Perigon Wealth Management LLC Lowers Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Perigon Wealth Management LLC reduced its position in Marathon Petroleum Co. (NYSE:MPC) by 13.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,123 shares of the oil and gas company’s stock after selling 482 shares during the quarter. Perigon Wealth Management LLC’s holdings in Marathon Petroleum were worth $463,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aspire Private Capital LLC lifted its stake in shares of Marathon Petroleum by 4.4% in the 3rd quarter. Aspire Private Capital LLC now owns 3,456 shares of the oil and gas company’s stock valued at $523,000 after purchasing an additional 145 shares in the last quarter. Allworth Financial LP grew its stake in Marathon Petroleum by 3.2% during the fourth quarter. Allworth Financial LP now owns 10,899 shares of the oil and gas company’s stock worth $1,617,000 after buying an additional 340 shares during the period. Brandywine Global Investment Management LLC increased its position in shares of Marathon Petroleum by 9.1% in the third quarter. Brandywine Global Investment Management LLC now owns 579,841 shares of the oil and gas company’s stock worth $87,753,000 after acquiring an additional 48,540 shares in the last quarter. Whittier Trust Co. raised its stake in shares of Marathon Petroleum by 6.4% in the 4th quarter. Whittier Trust Co. now owns 8,925 shares of the oil and gas company’s stock valued at $1,324,000 after acquiring an additional 537 shares during the period. Finally, Trust Point Inc. acquired a new position in shares of Marathon Petroleum during the 4th quarter valued at $738,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insiders Place Their Bets

In other news, Director Kim K.W. Rucker sold 1,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $170.35, for a total transaction of $170,350.00. Following the completion of the transaction, the director now owns 23,446 shares in the company, valued at $3,994,026.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.21% of the stock is owned by corporate insiders.

Marathon Petroleum Stock Performance

Shares of MPC opened at $207.02 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.59 and a quick ratio of 1.13. Marathon Petroleum Co. has a 12-month low of $104.32 and a 12-month high of $221.11. The business’s fifty day moving average price is $187.05 and its 200 day moving average price is $163.74. The stock has a market capitalization of $74.60 billion, a PE ratio of 8.80, a price-to-earnings-growth ratio of 1.98 and a beta of 1.52.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, January 30th. The oil and gas company reported $3.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $1.77. Marathon Petroleum had a net margin of 6.44% and a return on equity of 30.58%. The business had revenue of $36.26 billion during the quarter, compared to the consensus estimate of $34.90 billion. During the same quarter in the prior year, the firm earned $6.65 EPS. The company’s revenue for the quarter was down 8.9% compared to the same quarter last year. Equities research analysts forecast that Marathon Petroleum Co. will post 17.53 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Wednesday, February 21st were given a dividend of $0.825 per share. The ex-dividend date was Tuesday, February 20th. This represents a $3.30 dividend on an annualized basis and a yield of 1.59%. Marathon Petroleum’s dividend payout ratio is currently 14.02%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MPC shares. TD Cowen increased their price target on Marathon Petroleum from $168.00 to $170.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Raymond James raised their target price on Marathon Petroleum from $175.00 to $185.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 31st. Mizuho upped their price target on Marathon Petroleum from $201.00 to $202.00 and gave the stock a “neutral” rating in a report on Friday. StockNews.com raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating in a research note on Saturday, March 9th. Finally, Wells Fargo & Company upped their price objective on shares of Marathon Petroleum from $214.00 to $227.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $193.77.

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.