Fairway Wealth LLC Takes Position in Marathon Petroleum Co. (NYSE:MPC)

Fairway Wealth LLC purchased a new position in Marathon Petroleum Co. (NYSE:MPC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 500 shares of the oil and gas company’s stock, valued at approximately $70,000.

A number of other hedge funds have also modified their holdings of the company. Gladius Capital Management LP acquired a new position in Marathon Petroleum during the third quarter worth about $26,000. MeadowBrook Investment Advisors LLC grew its holdings in shares of Marathon Petroleum by 88.9% during the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 80 shares during the last quarter. True Wealth Design LLC boosted its stake in shares of Marathon Petroleum by 672.7% during the third quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after buying an additional 148 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new position in Marathon Petroleum during the fourth quarter worth about $27,000. Finally, Darwin Wealth Management LLC purchased a new position in Marathon Petroleum in the third quarter valued at about $33,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $136.22 on Tuesday. Marathon Petroleum Co. has a 12 month low of $130.54 and a 12 month high of $221.11. The stock’s fifty day moving average price is $148.62 and its 200-day moving average price is $153.91. The firm has a market cap of $42.58 billion, a P/E ratio of 13.72, a P/E/G ratio of 3.11 and a beta of 1.39. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results 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. The company had revenue of $33.47 billion during 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%. Marathon Petroleum’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.98 earnings per share. On average, equities research analysts expect that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

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

Insider Buying and Selling at Marathon Petroleum

In other news, Director Evan Bayh acquired 1,000 shares of the company’s stock in a transaction 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 purchase, the director now owns 69,305 shares of the company’s stock, valued at $9,266,078.50. This represents a 1.46 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.21% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MPC. TD Cowen reaffirmed a “buy” rating and issued a $170.00 target price on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Wells Fargo & Company boosted their target price on Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Piper Sandler reduced their target price on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a report on Friday. Barclays decreased their price target on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Finally, Mizuho lowered their price target on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $182.00.

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.