Marathon Petroleum Co. (NYSE:MPC) Shares Bought by Consolidated Planning Corp

Consolidated Planning Corp boosted its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,448 shares of the oil and gas company’s stock after buying an additional 876 shares during the period. Marathon Petroleum makes up 1.1% of Consolidated Planning Corp’s holdings, making the stock its 23rd largest position. Consolidated Planning Corp’s holdings in Marathon Petroleum were worth $5,852,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Marathon Petroleum during the 4th quarter valued at about $25,000. Bruce G. Allen Investments LLC acquired a new position in shares of Marathon Petroleum in the fourth quarter valued at about $32,000. Pittenger & Anderson Inc. acquired a new position in shares of Marathon Petroleum in the fourth quarter valued at about $36,000. Tennessee Valley Asset Management Partners acquired a new position in shares of Marathon Petroleum in the fourth quarter valued at about $40,000. Finally, Peoples Bank KS acquired a new position in shares of Marathon Petroleum in the third quarter valued at about $44,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Kim K.W. Rucker sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $170.35, for a total value of $170,350.00. Following the transaction, the director now owns 23,446 shares in the company, valued at $3,994,026.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.21% of the company’s stock.

Marathon Petroleum Price Performance

MPC stock traded down $1.12 during mid-day trading on Friday, reaching $198.39. 1,954,070 shares of the company’s stock were exchanged, compared to its average volume of 2,218,313. The company has a market cap of $71.49 billion, a price-to-earnings ratio of 8.43, a price-to-earnings-growth ratio of 1.62 and a beta of 1.52. The stock’s 50 day moving average is $192.39 and its 200 day moving average is $166.82. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.59 and a quick ratio of 1.13. Marathon Petroleum Co. has a 12-month low of $104.32 and a 12-month high of $221.11.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, January 30th. The oil and gas company reported $3.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $1.77. The company had revenue of $36.26 billion for the quarter, compared to the consensus estimate of $34.90 billion. Marathon Petroleum had a return on equity of 30.58% and a net margin of 6.44%. Marathon Petroleum’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.65 earnings per share. On average, research analysts expect that Marathon Petroleum Co. will post 20.49 EPS for the current year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be given a $0.825 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $3.30 annualized dividend and a dividend yield of 1.66%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 14.02%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on MPC shares. Piper Sandler increased their price objective on Marathon Petroleum from $159.00 to $204.00 and gave the company a “neutral” rating in a report on Friday, April 5th. JPMorgan Chase & Co. increased their price objective on Marathon Petroleum from $172.00 to $186.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Wells Fargo & Company increased their price objective on Marathon Petroleum from $214.00 to $227.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Bank of America increased their price objective on Marathon Petroleum from $185.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Finally, TD Cowen raised their target price on Marathon Petroleum from $168.00 to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus price target of $193.77.

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.