NorthRock Partners LLC Acquires 4,332 Shares of Marathon Petroleum Co. (NYSE:MPC)

NorthRock Partners LLC raised its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 182.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,710 shares of the oil and gas company’s stock after acquiring an additional 4,332 shares during the quarter. NorthRock Partners LLC’s holdings in Marathon Petroleum were worth $936,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Kohmann Bosshard Financial Services LLC bought a new stake in Marathon Petroleum during the fourth quarter valued at about $27,000. Asset Planning Inc bought a new stake in shares of Marathon Petroleum in the 4th quarter valued at about $28,000. Sierra Ocean LLC acquired a new stake in Marathon Petroleum in the fourth quarter valued at approximately $31,000. Cape Investment Advisory Inc. boosted its stake in Marathon Petroleum by 762.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company’s stock valued at $42,000 after acquiring an additional 267 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new stake in Marathon Petroleum in the fourth quarter valued at approximately $44,000. Institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Trading Up 0.5%

Shares of Marathon Petroleum stock opened at $163.64 on Thursday. The firm has a 50-day simple moving average of $138.59 and a two-hundred day simple moving average of $145.34. The company has a market cap of $50.27 billion, a P/E ratio of 16.48, a price-to-earnings-growth ratio of 3.11 and a beta of 0.87. Marathon Petroleum Co. has a fifty-two week low of $115.10 and a fifty-two week high of $183.31. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.16. The company had revenue of $31.85 billion during the quarter, compared to analysts’ expectations of $28.91 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. Marathon Petroleum’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.58 EPS. As a group, equities analysts predict that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Wednesday, May 21st. Marathon Petroleum’s dividend payout ratio is presently 51.20%.

Analyst Ratings Changes

MPC has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price objective on Marathon Petroleum from $175.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday. Piper Sandler lowered their price target on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a report on Friday, March 7th. TD Cowen raised their price target on Marathon Petroleum from $142.00 to $152.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Tudor Pickering upgraded shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Finally, Raymond James lowered their target price on shares of Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating for the company in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $175.29.

Insider Buying and Selling

In other news, insider Ricky D. Hessling acquired 2,000 shares of Marathon Petroleum stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $134.72 per share, with a total value of $269,440.00. Following the purchase, the insider now owns 12,162 shares in the company, valued at $1,638,464.64. This trade represents a 19.68% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Evan Bayh bought 1,000 shares of the company’s stock in a transaction dated 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 acquisition, the director now directly owns 69,305 shares of the company’s stock, valued at approximately $9,266,078.50. This represents a 1.46% 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.

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.