SVB Wealth LLC Grows Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

SVB Wealth LLC grew its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 8.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 11,260 shares of the oil and gas company’s stock after purchasing an additional 910 shares during the period. SVB Wealth LLC’s holdings in Marathon Petroleum were worth $1,671,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Bruce G. Allen Investments LLC purchased a new position in Marathon Petroleum in the 4th quarter worth approximately $32,000. True Wealth Design LLC purchased a new position in Marathon Petroleum in the 4th quarter worth approximately $38,000. Almanack Investment Partners LLC. purchased a new position in Marathon Petroleum in the 3rd quarter worth approximately $38,000. Tennessee Valley Asset Management Partners purchased a new position in Marathon Petroleum in the 4th quarter worth approximately $40,000. Finally, Mascoma Wealth Management LLC purchased a new position in Marathon Petroleum in the 3rd quarter worth approximately $43,000. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Bank of America boosted their price objective on shares of Marathon Petroleum from $185.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Citigroup began coverage on shares of Marathon Petroleum in a research report on Wednesday, January 24th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. lifted their target price on shares of Marathon Petroleum from $172.00 to $186.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Barclays lifted their target price on shares of Marathon Petroleum from $168.00 to $221.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Finally, Mizuho lifted their target price on shares of Marathon Petroleum from $201.00 to $202.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Marathon Petroleum has an average rating of “Moderate Buy” and a consensus price target of $193.77.

Insider Buying and Selling

In related news, Director Kim K.W. Rucker sold 1,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $170.35, for a total value of $170,350.00. Following the completion of the transaction, the director now owns 23,446 shares of the company’s stock, valued at approximately $3,994,026.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is currently owned by insiders.

Marathon Petroleum Trading Down 3.7 %

Shares of MPC stock opened at $195.01 on Friday. The company has a market cap of $70.27 billion, a price-to-earnings ratio of 8.29, a PEG ratio of 1.92 and a beta of 1.52. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.59 and a quick ratio of 1.13. The firm has a fifty day moving average price of $188.96 and a 200-day moving average price of $164.59. Marathon Petroleum Co. has a 1 year low of $104.32 and a 1 year high of $221.11.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, January 30th. The oil and gas company reported $3.98 earnings per share for the quarter, topping the consensus estimate of $2.21 by $1.77. The company had revenue of $36.26 billion during the quarter, compared to the consensus estimate of $34.90 billion. Marathon Petroleum had a net margin of 6.44% and a return on equity of 30.58%. Marathon Petroleum’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.65 EPS. As a group, equities analysts predict that Marathon Petroleum Co. will post 17.57 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Wednesday, February 21st were issued a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.69%. The ex-dividend date was Tuesday, February 20th. Marathon Petroleum’s dividend payout ratio is currently 14.02%.

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.