Corient Private Wealth LLC Has $23.55 Million Stock Position in Marathon Petroleum Co. (NYSE:MPC)

Corient Private Wealth LLC cut its holdings in Marathon Petroleum Co. (NYSE:MPC) by 14.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 168,814 shares of the oil and gas company’s stock after selling 28,783 shares during the period. Corient Private Wealth LLC owned about 0.05% of Marathon Petroleum worth $23,550,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. one8zero8 LLC bought a new position in shares of Marathon Petroleum in the fourth quarter valued at $617,000. Choate Investment Advisors boosted its position in Marathon Petroleum by 3.5% during the fourth quarter. Choate Investment Advisors now owns 11,652 shares of the oil and gas company’s stock worth $1,625,000 after purchasing an additional 398 shares during the period. Natixis Advisors LLC boosted its position in shares of Marathon Petroleum by 0.6% in the fourth quarter. Natixis Advisors LLC now owns 234,763 shares of the oil and gas company’s stock valued at $32,749,000 after acquiring an additional 1,514 shares during the period. Buckley Wealth Management LLC boosted its position in shares of Marathon Petroleum by 0.5% in the fourth quarter. Buckley Wealth Management LLC now owns 14,325 shares of the oil and gas company’s stock valued at $1,998,000 after acquiring an additional 75 shares during the period. Finally, United Capital Management of KS Inc. boosted its position in shares of Marathon Petroleum by 2.7% in the fourth quarter. United Capital Management of KS Inc. now owns 41,490 shares of the oil and gas company’s stock valued at $5,788,000 after acquiring an additional 1,076 shares during the period. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Marathon Petroleum Trading Down 0.1 %

NYSE MPC opened at $146.00 on Wednesday. The firm has a market capitalization of $45.48 billion, a P/E ratio of 14.70, a PEG ratio of 3.11 and a beta of 1.39. The business has a fifty day simple moving average of $148.56 and a 200 day simple moving average of $152.54. Marathon Petroleum Co. has a 12 month low of $130.54 and a 12 month high of $221.11. The company has a current ratio of 1.23, a quick ratio of 0.76 and a debt-to-equity ratio of 0.94.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, beating 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 business had revenue of $33.47 billion during the quarter, compared to analyst estimates of $31.94 billion. During the same period in the prior year, the firm posted $3.98 EPS. Marathon Petroleum’s quarterly revenue was down 9.1% compared to the same quarter last year. On average, analysts predict 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 given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 2.49%. The ex-dividend date was Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio is presently 36.66%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Piper Sandler dropped their price target on Marathon Petroleum from $160.00 to $156.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Wells Fargo & Company upped their price objective on Marathon Petroleum from $182.00 to $183.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Barclays upped their price objective on Marathon Petroleum from $159.00 to $161.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Mizuho lowered their price objective on Marathon Petroleum from $175.00 to $174.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Finally, TD Cowen reiterated a “buy” rating and issued a $170.00 target price on shares of Marathon Petroleum in a report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $182.13.

Insider Activity

In other Marathon Petroleum news, Director Evan Bayh bought 1,000 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was purchased at an average cost of $133.70 per share, with a total value of $133,700.00. Following the transaction, the director now directly owns 69,305 shares in the company, valued at $9,266,078.50. This trade represents a 1.46 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ricky D. Hessling bought 2,000 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average cost of $134.72 per share, with a total value of $269,440.00. Following the completion of the transaction, the insider now owns 12,162 shares in the company, valued at approximately $1,638,464.64. The trade was a 19.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.21% of the company’s stock.

About Marathon Petroleum

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.