Parallel Advisors LLC Sells 501 Shares of Marathon Petroleum Co. (NYSE:MPC)

Parallel Advisors LLC lowered its position in Marathon Petroleum Co. (NYSE:MPC) by 6.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,824 shares of the oil and gas company’s stock after selling 501 shares during the quarter. Parallel Advisors LLC’s holdings in Marathon Petroleum were worth $1,091,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Marathon Petroleum in the 4th quarter worth approximately $27,000. True Wealth Design LLC raised its holdings in shares of Marathon Petroleum by 672.7% in the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after buying an additional 148 shares in the last quarter. Asset Planning Inc acquired a new position in shares of Marathon Petroleum in the 4th quarter worth approximately $28,000. Sierra Ocean LLC acquired a new position in shares of Marathon Petroleum in the 4th quarter worth approximately $31,000. Finally, Darwin Wealth Management LLC acquired a new position in shares of Marathon Petroleum in the 3rd quarter worth approximately $33,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MPC. Piper Sandler dropped their price target on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a report on Friday, March 7th. TD Cowen reaffirmed a “buy” rating and set a $170.00 price target on shares of Marathon Petroleum in a report on Tuesday, December 10th. Wells Fargo & Company raised their price target on Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Barclays raised their price target on Marathon Petroleum from $159.00 to $161.00 and gave the company an “overweight” rating in a report on Friday, March 14th. Finally, Mizuho dropped their price target on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a report on Monday, December 16th. One investment 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.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $182.13.

Insider Buying and Selling

In related news, Director Evan Bayh purchased 1,000 shares of Marathon Petroleum stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average price of $133.70 per share, with a total value of $133,700.00. Following the completion of the transaction, the director now directly owns 69,305 shares of the company’s stock, valued at $9,266,078.50. This represents a 1.46 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ricky D. Hessling purchased 2,000 shares of Marathon Petroleum stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average cost of $134.72 per share, for a total transaction of $269,440.00. Following the transaction, the insider now directly owns 12,162 shares of the company’s stock, valued at $1,638,464.64. This represents a 19.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.21% of the stock is currently owned by company insiders.

Marathon Petroleum Price Performance

Shares of NYSE MPC opened at $149.37 on Thursday. The firm has a market cap of $46.53 billion, a P/E ratio of 15.04, a price-to-earnings-growth 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 1-year low of $130.54 and a 1-year high of $221.11. The business’s 50 day moving average is $148.70 and its 200-day moving average is $152.52.

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

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th were paid 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 2.44%. Marathon Petroleum’s dividend payout ratio (DPR) is currently 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.