Uniting Wealth Partners LLC Purchases New Stake in Marathon Petroleum Co. (NYSE:MPC)

Uniting Wealth Partners LLC acquired a new position in shares of Marathon Petroleum Co. (NYSE:MPC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,162 shares of the oil and gas company’s stock, valued at approximately $302,000.

Several other large investors also recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its position in shares of Marathon Petroleum by 78.1% during the 4th quarter. Wellington Management Group LLP now owns 9,961,503 shares of the oil and gas company’s stock valued at $1,389,630,000 after acquiring an additional 4,367,774 shares during the last quarter. Norges Bank purchased a new stake in shares of Marathon Petroleum in the 4th quarter valued at approximately $453,427,000. Boston Partners increased its holdings in shares of Marathon Petroleum by 37.4% during the 4th quarter. Boston Partners now owns 3,436,704 shares of the oil and gas company’s stock worth $480,501,000 after buying an additional 935,042 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Marathon Petroleum by 22.3% during the 4th 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 during the period. Finally, National Bank of Canada FI lifted its holdings in Marathon Petroleum by 212.9% in 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 last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Evan Bayh acquired 1,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was bought at an average price of $133.70 per share, for a total transaction of $133,700.00. Following the transaction, the director now owns 69,305 shares in the company, valued at $9,266,078.50. This represents a 1.46 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ricky D. Hessling bought 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 purchase, the insider now owns 12,162 shares in the company, valued at approximately $1,638,464.64. This represents a 19.68 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Piper Sandler lowered their price target on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a report on Friday, March 7th. TD Cowen restated a “buy” rating and issued a $170.00 price objective on shares of Marathon Petroleum in a report on Tuesday, December 10th. Raymond James reiterated a “strong-buy” rating and issued a $193.00 target price on shares of Marathon Petroleum in a report on Thursday, March 27th. Barclays raised their price target on Marathon Petroleum from $159.00 to $161.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Finally, Tudor Pickering upgraded Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $180.29.

Marathon Petroleum Trading Up 0.9 %

NYSE:MPC opened at $148.02 on Thursday. Marathon Petroleum Co. has a 1 year low of $130.54 and a 1 year high of $221.11. The stock has a market cap of $46.11 billion, a P/E ratio of 14.91, a P/E/G ratio of 3.11 and a beta of 1.39. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The stock has a 50-day simple moving average of $148.53 and a 200-day simple moving average of $151.21.

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

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th were given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.46%. The ex-dividend date was Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio (DPR) is 36.66%.

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.