Winthrop Partners WNY LLC Makes New $1.62 Million Investment in Marathon Petroleum Corporation $MPC

Winthrop Partners WNY LLC purchased a new stake in shares of Marathon Petroleum Corporation (NYSE:MPC) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 9,975 shares of the oil and gas company’s stock, valued at approximately $1,622,000.

A number of other institutional investors have also made changes to their positions in MPC. Norges Bank acquired a new position in shares of Marathon Petroleum during the 4th quarter worth about $472,312,000. Capital Wealth Planning LLC grew its holdings in Marathon Petroleum by 49,392.0% in the 4th quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock valued at $245,157,000 after buying an additional 1,495,097 shares during the last quarter. Pacer Advisors Inc. increased its position in Marathon Petroleum by 3,816.8% in the 4th quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company’s stock worth $212,517,000 after buying an additional 1,273,386 shares during the period. Man Group plc lifted its holdings in shares of Marathon Petroleum by 2,175.0% during the fourth quarter. Man Group plc now owns 568,790 shares of the oil and gas company’s stock worth $92,502,000 after buying an additional 543,788 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Marathon Petroleum by 104.8% during the fourth quarter. Victory Capital Management Inc. now owns 1,055,897 shares of the oil and gas company’s stock worth $171,721,000 after buying an additional 540,283 shares during the last quarter. 76.77% of the stock is currently owned by institutional investors.

Insider Activity at Marathon Petroleum

In other news, VP Michael A. Henschen II sold 6,336 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the transaction, the vice president directly owned 16,900 shares of the company’s stock, valued at approximately $4,543,058. This trade represents a 27.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.17% of the company’s stock.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $243.11 on Friday. The firm has a market capitalization of $70.97 billion, a PE ratio of 15.87, a PEG ratio of 0.37 and a beta of 0.52. The company has a current ratio of 1.18, a quick ratio of 0.73 and a debt-to-equity ratio of 1.31. Marathon Petroleum Corporation has a 1-year low of $158.00 and a 1-year high of $272.46. The business’s 50 day moving average is $245.18 and its 200-day moving average is $214.32.

Marathon Petroleum (NYSE:MPC) last issued its earnings results on Tuesday, May 5th. The oil and gas company reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.91. The business had revenue of $34.20 billion during the quarter, compared to analyst estimates of $33.42 billion. Marathon Petroleum had a return on equity of 16.22% and a net margin of 3.36%.Marathon Petroleum’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.24) earnings per share. Sell-side analysts predict that Marathon Petroleum Corporation will post 31.35 earnings per share for the current year.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were paid a $1.00 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.6%. Marathon Petroleum’s dividend payout ratio is currently 26.11%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MPC shares. Piper Sandler raised their price objective on shares of Marathon Petroleum from $197.00 to $228.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Citigroup upped their target price on shares of Marathon Petroleum from $243.00 to $257.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Wells Fargo & Company reissued an “overweight” rating and issued a $344.00 price target on shares of Marathon Petroleum in a report on Monday. Jefferies Financial Group raised their price target on shares of Marathon Petroleum from $279.00 to $296.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Finally, Scotiabank upped their price objective on shares of Marathon Petroleum from $174.00 to $210.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 22nd. Ten equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, Marathon Petroleum has a consensus rating of “Moderate Buy” and an average target price of $272.94.

Marathon Petroleum Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.