HBK Sorce Advisory LLC Boosts Stock Position in Marathon Petroleum Co. (NYSE:MPC)

HBK Sorce Advisory LLC increased its stake in Marathon Petroleum Co. (NYSE:MPC) by 12.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,526 shares of the oil and gas company’s stock after buying an additional 384 shares during the period. HBK Sorce Advisory LLC’s holdings in Marathon Petroleum were worth $492,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Covestor Ltd lifted its position in Marathon Petroleum by 44.8% in the 3rd quarter. Covestor Ltd now owns 294 shares of the oil and gas company’s stock valued at $48,000 after acquiring an additional 91 shares in the last quarter. Pinnacle Financial Partners Inc lifted its position in Marathon Petroleum by 6.3% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 6,315 shares of the oil and gas company’s stock valued at $1,029,000 after acquiring an additional 374 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in Marathon Petroleum by 27.7% in 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 acquiring an additional 9,355 shares in the last quarter. Huntington National Bank lifted its position in Marathon Petroleum by 1.9% in the 3rd quarter. Huntington National Bank now owns 30,256 shares of the oil and gas company’s stock valued at $4,929,000 after acquiring an additional 558 shares in the last quarter. Finally, Zions Bancorporation N.A. lifted its position in Marathon Petroleum by 22.9% in the 3rd quarter. Zions Bancorporation N.A. now owns 1,822 shares of the oil and gas company’s stock valued at $297,000 after acquiring an additional 340 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MPC shares. Raymond James upped their price objective on Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a research report on Friday, January 17th. Wells Fargo & Company upped their price objective on Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Piper Sandler lowered their price target on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Tudor Pickering raised Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. Finally, Mizuho lowered their price target on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $182.13.

Marathon Petroleum Trading Up 3.1 %

NYSE:MPC opened at $141.23 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. The firm has a market capitalization of $44.15 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 3.11 and a beta of 1.39. Marathon Petroleum Co. has a one year low of $130.54 and a one year high of $221.11. The business has a fifty day moving average price of $148.36 and a 200-day moving average price of $153.17.

Marathon Petroleum (NYSE:MPC) last issued its quarterly 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. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The business had revenue of $33.47 billion during the quarter, compared to analyst estimates of $31.94 billion. During the same quarter in the prior year, the business posted $3.98 EPS. Marathon Petroleum’s revenue for the quarter was down 9.1% compared to the same quarter last year. Sell-side analysts forecast that Marathon Petroleum Co. will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th were paid a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a yield of 2.58%. Marathon Petroleum’s payout ratio is presently 36.66%.

Insiders Place Their Bets

In other news, insider Ricky D. Hessling acquired 2,000 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average price of $134.72 per share, for a total transaction of $269,440.00. Following the completion of the transaction, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Evan Bayh acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average price of $133.70 per share, with a total value 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. 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.

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.