Marathon Petroleum Co. (NYSE:MPC) Position Increased by TCTC Holdings LLC

TCTC Holdings LLC raised its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 3.3% in the 4th quarter, Holdings Channel reports. The firm owned 91,256 shares of the oil and gas company’s stock after purchasing an additional 2,892 shares during the quarter. TCTC Holdings LLC’s holdings in Marathon Petroleum were worth $12,730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of MPC. Wellington Management Group LLP boosted its holdings in shares of Marathon Petroleum by 342.1% during the third quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company’s stock valued at $911,274,000 after acquiring an additional 4,328,470 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Marathon Petroleum by 22.3% during the fourth quarter. Pacer Advisors Inc. now owns 3,552,655 shares of the oil and gas company’s stock valued at $495,595,000 after acquiring an additional 647,045 shares during the period. National Bank of Canada FI boosted its holdings in shares of Marathon Petroleum by 212.9% during the third quarter. National Bank of Canada FI now owns 846,756 shares of the oil and gas company’s stock valued at $137,945,000 after acquiring an additional 576,119 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Marathon Petroleum by 1,204.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company’s stock valued at $75,757,000 after acquiring an additional 501,441 shares during the period. Finally, Amundi lifted its holdings in Marathon Petroleum by 18.0% in the fourth quarter. Amundi now owns 2,807,566 shares of the oil and gas company’s stock worth $398,388,000 after purchasing an additional 428,708 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MPC shares. Piper Sandler reduced their price objective on shares of 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 upped their price objective on shares of Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a report on Friday, January 17th. TD Cowen reaffirmed a “buy” rating and issued a $170.00 price objective on shares of Marathon Petroleum in a report on Tuesday, December 10th. Barclays upped their price objective on shares of Marathon Petroleum from $159.00 to $161.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Tudor Pickering raised shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and a consensus target price of $182.13.

Marathon Petroleum Price Performance

NYSE MPC opened at $141.23 on Monday. The stock’s 50-day moving average price is $148.36 and its two-hundred day moving average price is $152.93. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The company has a market cap of $44.00 billion, a PE ratio of 14.22, a PEG ratio of 3.11 and a beta of 1.39. Marathon Petroleum Co. has a 1 year low of $130.54 and a 1 year high of $221.11.

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

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th were issued a $0.91 dividend. The ex-dividend date was Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.58%. Marathon Petroleum’s dividend payout ratio is 36.66%.

Marathon Petroleum 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.