Marathon Petroleum Co. (NYSE:MPC) Shares Purchased by Greatmark Investment Partners Inc.

Greatmark Investment Partners Inc. increased its holdings in shares of Marathon Petroleum Co. (NYSE:MPC) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 161,171 shares of the oil and gas company’s stock after purchasing an additional 5,476 shares during the period. Marathon Petroleum accounts for 3.1% of Greatmark Investment Partners Inc.’s investment portfolio, making the stock its 10th largest holding. Greatmark Investment Partners Inc. owned 0.05% of Marathon Petroleum worth $22,483,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Covestor Ltd lifted its stake in shares of Marathon Petroleum by 44.8% in the 3rd quarter. Covestor Ltd now owns 294 shares of the oil and gas company’s stock worth $48,000 after acquiring an additional 91 shares during the period. Pinnacle Financial Partners Inc lifted its stake in shares of Marathon Petroleum by 6.3% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 6,315 shares of the oil and gas company’s stock worth $1,029,000 after acquiring an additional 374 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in shares of Marathon Petroleum by 27.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 43,174 shares of the oil and gas company’s stock worth $7,033,000 after acquiring an additional 9,355 shares during the period. Huntington National Bank lifted its stake in shares of Marathon Petroleum by 1.9% in the 3rd quarter. Huntington National Bank now owns 30,256 shares of the oil and gas company’s stock worth $4,929,000 after acquiring an additional 558 shares during the period. Finally, Zions Bancorporation N.A. lifted its stake in shares of Marathon Petroleum by 22.9% in the 3rd quarter. Zions Bancorporation N.A. now owns 1,822 shares of the oil and gas company’s stock worth $297,000 after acquiring an additional 340 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Transactions at Marathon Petroleum

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 purchased at an average cost of $134.72 per share, for a total transaction of $269,440.00. Following the completion of the acquisition, the insider now owns 12,162 shares in the company, valued at $1,638,464.64. This trade represents a 19.68 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Evan Bayh bought 1,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average price of $133.70 per share, with a total value of $133,700.00. Following the completion of the acquisition, 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 position. The disclosure for this purchase can be found here. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

MPC has been the subject of several recent analyst reports. Wells Fargo & Company raised 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. Tudor Pickering upgraded shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Piper Sandler reduced their price objective 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. Barclays raised their price objective on shares of Marathon Petroleum from $159.00 to $161.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Mizuho reduced their price objective on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $182.13.

Marathon Petroleum Stock Performance

NYSE:MPC opened at $141.23 on Friday. 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 50-day moving average price of $148.36 and a two-hundred day moving average price of $153.17. Marathon Petroleum Co. has a twelve month low of $130.54 and a twelve month high of $221.11. The company has a market capitalization of $44.15 billion, a P/E ratio of 14.22, a price-to-earnings-growth ratio of 3.11 and a beta of 1.39.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71. The business had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $31.94 billion. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The company’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.98 earnings per share. As a group, research analysts expect that Marathon Petroleum Co. will post 8.47 earnings per share 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 issued a dividend of $0.91 per share. The ex-dividend date was Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.58%. 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.