Sagespring Wealth Partners LLC Makes New $3.97 Million Investment in Marathon Petroleum Co. (NYSE:MPC)

Sagespring Wealth Partners LLC purchased a new stake in shares of Marathon Petroleum Co. (NYSE:MPC) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 28,451 shares of the oil and gas company’s stock, valued at approximately $3,969,000.

Several other large investors have also recently modified their holdings of MPC. Wellington Management Group LLP raised its holdings in Marathon Petroleum by 78.1% in the fourth quarter. Wellington Management Group LLP now owns 9,961,503 shares of the oil and gas company’s stock worth $1,389,630,000 after buying an additional 4,367,774 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Marathon Petroleum by 7.0% in the 4th quarter. Bank of New York Mellon Corp now owns 4,803,951 shares of the oil and gas company’s stock valued at $670,151,000 after acquiring an additional 315,786 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Marathon Petroleum by 22.3% during the 4th quarter. Pacer Advisors Inc. now owns 3,552,655 shares of the oil and gas company’s stock valued at $495,595,000 after purchasing an additional 647,045 shares during the last quarter. Boston Partners increased its holdings in shares of Marathon Petroleum by 37.4% in the 4th quarter. Boston Partners now owns 3,436,704 shares of the oil and gas company’s stock worth $480,501,000 after purchasing an additional 935,042 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Marathon Petroleum by 2.7% during the fourth quarter. Invesco Ltd. now owns 3,400,826 shares of the oil and gas company’s stock valued at $474,415,000 after purchasing an additional 88,901 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MPC shares. Barclays boosted their target price on Marathon Petroleum from $159.00 to $161.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Wells Fargo & Company lowered their price objective on shares of Marathon Petroleum from $185.00 to $175.00 and set an “overweight” rating on the stock in a research report on Friday. Piper Sandler decreased their target price 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. Mizuho dropped their price target on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Finally, Raymond James reduced their price objective on Marathon Petroleum from $193.00 to $183.00 and set a “strong-buy” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $177.21.

Marathon Petroleum Price Performance

NYSE MPC opened at $123.29 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. Marathon Petroleum Co. has a 12 month low of $115.10 and a 12 month high of $214.00. The stock has a market cap of $38.41 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 3.11 and a beta of 1.04. The company’s 50 day moving average is $143.65 and its two-hundred day moving average is $148.82.

Marathon Petroleum (NYSE:MPC) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.06 by $0.71. The firm had revenue of $33.47 billion for 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 revenue was down 9.1% on a year-over-year basis. During the same period last year, the firm earned $3.98 EPS. As a group, research analysts anticipate that Marathon Petroleum Co. will post 8.47 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend was Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio (DPR) is 36.66%.

Insider Buying and Selling

In related news, Director Evan Bayh bought 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average price of $133.70 per share, for a total transaction of $133,700.00. Following the completion of the transaction, the director now owns 69,305 shares in the company, valued at $9,266,078.50. The trade was a 1.46 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ricky D. Hessling purchased 2,000 shares of Marathon Petroleum stock in a transaction on Tuesday, March 11th. The stock was bought at an average price 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. The trade was a 19.68 % increase in their position. The disclosure for this purchase can be found here. 0.21% of the stock is currently owned by company insiders.

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.