Independent Solutions Wealth Management LLC Buys 7,586 Shares of Marathon Petroleum Co. (NYSE:MPC)

Independent Solutions Wealth Management LLC lifted its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 601.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,848 shares of the oil and gas company’s stock after acquiring an additional 7,586 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Marathon Petroleum were worth $1,234,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. SWS Partners increased its holdings in shares of Marathon Petroleum by 19.0% in the fourth quarter. SWS Partners now owns 17,577 shares of the oil and gas company’s stock worth $2,452,000 after purchasing an additional 2,806 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Marathon Petroleum by 1,204.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 543,062 shares of the oil and gas company’s stock valued at $75,757,000 after acquiring an additional 501,441 shares during the period. Wilmington Savings Fund Society FSB raised its holdings in Marathon Petroleum by 747.3% in the third quarter. Wilmington Savings Fund Society FSB now owns 21,275 shares of the oil and gas company’s stock worth $3,466,000 after purchasing an additional 18,764 shares in the last quarter. Greatmark Investment Partners Inc. raised its stake in shares of Marathon Petroleum by 3.5% during the 4th quarter. Greatmark Investment Partners Inc. now owns 161,171 shares of the oil and gas company’s stock worth $22,483,000 after acquiring an additional 5,476 shares in the last quarter. Finally, TCTC Holdings LLC grew its holdings in Marathon Petroleum by 3.3% in the fourth quarter. TCTC Holdings LLC now owns 91,256 shares of the oil and gas company’s stock worth $12,730,000 after purchasing an additional 2,892 shares during the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.

Marathon Petroleum Price Performance

MPC stock opened at $151.93 on Friday. The business’s 50-day moving average is $148.90 and its two-hundred day moving average is $152.51. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.76. The firm has a market capitalization of $47.33 billion, a P/E ratio of 15.30, a P/E/G ratio of 3.11 and a beta of 1.39. Marathon Petroleum Co. has a 1 year low of $130.54 and a 1 year high of $221.11.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71. The firm had revenue of $33.47 billion during 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.98 earnings per share. Analysts anticipate that Marathon Petroleum Co. will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 19th were paid a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a yield of 2.40%. Marathon Petroleum’s dividend payout ratio is presently 36.66%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MPC. Raymond James raised their price target on Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a report on Friday, January 17th. TD Cowen reaffirmed a “buy” rating and issued a $170.00 price target on shares of Marathon Petroleum in a report on Tuesday, December 10th. Piper Sandler reduced their target price on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Barclays lifted their target price on Marathon Petroleum from $159.00 to $161.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Finally, Mizuho cut their price target on shares of Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. One equities research 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $182.13.

Insider Activity

In related news, insider Ricky D. Hessling bought 2,000 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 12,162 shares of the company’s stock, valued at $1,638,464.64. This represents a 19.68 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Evan Bayh purchased 1,000 shares of the 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 acquisition, the director now owns 69,305 shares in the company, valued at approximately $9,266,078.50. This trade represents a 1.46 % 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.

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.