Uniting Wealth Partners LLC Acquires New Shares in Marathon Petroleum Co. (NYSE:MPC)

Uniting Wealth Partners LLC purchased a new stake in Marathon Petroleum Co. (NYSE:MPC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,162 shares of the oil and gas company’s stock, valued at approximately $302,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP lifted its holdings in Marathon Petroleum by 78.1% in 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 purchasing an additional 4,367,774 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Marathon Petroleum by 7.0% during the fourth quarter. Bank of New York Mellon Corp now owns 4,803,951 shares of the oil and gas company’s stock valued at $670,151,000 after buying an additional 315,786 shares during the period. Pacer Advisors Inc. boosted its position in Marathon Petroleum by 22.3% during the fourth quarter. Pacer Advisors Inc. now owns 3,552,655 shares of the oil and gas company’s stock worth $495,595,000 after acquiring an additional 647,045 shares during the last quarter. Boston Partners grew its position in shares of Marathon Petroleum by 37.4% in the fourth quarter. Boston Partners now owns 3,436,704 shares of the oil and gas company’s stock valued at $480,501,000 after purchasing an additional 935,042 shares during the period. Finally, Norges Bank purchased a new stake in Marathon Petroleum in the fourth quarter valued at approximately $453,427,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Insider Buying and Selling at Marathon Petroleum

In other Marathon Petroleum news, insider Ricky D. Hessling acquired 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average cost of $134.72 per share, with a total value of $269,440.00. Following the acquisition, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Evan Bayh bought 1,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were acquired at an average cost of $133.70 per share, for a total transaction of $133,700.00. Following the purchase, the director now directly 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 disclosure for this purchase can be found here. 0.21% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. TD Cowen restated a “buy” rating and set a $170.00 price target on shares of Marathon Petroleum in a research note on Tuesday, December 10th. 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 research report on Friday, March 7th. Mizuho lowered their target price on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Raymond James reaffirmed a “strong-buy” rating and issued a $193.00 price objective on shares of Marathon Petroleum in a research report on Thursday, March 27th. Finally, Wells Fargo & Company upped their price objective on shares of Marathon Petroleum from $183.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $180.29.

Marathon Petroleum Stock Performance

Shares of MPC opened at $148.02 on Thursday. 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 12-month low of $130.54 and a 12-month high of $221.11. The business’s fifty day moving average price is $148.53 and its 200 day moving average price is $151.21. The stock has a market capitalization of $46.11 billion, a PE ratio of 14.91, a price-to-earnings-growth 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71. The firm 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%. Marathon Petroleum’s revenue was down 9.1% on a year-over-year basis. During the same quarter last year, the company posted $3.98 earnings per share. Equities research analysts forecast that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 19th were paid a dividend of $0.91 per share. The ex-dividend date was Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a yield of 2.46%. Marathon Petroleum’s payout ratio is currently 36.66%.

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.