Atlantic Union Bankshares Corp Raises Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Atlantic Union Bankshares Corp grew its holdings in Marathon Petroleum Co. (NYSE:MPC) by 1.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,906 shares of the oil and gas company’s stock after acquiring an additional 429 shares during the period. Atlantic Union Bankshares Corp’s holdings in Marathon Petroleum were worth $4,032,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MPC. SWS Partners grew its holdings in Marathon Petroleum by 19.0% during the 4th quarter. SWS Partners now owns 17,577 shares of the oil and gas company’s stock valued at $2,452,000 after purchasing an additional 2,806 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Marathon Petroleum by 1,204.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company’s stock valued at $75,757,000 after purchasing an additional 501,441 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Marathon Petroleum by 27.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 43,174 shares of the oil and gas company’s stock valued at $7,033,000 after purchasing an additional 9,355 shares in the last quarter. Wilmington Savings Fund Society FSB grew its holdings in Marathon Petroleum by 747.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 21,275 shares of the oil and gas company’s stock valued at $3,466,000 after purchasing an additional 18,764 shares in the last quarter. Finally, Holistic Planning LLC acquired a new stake in Marathon Petroleum during the 3rd quarter valued at $912,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MPC. Wells Fargo & Company raised their price target on shares of Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Piper Sandler decreased their price objective on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a report on Friday. 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 reissued a “buy” rating and set a $170.00 price objective on shares of Marathon Petroleum in a report on Tuesday, December 10th. Finally, Tudor Pickering raised shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.00.

Marathon Petroleum Stock Up 0.1 %

MPC stock opened at $137.65 on Friday. The firm’s 50-day moving average is $148.61 and its two-hundred day moving average is $154.40. The company has a market capitalization of $43.03 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 3.11 and a beta of 1.39. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a 52 week low of $130.54 and a 52 week high of $221.11.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.71. The company 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 revenue was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.98 EPS. On average, analysts forecast that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th will be paid a $0.91 dividend. The ex-dividend date is Wednesday, February 19th. This represents a $3.64 annualized dividend and a dividend yield of 2.64%. Marathon Petroleum’s dividend payout ratio is currently 36.66%.

Insider Transactions at Marathon Petroleum

In other news, Director Evan Bayh bought 1,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average cost of $133.70 per share, with a total value of $133,700.00. Following the completion of the transaction, the director now directly owns 69,305 shares in the company, valued at approximately $9,266,078.50. The trade was a 1.46 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.21% of the company’s stock.

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.