Harbour Investments Inc. Has $666,000 Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Harbour Investments Inc. grew its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 8.3% in the 4th quarter, HoldingsChannel reports. The fund owned 4,772 shares of the oil and gas company’s stock after purchasing an additional 365 shares during the quarter. Harbour Investments Inc.’s holdings in Marathon Petroleum were worth $666,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC bought a new stake in Marathon Petroleum in the 4th quarter valued at about $27,000. True Wealth Design LLC raised its position in shares of Marathon Petroleum by 672.7% in the third 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 in the last quarter. Asset Planning Inc acquired a new stake in Marathon Petroleum during the fourth quarter worth approximately $28,000. Sierra Ocean LLC bought a new position in Marathon Petroleum during the 4th quarter worth $31,000. Finally, Darwin Wealth Management LLC bought a new stake in shares of Marathon Petroleum during the 3rd quarter valued at $33,000. 76.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MPC. Tudor Pickering upgraded Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Wells Fargo & Company raised their price objective on Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Piper Sandler lowered their target price on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. TD Cowen reaffirmed a “buy” rating and set a $170.00 price target on shares of Marathon Petroleum in a report on Tuesday, December 10th. Finally, Mizuho cut their target price on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average price target of $182.13.

Marathon Petroleum Price Performance

Marathon Petroleum stock opened at $149.37 on Thursday. The firm has a market cap of $46.53 billion, a P/E ratio of 15.04, a P/E/G ratio of 3.11 and a beta of 1.39. The stock’s 50 day moving average is $148.70 and its 200 day moving average is $152.52. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. Marathon Petroleum Co. has a one year low of $130.54 and a one year high of $221.11.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings data 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. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The company had revenue of $33.47 billion for the quarter, compared to analyst estimates of $31.94 billion. During the same period in the prior year, the firm posted $3.98 EPS. The company’s quarterly revenue was down 9.1% on a year-over-year basis. As a group, research analysts expect that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th were paid a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.44%. The ex-dividend date 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 acquired 1,000 shares of Marathon Petroleum stock in a transaction on Wednesday, March 5th. The stock was purchased at an average price of $133.70 per share, with a total value of $133,700.00. Following the completion of the purchase, the director now owns 69,305 shares of the company’s stock, valued at approximately $9,266,078.50. The trade was a 1.46 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ricky D. Hessling bought 2,000 shares of the stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average cost of $134.72 per share, for a total transaction of $269,440.00. Following the completion of the transaction, the insider now directly owns 12,162 shares of the company’s stock, valued at $1,638,464.64. This trade represents a 19.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.21% of the stock is owned by corporate insiders.

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.