Corient Private Wealth LLC Sells 28,783 Shares of Marathon Petroleum Co. (NYSE:MPC)

Corient Private Wealth LLC decreased its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 14.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 168,814 shares of the oil and gas company’s stock after selling 28,783 shares during the quarter. Corient Private Wealth LLC’s holdings in Marathon Petroleum were worth $23,550,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. one8zero8 LLC bought a new position in Marathon Petroleum in the 4th quarter worth about $617,000. Choate Investment Advisors boosted its stake in Marathon Petroleum by 3.5% in the 4th quarter. Choate Investment Advisors now owns 11,652 shares of the oil and gas company’s stock worth $1,625,000 after purchasing an additional 398 shares during the period. Natixis Advisors LLC boosted its stake in Marathon Petroleum by 0.6% in the 4th quarter. Natixis Advisors LLC now owns 234,763 shares of the oil and gas company’s stock worth $32,749,000 after purchasing an additional 1,514 shares during the period. Buckley Wealth Management LLC boosted its stake in Marathon Petroleum by 0.5% in the 4th quarter. Buckley Wealth Management LLC now owns 14,325 shares of the oil and gas company’s stock worth $1,998,000 after purchasing an additional 75 shares during the period. Finally, United Capital Management of KS Inc. boosted its stake in Marathon Petroleum by 2.7% in the 4th quarter. United Capital Management of KS Inc. now owns 41,490 shares of the oil and gas company’s stock worth $5,788,000 after purchasing an additional 1,076 shares during the period. Institutional investors own 76.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MPC shares. TD Cowen restated a “buy” rating and issued a $170.00 target price on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Mizuho cut their target price on 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 lifted their price target 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. 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 report on Friday, March 7th. Finally, Tudor Pickering upgraded Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average target price of $182.13.

Insiders Place Their Bets

In related news, Director Evan Bayh purchased 1,000 shares of the firm’s stock in a transaction on 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 purchase, the director now directly owns 69,305 shares of the company’s stock, valued at approximately $9,266,078.50. This trade represents a 1.46 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ricky D. Hessling purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was bought at an average cost of $134.72 per share, for a total transaction of $269,440.00. Following the completion of 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.21% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of NYSE MPC opened at $146.00 on Wednesday. The stock has a market cap of $45.48 billion, a price-to-earnings ratio of 14.70, a P/E/G 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 1-year low of $130.54 and a 1-year high of $221.11. The stock’s 50-day moving average is $148.56 and its 200 day moving average is $152.54.

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 for the quarter, beating analysts’ consensus estimates 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 return on equity of 12.07% and a net margin of 2.45%. Marathon Petroleum’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period last year, the firm posted $3.98 EPS. On average, sell-side analysts anticipate that Marathon Petroleum Co. will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The business 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 2.49%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 36.66%.

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.