Atria Wealth Solutions Inc. Has $2.89 Million Position in Marathon Petroleum Co. (NYSE:MPC)

Atria Wealth Solutions Inc. raised its position in Marathon Petroleum Co. (NYSE:MPC) by 4.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 19,474 shares of the oil and gas company’s stock after buying an additional 826 shares during the period. Atria Wealth Solutions Inc.’s holdings in Marathon Petroleum were worth $2,889,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Denali Advisors LLC acquired a new position in Marathon Petroleum in the third quarter valued at approximately $197,000. Valeo Financial Advisors LLC lifted its stake in shares of Marathon Petroleum by 3.1% in the 3rd quarter. Valeo Financial Advisors LLC now owns 7,155 shares of the oil and gas company’s stock valued at $1,083,000 after purchasing an additional 213 shares during the period. Avestar Capital LLC bought a new position in shares of Marathon Petroleum in the 3rd quarter worth $208,000. Bill Few Associates Inc. acquired a new stake in shares of Marathon Petroleum during the third quarter worth $231,000. Finally, Atlantic Union Bankshares Corp increased its holdings in Marathon Petroleum by 9.2% in the third quarter. Atlantic Union Bankshares Corp now owns 16,361 shares of the oil and gas company’s stock valued at $2,476,000 after purchasing an additional 1,376 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Marathon Petroleum

In other Marathon Petroleum news, Director Kim K.W. Rucker sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $170.35, for a total transaction of $170,350.00. Following the transaction, the director now owns 23,446 shares of the company’s stock, valued at approximately $3,994,026.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MPC shares. Bank of America boosted their target price on Marathon Petroleum from $185.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Citigroup started coverage on shares of Marathon Petroleum in a report on Wednesday, January 24th. They issued a “neutral” rating on the stock. Piper Sandler upped their price objective on shares of Marathon Petroleum from $159.00 to $204.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Wells Fargo & Company lifted their target price on Marathon Petroleum from $214.00 to $227.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Finally, TD Cowen increased their price target on Marathon Petroleum from $168.00 to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Five investment analysts have rated the stock with 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.com, Marathon Petroleum presently has an average rating of “Moderate Buy” and a consensus target price of $193.77.

Marathon Petroleum Price Performance

Shares of MPC opened at $198.39 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.59 and a debt-to-equity ratio of 0.83. Marathon Petroleum Co. has a twelve month low of $104.32 and a twelve month high of $221.11. The stock has a market capitalization of $71.49 billion, a P/E ratio of 8.43, a P/E/G ratio of 1.61 and a beta of 1.52. The company has a 50 day moving average of $192.39 and a 200-day moving average of $167.07.

Marathon Petroleum (NYSE:MPC) last released its earnings results on Tuesday, January 30th. The oil and gas company reported $3.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $1.77. Marathon Petroleum had a net margin of 6.44% and a return on equity of 30.58%. The business had revenue of $36.26 billion during the quarter, compared to the consensus estimate of $34.90 billion. During the same quarter last year, the firm earned $6.65 earnings per share. The firm’s revenue for the quarter was down 8.9% compared to the same quarter last year. As a group, equities research analysts forecast that Marathon Petroleum Co. will post 20.49 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be issued a dividend of $0.825 per share. The ex-dividend date is Wednesday, May 15th. This represents a $3.30 annualized dividend and a yield of 1.66%. Marathon Petroleum’s payout ratio is presently 14.02%.

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.