Dakota Wealth Management Has $3.86 Million Stock Position in Marathon Petroleum Corporation $MPC

Dakota Wealth Management lifted its stake in shares of Marathon Petroleum Corporation (NYSE:MPC) by 23.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,711 shares of the oil and gas company’s stock after purchasing an additional 4,514 shares during the period. Dakota Wealth Management’s holdings in Marathon Petroleum were worth $3,856,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Boston Partners raised its position in Marathon Petroleum by 2.3% during the third quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company’s stock worth $1,214,522,000 after acquiring an additional 141,691 shares in the last quarter. Norges Bank bought a new position in shares of Marathon Petroleum in the 2nd quarter valued at about $527,197,000. Legal & General Group Plc grew its position in shares of Marathon Petroleum by 2.0% in the 3rd quarter. Legal & General Group Plc now owns 1,861,020 shares of the oil and gas company’s stock valued at $358,693,000 after acquiring an additional 35,847 shares during the period. Amundi increased its stake in shares of Marathon Petroleum by 11.8% during the 3rd quarter. Amundi now owns 1,626,862 shares of the oil and gas company’s stock worth $314,830,000 after purchasing an additional 172,172 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its holdings in shares of Marathon Petroleum by 217.8% in the 2nd quarter. Panagora Asset Management Inc. now owns 883,763 shares of the oil and gas company’s stock valued at $146,802,000 after purchasing an additional 605,705 shares during the period. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insiders Place Their Bets

In other news, insider Ricky D. Hessling sold 1,810 shares of Marathon Petroleum stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $224.78, for a total transaction of $406,851.80. Following the completion of the sale, the insider owned 10,188 shares of the company’s stock, valued at approximately $2,290,058.64. This trade represents a 15.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 4,473 shares of company stock worth $1,015,428. 0.17% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on MPC. Wells Fargo & Company raised their target price on shares of Marathon Petroleum from $213.00 to $217.00 and gave the company an “overweight” rating in a research note on Wednesday, February 4th. Jefferies Financial Group dropped their price objective on Marathon Petroleum from $216.00 to $205.00 and set a “buy” rating on the stock in a research note on Monday, January 26th. Weiss Ratings cut Marathon Petroleum from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, March 19th. Piper Sandler decreased their target price on Marathon Petroleum from $231.00 to $184.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Finally, JPMorgan Chase & Co. cut their price target on Marathon Petroleum from $211.00 to $179.00 and set a “neutral” rating for the company in a report on Tuesday, January 13th. Ten investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Marathon Petroleum currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.19.

Marathon Petroleum Stock Up 1.4%

Marathon Petroleum stock opened at $251.91 on Friday. The stock has a market cap of $74.19 billion, a P/E ratio of 18.87, a P/E/G ratio of 0.53 and a beta of 0.69. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 1.27. Marathon Petroleum Corporation has a twelve month low of $115.10 and a twelve month high of $252.83. The company’s 50-day moving average price is $205.67 and its two-hundred day moving average price is $192.28.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings data on Tuesday, February 3rd. The oil and gas company reported $4.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.73 by $0.34. Marathon Petroleum had a return on equity of 13.90% and a net margin of 2.99%.The company had revenue of $32.57 billion during the quarter, compared to analysts’ expectations of $30.89 billion. During the same quarter in the previous year, the company posted $0.77 earnings per share. The business’s revenue was down .1% on a year-over-year basis. As a group, analysts expect that Marathon Petroleum Corporation will post 8.47 EPS for the current year.

Marathon Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Wednesday, February 18th were paid a $1.00 dividend. The ex-dividend date was Wednesday, February 18th. This represents a $4.00 annualized dividend and a yield of 1.6%. Marathon Petroleum’s payout ratio is 29.96%.

Marathon Petroleum Profile

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.