Vivid Wealth Management LLC Takes Position in Marathon Petroleum Co. (NYSE:MPC)

Vivid Wealth Management LLC purchased a new position in shares of Marathon Petroleum Co. (NYSE:MPC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,809 shares of the oil and gas company’s stock, valued at approximately $417,000.

Other large investors have also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC grew its stake in shares of Marathon Petroleum by 37.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 16,090 shares of the oil and gas company’s stock valued at $2,387,000 after buying an additional 4,376 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in Marathon Petroleum in the 4th quarter worth approximately $2,882,000. Allspring Global Investments Holdings LLC grew its position in Marathon Petroleum by 27.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 131,697 shares of the oil and gas company’s stock valued at $19,539,000 after acquiring an additional 28,139 shares in the last quarter. HBK Sorce Advisory LLC raised its stake in shares of Marathon Petroleum by 8.4% during the fourth quarter. HBK Sorce Advisory LLC now owns 3,276 shares of the oil and gas company’s stock valued at $486,000 after purchasing an additional 254 shares during the period. Finally, E&G Advisors LP lifted its position in shares of Marathon Petroleum by 4.9% during the fourth quarter. E&G Advisors LP now owns 2,139 shares of the oil and gas company’s stock worth $317,000 after purchasing an additional 100 shares in the last quarter. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Marathon Petroleum

In related news, Director Kim K.W. Rucker sold 1,000 shares of the 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 sale, the director now owns 23,446 shares of the company’s stock, valued at approximately $3,994,026.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MPC. Barclays raised their price target on shares of Marathon Petroleum from $168.00 to $221.00 and gave the company an “overweight” rating in a report on Friday. JPMorgan Chase & Co. lifted their target price on Marathon Petroleum from $172.00 to $186.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Citigroup initiated coverage on Marathon Petroleum in a report on Wednesday, January 24th. They issued a “neutral” rating for the company. Mizuho lifted their price objective on Marathon Petroleum from $159.00 to $201.00 and gave the stock a “neutral” rating in a report on Friday, March 22nd. Finally, Piper Sandler increased their target price on Marathon Petroleum from $159.00 to $204.00 and gave the company a “neutral” rating in a research note on Friday. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $192.58.

Marathon Petroleum Stock Performance

Shares of NYSE MPC traded down $4.86 during trading on Tuesday, reaching $212.12. The stock had a trading volume of 3,051,785 shares, compared to its average volume of 2,912,262. The firm’s 50 day moving average price is $182.84 and its two-hundred day moving average price is $161.73. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.13 and a current ratio of 1.59. Marathon Petroleum Co. has a one year low of $104.32 and a one year high of $221.11. The stock has a market cap of $76.43 billion, a PE ratio of 9.01, a P/E/G ratio of 2.21 and a beta of 1.52.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, January 30th. The oil and gas company reported $3.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $1.77. Marathon Petroleum had a net margin of 6.44% and a return on equity of 30.58%. The business had revenue of $36.26 billion during the quarter, compared to the consensus estimate of $34.90 billion. During the same quarter in the prior year, the firm earned $6.65 EPS. The company’s revenue for the quarter was down 8.9% compared to the same quarter last year. On average, research analysts forecast that Marathon Petroleum Co. will post 16.49 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Wednesday, February 21st were issued a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Tuesday, February 20th. Marathon Petroleum’s dividend payout ratio (DPR) is 14.02%.

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.