Canopy Partners LLC Grows Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Canopy Partners LLC boosted its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 80.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,738 shares of the oil and gas company’s stock after acquiring an additional 2,999 shares during the quarter. Canopy Partners LLC’s holdings in Marathon Petroleum were worth $940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of MPC. Benjamin Edwards Inc. purchased a new position in shares of Marathon Petroleum in the third quarter worth $803,000. Quantinno Capital Management LP increased its position in shares of Marathon Petroleum by 29.3% in the third quarter. Quantinno Capital Management LP now owns 23,082 shares of the oil and gas company’s stock valued at $3,760,000 after acquiring an additional 5,232 shares during the period. Kovitz Investment Group Partners LLC raised its stake in shares of Marathon Petroleum by 15.5% during the third quarter. Kovitz Investment Group Partners LLC now owns 64,503 shares of the oil and gas company’s stock valued at $10,508,000 after acquiring an additional 8,640 shares during the last quarter. EP Wealth Advisors LLC boosted its holdings in shares of Marathon Petroleum by 22.6% during the third quarter. EP Wealth Advisors LLC now owns 19,171 shares of the oil and gas company’s stock worth $3,123,000 after purchasing an additional 3,534 shares during the period. Finally, Zacks Investment Management grew its stake in shares of Marathon Petroleum by 28.3% in the third quarter. Zacks Investment Management now owns 1,825 shares of the oil and gas company’s stock worth $297,000 after purchasing an additional 402 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors.

Insider Activity at Marathon Petroleum

In other news, 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, for a total transaction of $269,440.00. Following the purchase, the insider now directly owns 12,162 shares in the company, valued at approximately $1,638,464.64. This trade represents a 19.68 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Evan Bayh acquired 1,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was acquired at an average cost of $133.70 per share, for a total transaction of $133,700.00. Following the completion of the acquisition, the director now owns 69,305 shares of the company’s stock, valued at $9,266,078.50. This trade represents a 1.46 % increase in their position. The disclosure for this purchase can be found here. 0.21% of the stock is owned by insiders.

Marathon Petroleum Stock Performance

Shares of Marathon Petroleum stock opened at $121.02 on Monday. 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’s fifty day moving average price is $147.41 and its 200-day moving average price is $150.58. The firm has a market cap of $37.70 billion, a P/E ratio of 12.19, a P/E/G ratio of 3.11 and a beta of 1.04. Marathon Petroleum Co. has a 12 month low of $112.74 and a 12 month high of $219.74.

Marathon Petroleum (NYSE:MPC) last posted its earnings results 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 business had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $31.94 billion. During the same quarter last year, the firm posted $3.98 EPS. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. On average, equities research analysts expect that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th were issued a dividend of $0.91 per share. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.64 annualized dividend and a dividend yield of 3.01%. Marathon Petroleum’s dividend payout ratio is presently 36.66%.

Analysts Set New Price Targets

MPC has been the subject of a number of research reports. Mizuho decreased their price target on shares of 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 reiterated a “strong-buy” rating and set a $193.00 price target on shares of Marathon Petroleum in a report on Thursday, March 27th. Wells Fargo & Company lifted their target price on Marathon Petroleum from $183.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Barclays upped their price target on Marathon Petroleum from $159.00 to $161.00 and gave the company an “overweight” rating in a report on Friday, March 14th. Finally, Piper Sandler reduced their price objective on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and an average price target of $180.29.

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.