Oak Harbor Wealth Partners LLC Decreases Holdings in Marathon Petroleum Co. (NYSE:MPC)

Oak Harbor Wealth Partners LLC reduced its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,518 shares of the oil and gas company’s stock after selling 257 shares during the period. Oak Harbor Wealth Partners LLC’s holdings in Marathon Petroleum were worth $1,746,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Atlantic Union Bankshares Corp grew its stake in shares of Marathon Petroleum by 1.5% during the fourth quarter. Atlantic Union Bankshares Corp now owns 28,906 shares of the oil and gas company’s stock valued at $4,032,000 after buying an additional 429 shares during the last quarter. Amundi increased its stake in Marathon Petroleum by 18.0% in the 4th quarter. Amundi now owns 2,807,566 shares of the oil and gas company’s stock worth $398,388,000 after purchasing an additional 428,708 shares during the period. Dorsey & Whitney Trust CO LLC boosted its stake in shares of Marathon Petroleum by 2.0% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 4,291 shares of the oil and gas company’s stock valued at $599,000 after purchasing an additional 84 shares during the period. Lifeworks Advisors LLC bought a new position in shares of Marathon Petroleum in the fourth quarter worth approximately $315,000. Finally, Generali Investments CEE investicni spolecnost a.s. purchased a new stake in Marathon Petroleum during the 4th quarter valued at $2,468,000. 76.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Marathon Petroleum Stock Performance

MPC stock opened at $137.65 on Friday. Marathon Petroleum Co. has a 12-month low of $130.54 and a 12-month high of $221.11. The stock’s 50 day simple moving average is $148.61 and its 200 day simple moving average is $154.40. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $43.03 billion, a PE ratio of 13.86, 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 for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71. The business had revenue of $33.47 billion during 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%. Marathon Petroleum’s revenue was down 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.98 EPS. As a group, research analysts forecast that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 19th will be given a dividend of $0.91 per share. The ex-dividend date is Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a yield of 2.64%. Marathon Petroleum’s dividend payout ratio (DPR) is 36.66%.

Analysts Set New Price Targets

MPC has been the subject of a number of research analyst reports. Piper Sandler dropped their price target on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research note on Friday. Barclays reduced their price target on shares of Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Raymond James raised their price objective 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. TD Cowen reiterated a “buy” rating and set a $170.00 target price on shares of Marathon Petroleum in a report on Tuesday, December 10th. Finally, Wells Fargo & Company raised their target price on Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.