Marathon Petroleum Co. (NYSE:MPC) Shares Bought by TCTC Holdings LLC

TCTC Holdings LLC grew its position in shares of Marathon Petroleum Co. (NYSE:MPC) by 3.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 91,256 shares of the oil and gas company’s stock after purchasing an additional 2,892 shares during the period. TCTC Holdings LLC’s holdings in Marathon Petroleum were worth $12,730,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Gladius Capital Management LP acquired a new stake in shares of Marathon Petroleum during the 3rd quarter worth about $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Marathon Petroleum during the 4th quarter worth about $27,000. True Wealth Design LLC lifted its holdings in shares of Marathon Petroleum by 672.7% during the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 148 shares during the period. Asset Planning Inc purchased a new position in shares of Marathon Petroleum during the 4th quarter worth about $28,000. Finally, Sierra Ocean LLC purchased a new position in shares of Marathon Petroleum during the 4th quarter worth about $31,000. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Stock Up 3.1 %

Shares of NYSE:MPC opened at $141.23 on Monday. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a 52-week low of $130.54 and a 52-week high of $221.11. The company has a 50 day moving average of $148.36 and a two-hundred day moving average of $152.93. The company has a market capitalization of $44.00 billion, a price-to-earnings 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 data 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 company had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $31.94 billion. During the same quarter last year, the company earned $3.98 earnings per share. Marathon Petroleum’s revenue for the quarter was down 9.1% on a year-over-year basis. As a group, analysts forecast that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently declared 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 2.58%. The ex-dividend date was Wednesday, February 19th. Marathon Petroleum’s payout ratio is currently 36.66%.

Insider Transactions at Marathon Petroleum

In related news, Director Evan Bayh purchased 1,000 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was 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 owns 69,305 shares of the company’s stock, valued at $9,266,078.50. This represents a 1.46 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ricky D. Hessling acquired 2,000 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was acquired at an average cost of $134.72 per share, with a total value of $269,440.00. Following the acquisition, the insider now owns 12,162 shares of the company’s stock, 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. Corporate insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

MPC has been the topic of several recent analyst reports. Raymond James increased their price objective on shares of Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a report on Friday, January 17th. Wells Fargo & Company increased their price objective on shares of Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Tudor Pickering upgraded shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. 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 report on Friday, March 7th. Finally, TD Cowen restated a “buy” rating and issued a $170.00 price target on shares of Marathon Petroleum in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $182.13.

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.