Marathon Petroleum Corporation $MPC Stock Position Raised by Gabelli Funds LLC

Gabelli Funds LLC lifted its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 15.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 230,900 shares of the oil and gas company’s stock after acquiring an additional 31,200 shares during the quarter. Gabelli Funds LLC’s holdings in Marathon Petroleum were worth $37,551,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MPC. Navalign LLC acquired a new stake in shares of Marathon Petroleum in the fourth quarter worth $30,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Marathon Petroleum in the fourth quarter worth $31,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Marathon Petroleum in the third quarter worth $39,000. IAG Wealth Partners LLC acquired a new stake in shares of Marathon Petroleum in the third quarter worth $39,000. Finally, WFA of San Diego LLC acquired a new stake in shares of Marathon Petroleum in the second quarter worth $33,000. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Price Performance

NYSE MPC opened at $255.16 on Monday. Marathon Petroleum Corporation has a fifty-two week low of $154.65 and a fifty-two week high of $261.61. The stock’s 50-day moving average is $234.57 and its two-hundred day moving average is $203.50. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.18 and a quick ratio of 0.73. The firm has a market cap of $74.49 billion, a P/E ratio of 16.66, a price-to-earnings-growth ratio of 0.33 and a beta of 0.53.

Marathon Petroleum (NYSE:MPC) last posted its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.91. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.The company had revenue of $34.20 billion for the quarter, compared to analyst estimates of $33.42 billion. During the same period last year, the company earned ($0.24) earnings per share. The business’s revenue was up 8.5% compared to the same quarter last year. On average, analysts anticipate that Marathon Petroleum Corporation will post 29.67 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th will be paid a $1.00 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.6%. Marathon Petroleum’s payout ratio is presently 26.11%.

Analyst Upgrades and Downgrades

MPC has been the subject of several recent analyst reports. The Goldman Sachs Group raised their target price on Marathon Petroleum from $264.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Mizuho raised their target price on Marathon Petroleum from $205.00 to $224.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 17th. TD Cowen raised their target price on Marathon Petroleum to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Piper Sandler raised their target price on Marathon Petroleum from $197.00 to $228.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Finally, JPMorgan Chase & Co. raised their target price on Marathon Petroleum from $235.00 to $257.00 in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and an average price target of $259.44.

Insider Activity at Marathon Petroleum

In other news, insider Ricky D. Hessling sold 1,810 shares of Marathon Petroleum stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $224.78, for a total value of $406,851.80. Following the transaction, the insider directly owned 10,188 shares in the company, valued at approximately $2,290,058.64. The trade was a 15.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 4,473 shares of company stock valued at $1,015,428 in the last 90 days. Insiders own 0.17% of the company’s stock.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.