Marathon Petroleum Co. (NYSE:MPC) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP raised its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 78.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 9,961,503 shares of the oil and gas company’s stock after purchasing an additional 4,367,774 shares during the period. Wellington Management Group LLP’s holdings in Marathon Petroleum were worth $1,389,630,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. True Wealth Design LLC increased its holdings in 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 valued at $28,000 after purchasing an additional 148 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Marathon Petroleum in the fourth quarter valued at $27,000. Asset Planning Inc purchased a new stake in shares of Marathon Petroleum in the 4th quarter valued at $28,000. Sierra Ocean LLC acquired a new position in Marathon Petroleum during the 4th quarter worth about $31,000. Finally, Cape Investment Advisory Inc. boosted its holdings in Marathon Petroleum by 762.9% during the 4th quarter. Cape Investment Advisory Inc. now owns 302 shares of the oil and gas company’s stock valued at $42,000 after acquiring an additional 267 shares during the period. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Marathon Petroleum news, Director Evan Bayh bought 1,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average cost of $133.70 per share, with a total value of $133,700.00. Following the acquisition, the director now directly owns 69,305 shares of the company’s stock, valued at $9,266,078.50. The trade was a 1.46 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ricky D. Hessling purchased 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average price of $134.72 per share, with a total value of $269,440.00. Following the purchase, 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 disclosure for this purchase can be found here. Company insiders own 0.21% of the company’s stock.

Marathon Petroleum Stock Performance

Shares of MPC opened at $144.05 on Monday. The company has a market capitalization of $44.88 billion, a price-to-earnings ratio of 14.51, a price-to-earnings-growth ratio of 3.11 and a beta of 1.39. Marathon Petroleum Co. has a 52-week low of $130.54 and a 52-week high of $221.11. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The stock has a 50 day moving average price of $148.74 and a 200 day moving average price of $151.46.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.71. Marathon Petroleum had a net margin of 2.45% and a return on equity of 12.07%. The business had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $31.94 billion. During the same quarter in the prior year, the business posted $3.98 EPS. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. Research analysts predict that Marathon Petroleum Co. will post 8.47 EPS for the current fiscal 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 given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date was Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 36.66%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Piper Sandler cut their price target on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Wells Fargo & Company increased their target price on shares of Marathon Petroleum from $183.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Raymond James reaffirmed a “strong-buy” rating on shares of Marathon Petroleum in a research report on Thursday. Barclays lifted their target price on Marathon Petroleum from $159.00 to $161.00 and gave the company an “overweight” rating in a report on Friday, March 14th. Finally, Tudor Pickering upgraded Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $180.21.

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.