Marathon Petroleum Co. (NYSE:MPC) Position Reduced by Nemes Rush Group LLC

Nemes Rush Group LLC trimmed its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 12.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,916 shares of the oil and gas company’s stock after selling 4,443 shares during the period. Nemes Rush Group LLC’s holdings in Marathon Petroleum were worth $4,452,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. True Wealth Design LLC lifted its position in Marathon Petroleum by 672.7% in the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after buying an additional 148 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Marathon Petroleum during the 4th quarter worth about $27,000. Asset Planning Inc acquired a new position in Marathon Petroleum in the fourth quarter worth approximately $28,000. Sierra Ocean LLC bought a new stake in Marathon Petroleum in the fourth quarter worth approximately $31,000. Finally, Cape Investment Advisory Inc. lifted its stake in shares of Marathon Petroleum by 762.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 267 shares during the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Insider Buying and Selling

In related news, Director Evan Bayh acquired 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average cost of $133.70 per share, with a total value of $133,700.00. Following the completion of the purchase, the director now directly owns 69,305 shares in the company, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ricky D. Hessling bought 2,000 shares of the business’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 purchase, the insider now directly owns 12,162 shares of the company’s stock, valued at approximately $1,638,464.64. This trade represents a 19.68 % increase in their position. The disclosure for this purchase can be found here. 0.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MPC shares. Raymond James reaffirmed a “strong-buy” rating on shares of Marathon Petroleum in a research report on Thursday. Mizuho decreased their target price on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Barclays upped their price objective on shares of Marathon Petroleum from $159.00 to $161.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Tudor Pickering upgraded shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. Finally, Piper Sandler cut their price objective 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. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.21.

Marathon Petroleum Price Performance

Shares of MPC stock opened at $145.85 on Tuesday. 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 firm’s 50 day moving average is $148.60 and its 200-day moving average is $151.35. Marathon Petroleum Co. has a 1 year low of $130.54 and a 1 year high of $221.11. The firm has a market capitalization of $45.44 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 3.11 and a beta of 1.39.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.06 by $0.71. The company had revenue of $33.47 billion during 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%. The business’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same period last year, the firm earned $3.98 EPS. Sell-side analysts forecast that Marathon Petroleum Co. will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th were paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend was Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 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.