BlackDiamond Wealth Management LLC Trims Holdings in Marathon Petroleum Co. (NYSE:MPC)

BlackDiamond Wealth Management LLC cut its holdings in Marathon Petroleum Co. (NYSE:MPC) by 6.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,826 shares of the oil and gas company’s stock after selling 132 shares during the quarter. BlackDiamond Wealth Management LLC’s holdings in Marathon Petroleum were worth $255,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. OLD Second National Bank of Aurora grew its position in shares of Marathon Petroleum by 7.2% in the 4th quarter. OLD Second National Bank of Aurora now owns 994 shares of the oil and gas company’s stock worth $139,000 after buying an additional 67 shares during the period. Nixon Peabody Trust Co. grew its position in shares of Marathon Petroleum by 3.4% in the 4th quarter. Nixon Peabody Trust Co. now owns 2,068 shares of the oil and gas company’s stock worth $288,000 after buying an additional 68 shares during the period. Lake Street Advisors Group LLC boosted its stake in Marathon Petroleum by 1.6% in the 4th quarter. Lake Street Advisors Group LLC now owns 4,271 shares of the oil and gas company’s stock worth $596,000 after purchasing an additional 69 shares in the last quarter. American Trust boosted its stake in Marathon Petroleum by 5.3% in the 3rd quarter. American Trust now owns 1,397 shares of the oil and gas company’s stock worth $228,000 after purchasing an additional 70 shares in the last quarter. Finally, DT Investment Partners LLC boosted its stake in Marathon Petroleum by 21.5% in the 4th quarter. DT Investment Partners LLC now owns 395 shares of the oil and gas company’s stock worth $55,000 after purchasing an additional 70 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MPC. Piper Sandler dropped their price target on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Wells Fargo & Company upped their price target on shares of Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Barclays upped their price target on shares of Marathon Petroleum from $159.00 to $161.00 and gave the stock an “overweight” rating in a research note on Friday. TD Cowen reiterated a “buy” rating and issued a $170.00 price target on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Finally, Tudor Pickering upgraded shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $182.13.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $146.27 on Tuesday. The firm’s 50 day moving average price is $148.48 and its 200-day moving average price is $152.76. Marathon Petroleum Co. has a twelve month low of $130.54 and a twelve month high of $221.11. 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 stock has a market capitalization of $45.57 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 3.11 and a beta of 1.39.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, topping the consensus estimate 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%. The business’s quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.98 EPS. Equities research analysts expect that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

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

Insider Buying and Selling

In other news, insider Ricky D. Hessling bought 2,000 shares of Marathon Petroleum stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average cost of $134.72 per share, with a total value of $269,440.00. Following the acquisition, the insider now owns 12,162 shares of the company’s stock, valued at $1,638,464.64. The trade was a 19.68 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Evan Bayh acquired 1,000 shares of Marathon Petroleum stock in a transaction dated Wednesday, March 5th. The shares were bought at an average price of $133.70 per share, for a total transaction of $133,700.00. Following the transaction, 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 ownership of the stock. The disclosure for this purchase can be found here. 0.21% of the stock is currently owned by insiders.

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.