InterOcean Capital Group LLC Grows Position in Marathon Petroleum Co. (NYSE:MPC)

InterOcean Capital Group LLC increased its holdings in shares of Marathon Petroleum Co. (NYSE:MPCFree Report) by 3.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,591 shares of the oil and gas company’s stock after purchasing an additional 155 shares during the quarter. InterOcean Capital Group LLC’s holdings in Marathon Petroleum were worth $681,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of MPC. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Marathon Petroleum in the fourth quarter worth about $25,000. Bruce G. Allen Investments LLC acquired a new position in Marathon Petroleum during the 4th quarter worth $32,000. Bare Financial Services Inc bought a new stake in shares of Marathon Petroleum in the 4th quarter worth about $32,000. Manchester Capital Management LLC raised its stake in shares of Marathon Petroleum by 97.2% in the 4th quarter. Manchester Capital Management LLC now owns 215 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 106 shares in the last quarter. Finally, Pittenger & Anderson Inc. bought a new position in shares of Marathon Petroleum during the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 76.77% of the company’s stock.

Marathon Petroleum Price Performance

Shares of NYSE MPC traded up $0.85 during midday trading on Thursday, reaching $176.87. The company’s stock had a trading volume of 337,196 shares, compared to its average volume of 2,699,967. The company has a current ratio of 1.43, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. The company has a market cap of $62.32 billion, a price-to-earnings ratio of 8.79, a price-to-earnings-growth ratio of 1.48 and a beta of 1.55. Marathon Petroleum Co. has a one year low of $104.32 and a one year high of $221.11. The company has a 50 day moving average price of $194.73 and a 200 day moving average price of $170.71.

Marathon Petroleum (NYSE:MPCGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.25. Marathon Petroleum had a return on equity of 25.87% and a net margin of 5.32%. The firm had revenue of $32.71 billion for the quarter, compared to analysts’ expectations of $32.07 billion. During the same quarter last year, the business posted $6.09 EPS. Marathon Petroleum’s revenue was down 6.2% on a year-over-year basis. On average, equities research analysts expect that Marathon Petroleum Co. will post 19.88 EPS for the current year.

Marathon Petroleum announced that its board has initiated a share repurchase plan on Tuesday, April 30th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the oil and gas company to reacquire up to 7.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 1.87%. The ex-dividend date is Wednesday, May 15th. Marathon Petroleum’s dividend payout ratio (DPR) is currently 16.48%.

Insider Activity

In related news, Director Kim K.W. Rucker sold 1,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $170.35, for a total value of $170,350.00. Following the completion of the sale, the director now directly owns 23,446 shares of the company’s stock, valued at approximately $3,994,026.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on MPC shares. Citigroup initiated coverage on Marathon Petroleum in a research note on Wednesday, January 24th. They set a “neutral” rating on the stock. Piper Sandler reduced their price objective on Marathon Petroleum from $204.00 to $190.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 14th. The Goldman Sachs Group boosted their target price on shares of Marathon Petroleum from $175.00 to $211.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Scotiabank lifted their price target on shares of Marathon Petroleum from $175.00 to $207.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Finally, Barclays dropped their price objective on shares of Marathon Petroleum from $221.00 to $195.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $190.77.

Read Our Latest Research Report on MPC

Marathon Petroleum Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Marathon Petroleum (NYSE:MPC)

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