Invera Wealth Advisors LLC Lowers Stake in Marathon Petroleum Co. (NYSE:MPC)

Invera Wealth Advisors LLC cut its holdings in Marathon Petroleum Co. (NYSE:MPC) by 11.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,755 shares of the oil and gas company’s stock after selling 767 shares during the quarter. Invera Wealth Advisors LLC’s holdings in Marathon Petroleum were worth $1,122,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in MPC. Norges Bank purchased a new stake in Marathon Petroleum during the 4th quarter valued at approximately $500,685,000. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of Marathon Petroleum during the third quarter worth approximately $109,099,000. Acadian Asset Management LLC lifted its holdings in shares of Marathon Petroleum by 127.0% during the third quarter. Acadian Asset Management LLC now owns 1,232,706 shares of the oil and gas company’s stock worth $186,536,000 after purchasing an additional 689,576 shares during the period. Assenagon Asset Management S.A. grew its position in Marathon Petroleum by 256.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 884,573 shares of the oil and gas company’s stock valued at $131,235,000 after buying an additional 636,281 shares during the last quarter. Finally, Schroder Investment Management Group increased its stake in Marathon Petroleum by 309.9% in the 4th quarter. Schroder Investment Management Group now owns 643,590 shares of the oil and gas company’s stock valued at $95,483,000 after buying an additional 486,573 shares during the period. 76.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MPC has been the subject of several recent analyst reports. Barclays raised their target price on shares of Marathon Petroleum from $168.00 to $221.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Citigroup initiated coverage on Marathon Petroleum in a research report on Wednesday, January 24th. They set a “neutral” rating on the stock. Bank of America raised their price target on Marathon Petroleum from $185.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, March 15th. StockNews.com raised Marathon Petroleum from a “hold” rating to a “buy” rating in a report on Saturday, March 9th. Finally, Piper Sandler raised their target price on Marathon Petroleum from $159.00 to $204.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Marathon Petroleum currently has an average rating of “Moderate Buy” and an average target price of $193.77.

Marathon Petroleum Price Performance

NYSE MPC traded up $2.12 during trading hours on Monday, reaching $200.51. The company’s stock had a trading volume of 2,013,808 shares, compared to its average volume of 2,747,998. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.13 and a current ratio of 1.59. The company’s 50-day moving average is $193.00 and its two-hundred day moving average is $167.44. Marathon Petroleum Co. has a fifty-two week low of $104.32 and a fifty-two week high of $221.11. The stock has a market cap of $72.25 billion, a PE ratio of 8.52, a PEG ratio of 1.61 and a beta of 1.52.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings results on Tuesday, January 30th. The oil and gas company reported $3.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $1.77. Marathon Petroleum had a net margin of 6.44% and a return on equity of 30.58%. The company had revenue of $36.26 billion for the quarter, compared to the consensus estimate of $34.90 billion. During the same quarter in the prior year, the firm earned $6.65 earnings per share. The company’s revenue for the quarter was down 8.9% compared to the same quarter last year. Analysts forecast that Marathon Petroleum Co. will post 20.49 EPS for the current year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be issued a $0.825 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.65%. Marathon Petroleum’s dividend payout ratio (DPR) is 14.02%.

Insider Activity

In related news, Director Kim K.W. Rucker sold 1,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $170.35, for a total value of $170,350.00. Following the completion of the transaction, the director now owns 23,446 shares of the company’s stock, valued at approximately $3,994,026.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company 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.