DnB Asset Management AS Boosts Stock Position in Marathon Petroleum Co. (NYSE:MPC)

DnB Asset Management AS boosted its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 26.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,751 shares of the oil and gas company’s stock after buying an additional 365 shares during the period. DnB Asset Management AS’s holdings in Marathon Petroleum were worth $244,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC raised its position in shares of Marathon Petroleum by 4.1% during the 4th quarter. Orion Portfolio Solutions LLC now owns 21,428 shares of the oil and gas company’s stock valued at $2,989,000 after buying an additional 839 shares during the period. Pictet Asset Management Holding SA raised its position in Marathon Petroleum by 5.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 209,497 shares of the oil and gas company’s stock valued at $29,225,000 after purchasing an additional 10,100 shares during the period. New Age Alpha Advisors LLC purchased a new position in shares of Marathon Petroleum during the 4th quarter worth $1,192,000. Easterly Investment Partners LLC increased its position in shares of Marathon Petroleum by 10.1% during the 4th quarter. Easterly Investment Partners LLC now owns 62,739 shares of the oil and gas company’s stock worth $8,752,000 after purchasing an additional 5,744 shares during the last quarter. Finally, Norges Bank purchased a new stake in Marathon Petroleum in the 4th quarter valued at about $453,427,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Petroleum Stock Up 0.9 %

Shares of Marathon Petroleum stock opened at $148.02 on Thursday. Marathon Petroleum Co. has a 52-week low of $130.54 and a 52-week high of $221.11. The company has a 50 day moving average of $148.53 and a 200 day moving average of $151.21. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The company has a market capitalization 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.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71. The firm had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $31.94 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The company’s revenue was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.98 earnings per share. As a group, research analysts forecast that Marathon Petroleum Co. will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The business 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. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.64 annualized dividend and a yield of 2.46%. Marathon Petroleum’s dividend payout ratio is currently 36.66%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wells Fargo & Company increased their target price on shares of Marathon Petroleum from $183.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Tudor Pickering upgraded shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. Mizuho cut their target price on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. 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, Piper Sandler cut their price objective on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, seven have given 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.com, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and a consensus price target of $180.21.

Insiders Place Their Bets

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

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.