EverSource Wealth Advisors LLC Raises Holdings in Marathon Petroleum Co. (NYSE:MPC)

EverSource Wealth Advisors LLC grew its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 7.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,798 shares of the oil and gas company’s stock after purchasing an additional 545 shares during the period. EverSource Wealth Advisors LLC’s holdings in Marathon Petroleum were worth $1,088,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MPC. OLD Second National Bank of Aurora increased its position in shares of Marathon Petroleum by 7.2% in the 4th quarter. OLD Second National Bank of Aurora now owns 994 shares of the oil and gas company’s stock valued at $139,000 after acquiring an additional 67 shares during the period. Nixon Peabody Trust Co. increased its position in shares of Marathon Petroleum by 3.4% in the 4th quarter. Nixon Peabody Trust Co. now owns 2,068 shares of the oil and gas company’s stock valued at $288,000 after acquiring an additional 68 shares during the period. Lake Street Advisors Group LLC increased its position in shares of Marathon Petroleum by 1.6% in the 4th quarter. Lake Street Advisors Group LLC now owns 4,271 shares of the oil and gas company’s stock valued at $596,000 after acquiring an additional 69 shares during the period. American Trust increased its position in shares of Marathon Petroleum by 5.3% in the 3rd quarter. American Trust now owns 1,397 shares of the oil and gas company’s stock valued at $228,000 after acquiring an additional 70 shares during the period. Finally, DT Investment Partners LLC increased its position in shares of Marathon Petroleum by 21.5% in the 4th quarter. DT Investment Partners LLC now owns 395 shares of the oil and gas company’s stock valued at $55,000 after acquiring an additional 70 shares during the period. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Stock Down 0.2 %

MPC stock opened at $136.82 on Friday. The company has a market cap of $42.77 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 3.11 and a beta of 1.39. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a 12 month low of $130.54 and a 12 month high of $221.11. The firm has a 50-day moving average of $148.39 and a two-hundred day moving average of $153.39.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings data 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 net margin of 2.45% and a return on equity of 12.07%. The company had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $31.94 billion. During the same quarter in the prior year, the firm earned $3.98 EPS. Marathon Petroleum’s quarterly revenue was down 9.1% on a year-over-year basis. As a group, analysts forecast that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm 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 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend was Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio (DPR) is presently 36.66%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Piper Sandler lowered their price target on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. TD Cowen reissued a “buy” rating and set a $170.00 target price on shares of Marathon Petroleum in a research note on Tuesday, December 10th. Tudor Pickering raised shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Wells Fargo & Company increased their target price on shares of Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Finally, Mizuho lowered their target price on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Marathon Petroleum presently has a consensus rating of “Moderate Buy” and an average price target of $182.00.

Insider Buying and Selling

In related news, insider Ricky D. Hessling bought 2,000 shares of the stock in a transaction on Tuesday, March 11th. The stock was bought at an average price of $134.72 per share, with a total value of $269,440.00. Following the completion of the purchase, the insider now directly owns 12,162 shares in the company, valued at $1,638,464.64. This represents a 19.68 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Evan Bayh bought 1,000 shares of the stock in a transaction 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 purchase, the director now owns 69,305 shares of the company’s stock, valued at $9,266,078.50. This trade represents a 1.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate 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.