Scissortail Wealth Management LLC Makes New Investment in Marathon Petroleum Co. (NYSE:MPC)

Scissortail Wealth Management LLC acquired a new position in Marathon Petroleum Co. (NYSE:MPC) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 45,013 shares of the oil and gas company’s stock, valued at approximately $7,208,000. Marathon Petroleum accounts for about 2.3% of Scissortail Wealth Management LLC’s portfolio, making the stock its 11th largest position.

Other hedge funds have also added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC increased its stake in shares of Marathon Petroleum by 121,130.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,942,426 shares of the oil and gas company’s stock worth $458,859,000 after purchasing an additional 3,939,174 shares in the last quarter. Norges Bank purchased a new position in Marathon Petroleum during the fourth quarter valued at approximately $453,190,000. Arrowstreet Capital Limited Partnership grew its stake in Marathon Petroleum by 22,119.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,227,468 shares of the oil and gas company’s stock valued at $190,449,000 after acquiring an additional 2,217,443 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new position in Marathon Petroleum during the third quarter valued at approximately $109,099,000. Finally, Acadian Asset Management LLC grew its stake in Marathon Petroleum by 127.0% during the third quarter. Acadian Asset Management LLC now owns 1,232,706 shares of the oil and gas company’s stock valued at $186,536,000 after acquiring an additional 689,576 shares in the last quarter. Institutional investors own 76.77% of the company’s stock.

Insider Activity

In related news, Director Kim K.W. Rucker sold 1,000 shares of Marathon Petroleum stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $170.35, for a total transaction of $170,350.00. Following the completion of the transaction, the director now directly owns 23,446 shares of the company’s stock, valued at approximately $3,994,026.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MPC shares. Mizuho boosted their price objective on shares of Marathon Petroleum from $201.00 to $202.00 and gave the company a “neutral” rating in a research note on Friday. StockNews.com raised shares of Marathon Petroleum from a “hold” rating to a “buy” rating in a research note on Saturday, March 9th. Raymond James boosted their price target on shares of Marathon Petroleum from $175.00 to $185.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, January 31st. Wells Fargo & Company boosted their price target on shares of Marathon Petroleum from $214.00 to $227.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Finally, TD Cowen boosted their price target on shares of Marathon Petroleum from $168.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $193.77.

Marathon Petroleum Trading Down 1.5 %

NYSE:MPC traded down $3.15 during midday trading on Tuesday, reaching $203.88. 1,599,552 shares of the stock traded hands, compared to its average volume of 2,865,474. The company has a fifty day moving average of $187.05 and a 200 day moving average of $163.74. Marathon Petroleum Co. has a 12 month low of $104.32 and a 12 month high of $221.11. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.13 and a current ratio of 1.59. The stock has a market capitalization of $73.46 billion, a P/E ratio of 8.64, a PEG ratio of 1.98 and a beta of 1.52.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, January 30th. The oil and gas company reported $3.98 EPS 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 company had revenue of $36.26 billion during the quarter, compared to analyst estimates of $34.90 billion. During the same period in the prior year, the business posted $6.65 EPS. The firm’s revenue was down 8.9% compared to the same quarter last year. On average, research analysts predict that Marathon Petroleum Co. will post 17.53 EPS for the current year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Wednesday, February 21st were paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Tuesday, February 20th. Marathon Petroleum’s payout ratio is 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.