Wellington Management Group LLP Boosts Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Wellington Management Group LLP lifted its position in Marathon Petroleum Co. (NYSE:MPC) by 78.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 quarter. Wellington Management Group LLP owned about 3.20% of Marathon Petroleum worth $1,389,630,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of MPC. OLD Second National Bank of Aurora lifted its stake in Marathon Petroleum by 7.2% during the 4th quarter. OLD Second National Bank of Aurora now owns 994 shares of the oil and gas company’s stock valued at $139,000 after acquiring an additional 67 shares during the period. Nixon Peabody Trust Co. lifted its position in Marathon Petroleum by 3.4% during the fourth quarter. Nixon Peabody Trust Co. now owns 2,068 shares of the oil and gas company’s stock valued at $288,000 after purchasing an additional 68 shares during the period. Lake Street Advisors Group LLC boosted its holdings in Marathon Petroleum by 1.6% in the fourth quarter. Lake Street Advisors Group LLC now owns 4,271 shares of the oil and gas company’s stock valued at $596,000 after purchasing an additional 69 shares during the last quarter. American Trust raised its stake in shares of Marathon Petroleum by 5.3% during the 3rd quarter. American Trust now owns 1,397 shares of the oil and gas company’s stock valued at $228,000 after buying an additional 70 shares during the last quarter. Finally, DT Investment Partners LLC lifted its holdings in shares of Marathon Petroleum by 21.5% in the 4th quarter. DT Investment Partners LLC now owns 395 shares of the oil and gas company’s stock valued at $55,000 after buying an additional 70 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Activity

In related news, insider Ricky D. Hessling bought 2,000 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was bought at an average cost of $134.72 per share, for a total transaction of $269,440.00. Following the acquisition, the insider now directly owns 12,162 shares in the company, valued at $1,638,464.64. This represents a 19.68 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Evan Bayh bought 1,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was bought at an average cost of $133.70 per share, with a total value of $133,700.00. Following the completion of the purchase, the director now directly owns 69,305 shares in the company, valued at approximately $9,266,078.50. The trade was a 1.46 % 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 Down 2.2 %

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

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71. The business had revenue of $33.47 billion during the quarter, compared to analyst estimates 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 for the quarter was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.98 earnings per share. Equities research 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 announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th were issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend was Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio is currently 36.66%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Tudor Pickering upgraded Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Raymond James reaffirmed a “strong-buy” rating on shares of Marathon Petroleum in a report on Thursday. Barclays raised their price target on shares of Marathon Petroleum from $159.00 to $161.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. Piper Sandler decreased their price objective on shares of Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Finally, TD Cowen restated a “buy” rating and set a $170.00 target price on shares of Marathon Petroleum in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.