Fairway Wealth LLC Acquires New Stake in Marathon Petroleum Co. (NYSE:MPC)

Fairway Wealth LLC purchased a new stake in shares of Marathon Petroleum Co. (NYSE:MPC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 500 shares of the oil and gas company’s stock, valued at approximately $70,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of MPC. Gladius Capital Management LP bought a new stake in Marathon Petroleum in the third quarter valued at $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in Marathon Petroleum during the fourth quarter worth approximately $27,000. MeadowBrook Investment Advisors LLC grew its stake in shares of Marathon Petroleum by 88.9% in the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 80 shares during the last quarter. True Wealth Design LLC increased its holdings in Marathon Petroleum by 672.7% in the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 148 shares during the period. Finally, Asset Planning Inc acquired a new stake in shares of Marathon Petroleum during the 4th quarter worth about $28,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $136.22 on Tuesday. Marathon Petroleum Co. has a 1 year low of $130.54 and a 1 year high of $221.11. 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 firm has a market capitalization of $42.58 billion, a PE ratio of 13.72, a PEG ratio of 3.11 and a beta of 1.39. The firm’s fifty day simple moving average is $148.62 and its 200 day simple moving average is $153.91.

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

Marathon Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th were paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend was Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio is currently 36.66%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Tudor Pickering upgraded shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. Wells Fargo & Company lifted their price objective on Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Barclays lowered their price target on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a report on Monday, November 11th. TD Cowen restated a “buy” rating and issued a $170.00 target price on shares of Marathon Petroleum in a report on Tuesday, December 10th. Finally, Raymond James lifted their price objective on shares of Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $182.00.

Insider Activity

In other news, Director Evan Bayh acquired 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average cost of $133.70 per share, with a total value of $133,700.00. Following the acquisition, the director now owns 69,305 shares in the company, valued at approximately $9,266,078.50. This represents a 1.46 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is currently owned by company insiders.

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.