Canopy Partners LLC Acquires 2,999 Shares of Marathon Petroleum Co. (NYSE:MPC)

Canopy Partners LLC grew its stake in Marathon Petroleum Co. (NYSE:MPC) by 80.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,738 shares of the oil and gas company’s stock after purchasing an additional 2,999 shares during the period. Canopy Partners LLC’s holdings in Marathon Petroleum were worth $940,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of MPC. OLD Second National Bank of Aurora boosted its position in Marathon Petroleum by 7.2% in the fourth quarter. OLD Second National Bank of Aurora now owns 994 shares of the oil and gas company’s stock valued at $139,000 after buying an additional 67 shares in the last quarter. Nixon Peabody Trust Co. boosted its stake in Marathon Petroleum by 3.4% in the fourth quarter. Nixon Peabody Trust Co. now owns 2,068 shares of the oil and gas company’s stock worth $288,000 after purchasing an additional 68 shares in the last quarter. Lake Street Advisors Group LLC grew its holdings in shares of Marathon Petroleum by 1.6% during the fourth quarter. Lake Street Advisors Group LLC now owns 4,271 shares of the oil and gas company’s stock worth $596,000 after purchasing an additional 69 shares during the last quarter. American Trust raised its holdings in shares of Marathon Petroleum by 5.3% in the third quarter. American Trust now owns 1,397 shares of the oil and gas company’s stock valued at $228,000 after buying an additional 70 shares during the last quarter. Finally, DT Investment Partners LLC lifted its position in Marathon Petroleum by 21.5% during the 4th quarter. DT Investment Partners LLC now owns 395 shares of the oil and gas company’s stock worth $55,000 after buying an additional 70 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Insider Transactions at Marathon Petroleum

In other news, insider Ricky D. Hessling purchased 2,000 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was purchased at an average price of $134.72 per share, with a total value 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Evan Bayh acquired 1,000 shares of Marathon Petroleum stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average price of $133.70 per share, for a total transaction 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 disclosure for this purchase can be found here. 0.21% of the stock is owned by insiders.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $121.02 on Monday. Marathon Petroleum Co. has a 12 month low of $112.74 and a 12 month high of $219.74. 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 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. The company has a 50 day moving average of $147.41 and a 200 day moving average of $150.58.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.71. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The firm had revenue of $33.47 billion for the quarter, compared to analysts’ expectations of $31.94 billion. During the same quarter in the prior year, the firm posted $3.98 earnings per share. The business’s quarterly revenue was down 9.1% on a year-over-year basis. As a group, sell-side analysts forecast that Marathon Petroleum Co. will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

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

Analyst Ratings Changes

MPC has been the topic of a number of research reports. Barclays upped their target price on shares of Marathon Petroleum from $159.00 to $161.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Tudor Pickering upgraded Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Raymond James reiterated a “strong-buy” rating and issued a $193.00 price objective on shares of Marathon Petroleum in a research report on Thursday, March 27th. Wells Fargo & Company lifted their price target on shares of Marathon Petroleum from $183.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Finally, TD Cowen reissued a “buy” rating and issued a $170.00 price target on shares of Marathon Petroleum in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.