FWG Holdings LLC Purchases New Shares in Marathon Petroleum Co. (NYSE:MPC)

FWG Holdings LLC acquired a new position in shares of Marathon Petroleum Co. (NYSE:MPC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,695 shares of the oil and gas company’s stock, valued at approximately $396,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of MPC. Wellington Management Group LLP increased its position in 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 worth $911,274,000 after acquiring an additional 4,328,470 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Marathon Petroleum by 7.0% during the fourth quarter. Bank of New York Mellon Corp now owns 4,803,951 shares of the oil and gas company’s stock worth $670,151,000 after purchasing an additional 315,786 shares during the period. Pacer Advisors Inc. raised its position in shares of Marathon Petroleum by 22.3% in 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 buying an additional 647,045 shares in the last quarter. Amundi boosted its stake in shares of Marathon Petroleum by 18.0% in the fourth quarter. Amundi now owns 2,807,566 shares of the oil and gas company’s stock valued at $398,388,000 after buying an additional 428,708 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Marathon Petroleum by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,485,925 shares of the oil and gas company’s stock worth $346,787,000 after buying an additional 67,913 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Piper Sandler dropped their price objective on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a report on Friday. Tudor Pickering raised Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Wells Fargo & Company raised their target price on shares of Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Mizuho cut their price target on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Finally, Barclays decreased their price objective on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $182.00.

Insider Activity at Marathon Petroleum

In related news, Director Evan Bayh acquired 1,000 shares of the business’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 completion of the purchase, the director now directly owns 69,305 shares in the company, valued at $9,266,078.50. The trade was a 1.46 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.21% of the stock is currently owned by company insiders.

Marathon Petroleum Price Performance

Shares of MPC opened at $137.65 on Monday. The business has a 50-day simple moving average of $148.61 and a two-hundred day simple moving average of $154.16. Marathon Petroleum Co. has a 12-month low of $130.54 and a 12-month high of $221.11. The stock has a market cap of $43.03 billion, a PE ratio of 13.86, a PEG ratio of 3.11 and a beta of 1.39. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94.

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

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $3.64 annualized dividend and a dividend yield of 2.64%. Marathon Petroleum’s dividend payout ratio is 36.66%.

About Marathon Petroleum

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.