Mystic Asset Management Inc. Takes $1.21 Million Position in Marathon Petroleum Co. (NYSE:MPC)

Mystic Asset Management Inc. purchased a new position in Marathon Petroleum Co. (NYSE:MPC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 8,642 shares of the oil and gas company’s stock, valued at approximately $1,206,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MPC. Gladius Capital Management LP purchased a new position in shares of Marathon Petroleum during the 3rd quarter valued at approximately $26,000. True Wealth Design LLC boosted its stake in Marathon Petroleum by 672.7% during the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 148 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in Marathon Petroleum during the 4th quarter worth $27,000. Darwin Wealth Management LLC bought a new stake in shares of Marathon Petroleum in the 3rd quarter worth about $33,000. Finally, Asset Planning Inc acquired a new stake in shares of Marathon Petroleum in the 4th quarter valued at about $28,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of MPC stock opened at $146.27 on Tuesday. Marathon Petroleum Co. has a 12-month low of $130.54 and a 12-month high of $221.11. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. The firm has a market capitalization of $45.57 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 3.11 and a beta of 1.39. The business has a 50 day simple moving average of $148.48 and a 200 day simple moving average of $152.76.

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

Marathon Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend was Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 36.66%.

Insider Activity at Marathon Petroleum

In other news, Director Evan Bayh bought 1,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average cost of $133.70 per share, with a total value of $133,700.00. Following the completion of the acquisition, the director now directly owns 69,305 shares in the company, valued at approximately $9,266,078.50. The trade was a 1.46 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ricky D. Hessling purchased 2,000 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was acquired at an average price of $134.72 per share, for a total transaction of $269,440.00. Following the completion of the transaction, the insider now owns 12,162 shares of the company’s stock, valued at $1,638,464.64. This represents a 19.68 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MPC. Wells Fargo & Company boosted 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. TD Cowen reissued a “buy” rating and set a $170.00 price target on shares of Marathon Petroleum in a research report on Tuesday, December 10th. Tudor Pickering raised shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. Raymond James increased their target price on shares of Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a report on Friday, January 17th. Finally, Mizuho decreased 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. One equities research 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $182.13.

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.