Horizon Kinetics Asset Management LLC Has $777,000 Stake in Marathon Petroleum Co. (NYSE:MPC)

Horizon Kinetics Asset Management LLC reduced its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,570 shares of the oil and gas company’s stock after selling 200 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Marathon Petroleum were worth $777,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of MPC. Gladius Capital Management LP acquired a new position in shares of Marathon Petroleum during the third quarter worth about $26,000. Claro Advisors LLC raised its holdings in Marathon Petroleum by 32.5% during the third quarter. Claro Advisors LLC now owns 1,710 shares of the oil and gas company’s stock worth $279,000 after acquiring an additional 419 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in Marathon Petroleum by 3.4% during the third quarter. Thrivent Financial for Lutherans now owns 468,935 shares of the oil and gas company’s stock worth $76,394,000 after acquiring an additional 15,434 shares in the last quarter. Aljian Capital Management LLC bought a new stake in Marathon Petroleum during the third quarter worth about $464,000. Finally, Islay Capital Management LLC raised its holdings in Marathon Petroleum by 3.8% during the third quarter. Islay Capital Management LLC now owns 7,284 shares of the oil and gas company’s stock worth $1,187,000 after acquiring an additional 266 shares in the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Ricky D. Hessling bought 2,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average cost of $134.72 per share, with a total value of $269,440.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Evan Bayh bought 1,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were 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 owns 69,305 shares in the company, valued at $9,266,078.50. The trade was a 1.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.21% of the stock is owned by corporate insiders.

Marathon Petroleum Trading Up 3.6 %

Shares of MPC stock opened at $146.27 on Tuesday. Marathon Petroleum Co. has a fifty-two week low of $130.54 and a fifty-two week high of $221.11. The company has a market cap of $45.57 billion, a PE ratio of 14.73, a P/E/G ratio of 3.11 and a beta of 1.39. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The stock’s fifty day moving average price is $148.48 and its two-hundred day moving average price is $152.76.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.71. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The company had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $31.94 billion. During the same period in the prior year, the company earned $3.98 EPS. Marathon Petroleum’s revenue was down 9.1% compared to the same quarter last year. Equities analysts predict that Marathon Petroleum Co. will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date was Wednesday, February 19th. Marathon Petroleum’s payout ratio is 36.66%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wells Fargo & Company upped their price objective on Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. TD Cowen restated a “buy” rating and issued a $170.00 price objective on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Piper Sandler dropped their price objective on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Tudor Pickering raised Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Finally, Raymond James upped their target price on Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a research 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and a consensus price target of $182.13.

Marathon Petroleum 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.