Independent Advisor Alliance Purchases 2,075 Shares of Marathon Petroleum Co. (NYSE:MPC)

Independent Advisor Alliance grew its position in Marathon Petroleum Co. (NYSE:MPC) by 28.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,252 shares of the oil and gas company’s stock after acquiring an additional 2,075 shares during the period. Independent Advisor Alliance’s holdings in Marathon Petroleum were worth $1,291,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Wellington Management Group LLP raised its position in Marathon Petroleum by 342.1% in the 3rd quarter. Wellington Management Group LLP now owns 5,593,729 shares of the oil and gas company’s stock valued at $911,274,000 after purchasing an additional 4,328,470 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Marathon Petroleum by 22.3% in the fourth quarter. Pacer Advisors Inc. now owns 3,552,655 shares of the oil and gas company’s stock valued at $495,595,000 after buying an additional 647,045 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of Marathon Petroleum by 212.9% in the third quarter. National Bank of Canada FI now owns 846,756 shares of the oil and gas company’s stock valued at $137,945,000 after buying an additional 576,119 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Marathon Petroleum by 1,204.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company’s stock worth $75,757,000 after buying an additional 501,441 shares in the last quarter. Finally, Amundi grew its holdings in Marathon Petroleum by 18.0% during the 4th quarter. Amundi now owns 2,807,566 shares of the oil and gas company’s stock worth $398,388,000 after acquiring an additional 428,708 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MPC has been the subject of a number of research analyst reports. Piper Sandler dropped their target price on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. TD Cowen reaffirmed a “buy” rating and set a $170.00 price objective on shares of Marathon Petroleum in a report on Tuesday, December 10th. Wells Fargo & Company lifted their target price on Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Mizuho dropped 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. Finally, Raymond James raised their price target on Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $182.13.

Insider Transactions at Marathon Petroleum

In other news, Director Evan Bayh acquired 1,000 shares of Marathon Petroleum stock in a transaction dated Wednesday, March 5th. The stock was bought at an average cost of $133.70 per share, with a total value of $133,700.00. Following the completion of the transaction, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ricky D. Hessling bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $134.72 per share, for a total transaction of $269,440.00. Following the transaction, the insider now owns 12,162 shares in the company, valued at $1,638,464.64. The trade was a 19.68 % increase in their position. The disclosure for this purchase can be found here. 0.21% of the stock is owned by insiders.

Marathon Petroleum Stock Performance

MPC stock opened at $141.23 on Friday. Marathon Petroleum Co. has a 1-year low of $130.54 and a 1-year high of $221.11. 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 has a market cap of $44.15 billion, a PE ratio of 14.22, a P/E/G ratio of 3.11 and a beta of 1.39. The business’s 50-day moving average price is $148.36 and its two-hundred day moving average price is $153.17.

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

Marathon Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 36.66%.

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.