Parallel Advisors LLC Sells 501 Shares of Marathon Petroleum Co. (NYSE:MPC)

Parallel Advisors LLC trimmed its position in Marathon Petroleum Co. (NYSE:MPC) by 6.0% in the fourth quarter, Holdings Channel reports. The fund owned 7,824 shares of the oil and gas company’s stock after selling 501 shares during the quarter. Parallel Advisors LLC’s holdings in Marathon Petroleum were worth $1,091,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MPC. Claro Advisors LLC lifted its stake in shares of Marathon Petroleum by 32.5% in the 3rd quarter. Claro Advisors LLC now owns 1,710 shares of the oil and gas company’s stock valued at $279,000 after acquiring an additional 419 shares during the last quarter. BIP Wealth LLC bought a new position in Marathon Petroleum during the 3rd quarter worth $231,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Marathon Petroleum during the 3rd quarter worth $4,876,000. West Family Investments Inc. raised its position in Marathon Petroleum by 10.7% during the 3rd quarter. West Family Investments Inc. now owns 2,405 shares of the oil and gas company’s stock worth $392,000 after purchasing an additional 233 shares during the last quarter. Finally, Prospera Private Wealth LLC bought a new position in Marathon Petroleum during the 3rd quarter worth $57,000. 76.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Piper Sandler lowered their target price on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Barclays raised their target price on Marathon Petroleum from $159.00 to $161.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Wells Fargo & Company lifted their price objective on Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Raymond James lifted their price objective on Marathon Petroleum from $190.00 to $192.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 17th. Finally, Tudor Pickering raised Marathon Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $182.13.

Marathon Petroleum Price Performance

MPC stock opened at $149.37 on Thursday. The company has a market capitalization of $46.53 billion, a P/E ratio of 15.04, a price-to-earnings-growth ratio of 3.11 and a beta of 1.39. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. Marathon Petroleum Co. has a 52-week low of $130.54 and a 52-week high of $221.11. The business has a 50-day simple moving average of $148.70 and a two-hundred day simple moving average of $152.52.

Marathon Petroleum (NYSE:MPC) last announced its earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.71. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The firm had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $31.94 billion. During the same quarter in the previous year, the business earned $3.98 EPS. The company’s revenue was down 9.1% compared to the same quarter last year. Research analysts expect that Marathon Petroleum Co. will post 8.47 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th were paid a $0.91 dividend. The ex-dividend date was Wednesday, February 19th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.44%. Marathon Petroleum’s payout ratio is presently 36.66%.

Insider Transactions at Marathon Petroleum

In other news, insider Ricky D. Hessling purchased 2,000 shares of Marathon Petroleum stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average cost of $134.72 per share, for a total transaction of $269,440.00. Following the transaction, the insider now directly owns 12,162 shares of the company’s stock, valued at approximately $1,638,464.64. This trade represents a 19.68 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Evan Bayh purchased 1,000 shares of Marathon Petroleum stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average price of $133.70 per share, with a total value of $133,700.00. Following the completion of the transaction, the director now directly owns 69,305 shares in the company, valued at approximately $9,266,078.50. This represents 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 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.