Choate Investment Advisors Purchases 398 Shares of Marathon Petroleum Co. (NYSE:MPC)

Choate Investment Advisors lifted its position in Marathon Petroleum Co. (NYSE:MPC) by 3.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 11,652 shares of the oil and gas company’s stock after purchasing an additional 398 shares during the period. Choate Investment Advisors’ holdings in Marathon Petroleum were worth $1,625,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in MPC. Gladius Capital Management LP bought a new position in shares of Marathon Petroleum in the third quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Marathon Petroleum in the fourth quarter worth approximately $27,000. True Wealth Design LLC grew its holdings in shares of Marathon Petroleum by 672.7% in the third quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 148 shares during the last quarter. Asset Planning Inc bought a new position in shares of Marathon Petroleum in the fourth quarter worth approximately $28,000. Finally, Sierra Ocean LLC bought a new position in shares of Marathon Petroleum in the fourth quarter worth approximately $31,000. Institutional investors own 76.77% of the company’s stock.

Insider Transactions at Marathon Petroleum

In other Marathon Petroleum news, insider Ricky D. Hessling acquired 2,000 shares of Marathon Petroleum stock in a transaction that occurred 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 owns 12,162 shares of the company’s stock, valued at $1,638,464.64. This represents a 19.68 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Evan Bayh acquired 1,000 shares of Marathon Petroleum stock in a transaction that occurred on 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 acquisition, the director now directly owns 69,305 shares in the company, valued at $9,266,078.50. This represents a 1.46 % increase in their position. The disclosure for this purchase can be found here. 0.21% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on MPC shares. Piper Sandler cut their target price 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. TD Cowen reiterated a “buy” rating and issued a $170.00 price target on shares of Marathon Petroleum in a report on Tuesday, December 10th. Raymond James lifted their price target on shares of Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a report on Friday, January 17th. Tudor Pickering upgraded shares of Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. 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 investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $182.13.

Marathon Petroleum Price Performance

MPC opened at $141.23 on Monday. The stock has a 50-day moving average price of $148.36 and a 200-day moving average price of $152.93. 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 cap of $44.00 billion, a PE ratio of 14.22, 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 posted its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.71. The firm had revenue of $33.47 billion during the quarter, compared to analyst estimates of $31.94 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. Marathon Petroleum’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.98 EPS. Sell-side analysts predict 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 $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio is presently 36.66%.

Marathon Petroleum Company 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.