Marathon Petroleum has an average rating of “Moderate Buy” and a consensus price target of $180.29.

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.